WHY

With income goals, you can track your performance over time and adjust strategies as needed to stay on target.
Clear financial targets simplify decisions about pricing, marketing, and investments, ensuring they align with your goals.
Achieving milestones tied to your income goals provides a sense of accomplishment and encourages you to strive for continued success.

Income goals provide structure and direction to your business efforts. Without them, you risk working aimlessly, missing opportunities, and failing to achieve sustainability. Setting clear, measurable income targets keeps you motivated, focused, and prepared for both challenges and opportunities.

EACH YEAR, OVER 50,000 NEW BUSINESSES ARE REGISTERED IN NZ, EACH WITH ITS OWN STRUCTURE AND RULES.

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EACH YEAR, OVER 50,000 NEW BUSINESSES ARE REGISTERED IN NZ, EACH WITH ITS OWN STRUCTURE AND RULES. ✦

WHAT

The financial objectives you set for the business in order to guarantee growth and profitability are known as income goals. These objectives serve as a guide, assisting you in determining the amount of money that you need to succeed and the best way to distribute resources. You can develop an action plan that keeps your efforts in line with your vision by clearly identifying your earning goals
There are ties between the Budget, Cashflow, and Charts tabs. All three tabs are updated when you make changes to the income and expense sheets, guaranteeing that everything remains current and accurate. You can take charge of your financial future and make the most of the spreadsheet's features by understanding the function of each tab.

The Budget, Cashflow, and Charts tabs work together seamlessly, updating automatically when you adjust income and expenses. By understanding how each tab functions, you can confidently take control of your finances and maximize the spreadsheet's potential.

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KEEP YOUR GOALS REALISTIC, IF THERE ISN'T ROOM IN YOUR BUDGET CONSIDER OTHER OPTIONS FOR REVENUE

✦ KEEP YOUR GOALS REALISTIC, IF THERE ISN'T ROOM IN YOUR BUDGET CONSIDER OTHER OPTIONS FOR REVENUE

One size does not fit all when it comes to your business

Dont feel limited by your specific trades or skills; instead, consider your options. You have the opportunity to explore and expand your potential beyond what you might think.

Set your Income Goals

Your income goal tab is the foundation of your financial plan, helping you visualise, plan, and track your revenue targets effectively. Here’s a detailed guide to make the most of it:

Set Your Income Target
Start by defining your desired income goal for the month, quarter, or year. This is more than just a number—it's a reflection of your business ambitions. Input this target into the designated section on the worksheet. Think about:

What do you need to cover expenses and generate profit?
Are you aligning this goal with your broader business strategy, such as growth or market expansion?
Is the target realistic and achievable, based on your current capacity?

Your income target acts as a motivational benchmark, guiding your financial decisions and helping you measure success over time.

Growth is a positive sign, lean into it with confidence

Let your business evolve naturally over time, adapting to the changing landscape and embracing new opportunities as they arise. This can lead to sustainable success and a thriving enterprise in the long run.

Break it Down by Source

Income rarely comes from a single stream, especially in diverse businesses. Identify all your revenue sources and break them down into categories, such as:

Sales of products or services
Recurring income like subscriptions or retainer agreements
One-off projects, commissions, or special income

For each source, input the expected revenue. The worksheet will calculate totals, giving you a clear picture of how each stream contributes to your overall goal. This breakdown allows you to see which areas are strong performers and which may need more attention or development.

Stay flexible and adapt to change and new opportunities.

Your business will undoubtedly grow and thrive when you leverage the right tools and strategies to enhance your operations and financial management. With the right approach, you can unlock new opportunities for expansion and success.

Once you've set your targets and broken down your income streams, the real work begins: tracking and optimising. Regularly update your actual earnings in the income or sales tabs and compare them to your goals. Use this information to:

Identify shortfalls and brainstorm strategies to close gaps (e.g., increasing marketing or launching new services).
Recognise trends, such as seasonality or high-performing products, to inform future planning.
Make real-time adjustments to ensure you remain on track to meet or exceed your goals.

By using the income goal tab consistently, you transform abstract goals into actionable insights, empowering you to take charge of your financial health and business growth. This proactive approach helps you stay focused, organised, and motivated as you work toward building a sustainable and profitable business.

Monitor, Evaluate & Adjust

Conclusion

One size does not fit all when it comes to business, you are not limited by your specific trades or skills; instead, you have the opportunity to explore and expand your potential beyond what you might initially think. The best way to define your business is to make a Business Plan, this allows you to see the full picture of your business or organisation over the next 3 years.

Your Business Plan explains how you will operate, earn revenue, and handle expenses and most importantly clarifies roles and processes in your organisation.

Regularly updating your plan to include new insights and adjustments is crucial for staying relevant and achieving long-term success.