How much money do you need to finance the life of your dreams?
Do you know the lifetime value of a new client or sale?
What about a clear breakdown of your monthly expenses?
These are just some of the questions I ask business owners when they book a Q&A call with me.
In case you don't know, I run Goodman Creatives — a marketing, web design, and personal branding agency with one employee (me!)
Usually, the response is, "I have no idea!"
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HOW TO CREATE
A MARKETING BUDGET
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Until you have clarity on your lifestyle numbers, it's impossible to set a marketing budget.
To start, open up a spreadsheet and your credit card statements and figure out how much it costs just to be you.
Here are 15 key areas to focus on ...
Housing - rent, mortgage, upkeep, housekeepers ...
Utilities - internet, phone, gas, electric ...
Insurances of all types - home, car, medical, business ...
Transportation or car expenses - loan payments, registration, gas, bus fare ...
Food - because organic ain't cheap
Emergency funds - for when life gets a little kooky
Entertainment and travel - keeping sane at home and getting out there
Gifts - if you like giving them, you gotta pay for them!
Clothes and accessories - how much does it cost to keep you styling?
Personal development - hiring coaches, gym memberships, and taking care of YOU
App subscriptions and recurring memberships - Netflix, Spotify, everything on your phone ...
Taxes - if you are a freelancer or online business owner, make sure to save for Uncle Sam
Retirement - if you're not getting a 401k, you can always do IRAs or other investments to work up that nest egg
General Savings - kids college funds, big home improvements, that shiny thing you really want ...
Business expenses - what people, services, marketing, etc do you pay for each month
WANT TO LEARN MORE?
LINK IN BIO ...
