Setting goals for your business: The RIGHT WAY to go about it!

The core of a business lies in its goals. These goals serve as a yardstick to measure the success of any business. In the absence of goals, there is no way to know if your hard work has paid off. So, goal setting is very important to the business structure and should be an integral part of it. The question now is, how do you set these business goals?

  1. Have realistic targets: In the sells like hot cakes program, we have set the goal to reach $45,000 profit per month, and there is a reason for this. Nobody is saying you shouldn’t dream BIG, but when it comes to goals, you should have realistic targets and not overt fantasies that will have you beating yourself up at the end of the day. Remember; great things have small beginnings.
  1. Be specific: Being ambiguous won’t get things done; it’ll only cause distraction and confusion. Know exactly what you want, down to the finest detail and then channel your resources towards the pursuit of that target.
  1. Remain Committed: In order to see your plan through you should stay motivated and ensure you finish what you started. Avoid procrastination and stay focused until you’ve achieved what you set out to do.
  1. Take Action! It’s one thing to say something and entirely a different thing to actually do something. The talkers of this world don’t go very far. Don’t just be a talker, BE a DOER! After setting your goals, rise up and take the necessary actions to achieve them. Actions speak louder than words…

Follow these simple principles, and you would’ve laid a concrete foundation to build your business upon. Ensure to check our video course on “Your Ultimate Blueprint to get from ZERO to $45,000 profit per month” If you can follow this guide meticulously, you are guaranteed success in your e-commerce business.

Go get em’ Tiger!

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Last Wall Comments

 
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 Mike says at 22:52 et
Great idea George.. The best thing is shopify is not just for dropshipping! You can sell your own products and even fullfill by amazon for your shopify sales. Check ByteStand and several other apps for AMAZON integration into shopify
 
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 freedom says at 21:01 et
Why to go Shopify and not WooCommerce??
 
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 Ted says at 21:01 et
Shopify Is Easier to Use, it's a turn-key solution. (hosting, ssl etc all included) + great app store to boost your sales.
WooCommerce is free opensource plugin and working with Wordpress which means you have to install and confirgure everything yourself, buy hosting, ssl separately too so there is no real saving just more headaches.
Go for shopify and jump straight into selling rather than micromanagement tech parts with WooCommerce..
 
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 Iriness says at 21:05 et
WooCommerce looks like saving but in reality you have tons of hidden costs like domain, ssl and tons of extra hassles... Why not go easy with Shopify!
 
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 Claudia says at 21:05 et
I agree with Iriness!
 
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 Ethan says at 21:01 et
i look to scale up my business and get more help.. where to find assistants?
 
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 Evan says at 21:01 et
Check great filipinos workershere onlinejobs.ph and assistant on Upwork, freelancer.com and fiverr!
 
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 daniel says at 21:27 et
What do I need to have to sell in EUROPE?? in pan european seller central
 
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 Claudia says at 21:27 et
Business registration in an EU country or company in EU, VAT registration in every country where your inventory is held, (usually its UK, Germany, France, Italy, Spain, Poland, and the Czech Republic) Also need CE certification. then you do in future also Annual income tax filings in your EU registered country, Monthly VAT filings in your registered countries, Annual, quarterly, or monthly filings of your activities with Interstat (the frequency depends on your sales volumes), A continuous customs bond for Schengen countries.
Continuous customs bonds for non-Schengen countries (basically the UK). There are companys that handle all that paperwork like FBA-Hero, check resources sections..
 
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 sultan says at 21:47 et
2 questions. Love the community very helpful read..

1.Whats BSR??
2. Whats MOQ?
 
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 Uncle Sam says at 21:48 et
BSR... BSR (best sellers rank) is how well you are ranked on amazon.. the smaller the number the better!
Ideally you must be under 10,000 BSR to get 5-10 sales per day!
 
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 Lucy says at 21:48 et
MOQ minimum order quantity.. Usually 500-1000 units when doing whitelabelling..
 
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 Boris says at 17:39 et
I started private label selling 6 weeks ago and my conversion rate is 8.5%. Is that good or bad? I sell around 7 units per day
 
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 lou says at 17:39 et
It's good. Your goal is to sell 10 units per day, $10 per unit profit. You are on the right track, keep pushing!
 
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 Natalie says at 22:32 et
Today's marks the 5th product launch on Amazon. First product failed completely. Second was ok (4 units per day), 3rd was a flop. 4th was 20 units per day (I think i strike the gold here). Looking for a new one! So far I am making around $700 per day and looking to grow more! this stuff WORKS!
 
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 Tycoon says at 22:33 et
Congrats Natalie. Inspiring stuff! Keep up great work!!!
 
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 jack says at 22:33 et
Thank you for sharing with us!!!
 
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 Chris says at 22:34 et
So true.. i don't always win but when i do I win superbowl!
 
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Dean says at 12:32 et
I'm new to Shopify and was following another course but it was very general. This is exactly what I needed. Thanks for the great course!
 
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 Mike says at 01:40 et
thank you for kind words Dean! we really appreciate it
 
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Andres says at 10:01 et
Hello Im a fresh rookie Im a little confused on the Goal of 45,000.00 .....It reads...."Our goal is to make at least $10 per product per sale and at least make 10 sales per
day from each product, which means from five products, we are going to make
$45,000 at least per month plus your Shopify store profits and, of course, minus the
cost of sales, production, shipping and advertising. Our estimated profit is $45,000
per month. Well you can’t live with that but you would agree it’s a good start "

Is that goal only when you start with Amazon, or still good if you take the Shopify to start with...?
 
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 Mike says at 10:02 et
Welcome Andres. $10 per product per sale and 10 sales is a universal rule of thumb for any ecommerce store. 10-10 rule some people call it. It's same rule no matter if you start shopify or amazon or even better BOTH channels combined.
 
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 Diego says at 10:04 et
I agree, starting both is a way to go, you never know the future and which source will be more profitable for your product or niche! Good luck!
 
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 meni says at 05:04 et
Great tips, thx guys!
 
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Ricardo says at 02:00 et
Hi, I have one question, maybe someone could help me: What if I work with 3 providers from Aliexpress, and I make an upsell on my store, but each product is is from a different provider. So, my customer will have this separately, will I have to tell him/her that would come in different time? (something rare that figure I think (?))

This providers offer different things for the same niche, so their product are great for an upsell for the other provider.*
 
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 Claudia says at 02:05 et
I think it does not matter if all comes same or not. People are not expecting all products to be in same pack these days, you know even with amazon many times the products are shipped separately even if you order same day.
 
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Ricardo says at 12:15 et
great!!
thanks Claudia
 
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 Emma says at 02:06 et
I agree it's not a problem. If customer asks you reply that you ship from different warehouses.
 
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 chris says at 09:57 et
I posted my Critics today, if you care - please send me suggestions here http://sellslikehotcakes.co/critics.php
 
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wade says at 10:07 et
Hello Everyone - Brand spanking new here and excited to dig in - I look forward to getting to know you all - And I hope in time to give back as well... Now what to sell? lol that's going to take some thought....
 
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 Victor says at 10:07 et
Good one wade! nice to have you here! welcome!!!
 
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Andres says at 03:05 et
Same here....exploring niches
 
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wade says at 18:39 et
Still working my way though the videos – And it is funny to me how much my opinions on what to sell or the most interesting niches and how easy or difficult this posses is going to be has changed and continues to change as I go along. Really like what I am seeing here – Good job SLHC team !! -
 
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 Mike says at 18:40 et
Thank you Wade, we really appreciate. Well the list of what you can sell is endless... Our job here is to give you tips and tools so you can try to narrow it down to potentially good ones! I cant tell people what to sell but if you follow the criterias and niche finder and other tools I am sure you will find several good ideas that will fit your needs!
 
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Jimmy says at 03:39 et
Hi, is that a must to set up a credit card payment gateway. Can I just use paypal payment gateway only?
 
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 Mike says at 03:39 et
Yes you can use just Paypal but it's always better to give more payment options.
 
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Jimmy says at 06:37 et
I try to apply for 2checkout for my country, but without 90 days worth of sales history, they cannot move forward in the review process.
I may find Upwork to help for the sales history.
 
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Bill says at 07:39 et
Hi everyone....I'm new here and looking forward to getting this thing off the ground! I'm hoping this course will help me decide which niche/products to use. I went to sign up for the Shopify trial and it asked for my store name....I have no idea ;-) I guess I have a lot of work to do!
 
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 Mike says at 07:39 et
Welcome Bill! Good to have you here. Take your time to watch the videos, especially about Branding to get you some ideas.
 
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 Mike says at 08:27 et
New video added (NEW!) Visiting Coffee Factory Insights & Tips
Today we are in Guangzhou, an industrial city in China and visiting a
Coffee Maker Factory that is producing coffee makers for the top
European brands. We will see the production, show you real life
insights on how Chinese factories look and work, what questions you
should be asking when visiting your supplier and what quality control
is in place. Great insights from the real Chinese factory!

As a bonus we are sharing great tips for Amazon FBA sellers.

Visiting China is not required but will put you ahead of competition
if you really go extra mile and visit your suppliers and establish
personal level of trust with them. It's much harder for supplier to
scam you and provide poor quality if he knows that you can just hop on
the plane and visit their factory in person next day to check the
quality! Trust me, it works!
 
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 diego says at 08:28 et
where to see it Mike??
 
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 tom says at 08:30 et
In China with Love series (BONUS) http://sellslikehotcakes.co/videos.php
 
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 Samuel says at 07:53 et
great video!
 
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dilini says at 19:04 et
can I open USA shopify account? If yes what are the things I need? Thanks
 
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 Lane says at 19:07 et
You need to do your research. To open USA shopify account you will need VPN, some USA forwarding address. But to use USA payment systems you will need more work - US company and bank account. You might also partner with someone from USA.