There’s a magic formula I talked about called your “magic number” and I’ve had a lot of people ask me about it.
It might sound counter-intuitive, but the fastest way to increase your SALES is to work out THIS number.
This is your magic number.
Once you hit this, life is on easy mode.
We’re essentially looking for an amount of money that gives you three things.
- Financial security
- Financial freedom
- Time freedom
Basically, how much to live a good life.
Here’s how you do it.
1. Make a list of all your expenses. This is SO much easier now with AI. Just upload a few months worth of statements to ChatGPT and ask it this:
“I want to get a better handle on my financial situation. Based on these statements, how much would you say my average expenses are per month for me to survive and how much is this a month and per day?”
Chat will give you your baseline number: that’s your survival number. What you need right now.
2. Write out a list of everything you want to be able to do a month. Maybe pay a higher amount in rent, go to dinner, save some money, start a new hobby. Doesn’t matter.
List out what you want to do and again, ask chatgpt for estimates on how much that stuff costs. Ask it for daily number.
This is your “lifestyle” number. Add it to your survival number and you’ve got a better idea of where you need to be.
3. Now, add 15% to your lifestyle number. This is what can be saved, invested and played with. That’s the fun bit.
This is your “security” number. Add this to your survival and lifestyle number.
I guarantee that it’ll be lower than you think.
Plus, you’ve now got the REAL target you need to work towards.
Divide this “magic number” by your average price.
That’ll give you how many clients you need.
Maybe this is the part you need to adjust.
