Running a blogging business is personal. The money that you use to purchase your domain and purchase your hosting and get your blogs set up for the very first time, that money is probably sitting right next to your diaper budget and right next to your grocery budget.
I would know, because that’s where my money was sitting. Running a blogging business just honestly hits very close to home because obviously it happens in your home.
So that means that you’re especially invested in it. This isn’t just some random job. You really want to see this blogging business grow and work really well for you and your family.
Now, I have been creating and selling my own products on my blog for a couple of years now. And there’s something really important that I have noticed and used throughout the years.
This method, this formula that I use to create goals helps me become even more successful
. And really, anytime I use this formula and anytime I use this method, I see myself make more products sales and have a better revenue quarter or revenue period for my blogging business, which obviously we all want. So if you’re interested in seeing this formula, just keep watching this video.
Hey, everyone. I’m Alison Lindstrom and you are watching my latest video on blogging tips and mom hacks.
And don’t forget to hit that subscribe button and ring the little bell right next to it so that you don’t miss any of the goodness that I share on this channel. Now, without further ado. Enjoy today’s video.
Do not forget that the genius bloggers tool kit is only available for a couple more days before we completely close it down.
It is a bundle of blogging products worth almost six thousand dollars, and we are only selling it for ninety seven bucks. Included in that bundle is a six month membership to my blogging business club.
You don’t want to miss it because it’s got some awesome sales funnels that can actually help you take these formulas and reach those personal finance goals.
So let’s just have a quick disclaimer here. This video is not about greed. It’s not about being money hungry.
It’s not about any of that junk. It is so important that if you put all of your time, your energy, your money into a blogging business, that you see continuous growth month after month.
You do not want to be making the same five years from now that you are making today. Right. You want to see continuous growth. That’s not greed. That’s just savvy business.
So now that we’ve gotten that disclaimer out of the way and we’re all on the same page. Let’s talk about some of the analyzing that I have done of my blogging business over the past couple of years.
because when you create and sell products on your blog, it can really be a huge asset to your business.
If you are managing it correctly and if you’re really putting your energies and your efforts into it and you’re providing something of true value to people, like all things in sales, you will have ebbs and flows throughout the months. You know, if I look back and I analyze month after month after month of my products sales performances and I look over the past couple of years, I’m going to see, you know, highs and lows.
It’s just kind of how it operates. And there will be a lot of different factors. So this could be whether or not I was sick and actually working as many hours as I normally work.
This could be the season of the year whether or not my target audience is interested in buying.
It could be whether or not I had a product that people really loved or if I kind of just had a dud on my hands and I needed to say goodbye to it and start a different product.
Now, you guys know that I’m very much a numbers person and very scientific. I’m a self-proclaimed nerd. I have no shame. I like being a nerd. I’m totally comfortable with it.
And I get very specific in my analyzing efforts. You know, I really am looking at as many different causes as I possibly can. Am I performing really well in product sales in one quarter because of a strategy?
Because of an outside influence, because of X, Y, Z? You know what is happening that is causing me to have an increase in product sales or alternatively, a decrease in product sales?
And I noticed something really interesting. If I see an incredible boost in product sales during a certain quarter of the year, I am simultaneously doing something very specific in my personal finances.
The interesting thing to note is obviously this is personal, right? So in this video, I’m talking about my personal finances and how they affect or have some sort of relationship with my blogging business. Product sales performance.
Now, this isn’t going to always be the case for everybody, because I think it kind of just depends on the individual, how they operate with their personal finances, et cetera, and so forth.
So this may or may not work for you, but it definitely works for me. And I love sharing, you know, my real life experiences with running my blogging business. So what the heck?
I thought I’d share it with you. But here’s what I learned. There is a direct correlation between whether or not my husband and I are being very intentional in our personal finances.
That is there is something specific that we are trying to save towards or some goal that we have some big goal or big expense that we know will be coming up and we’re being very intentional with our personal finances.
So we’re cutting back on the grocery budget. We’re not going out to eat as often. We’re not spending as much money on new clothes and things like that when we’re being very intentional with our personal finances. And we’re saving more money.
Then I also experience a boost in product sales. And initially, I was super confused by this because it was a consistent pattern.
The more we saved in our personal finances, the more money I made in product sales. And I thought at first, that doesn’t really make a whole lot of sense if I’m making more money in product sales.
Doesn’t that mean I’m spending more? And the more I analyze this, I mean, going over statements from our bank accounts and looking and seeing.
No, see, this quarter we really great about saving. Like we stash away as much as we could.
And then over here are making more and more in product sales. It was a very consistent pattern. And then the more I looked at it, the more I just realized, boom, it clicks.
The more you are intentional with your personal finances and you have an actual goal in your mind that you were trying to get to, that you were trying to save for the more it’s going to kind of honestly for me.
Light the fire under my tuition, make me work even harder in my business to try to make those sales happen so that we can reach our personal finance goals.
Obviously, I’m very much a numbers person. I like to have a very actionable plan for myself. I want to have like step one, step two, step three. That way I can just be like boom, boom, boom.
This is everything I have to do in order to get to this goal. And so what I started doing a couple of years ago when I started to sell products on my blog, was I just kind of looked at my personal finance goals and then tried to create some sort of blogging business school that could help me get to that personal financial goal.
And in the end, I kind of created like this easy formula, if you will, that helps me get from point A to point B very easily.
And I’m going to share that formula with you guys today. But before I do that, I thought it might actually be kind of fun if I shared some of the different ways that we have utilized the blogging business product sales to help my husband and I reach a couple of personal financial goals.
So if you’re comfortable, I would love to know all about your goals. Please leave a comment below and let me know how your blog has either already helped you accomplish some of your goals or how you are using a blog to help you reach some of your goals.
Running a blog has helped us reach different forms of freedom in our personal finances. And here are just some of the examples of the way that we have used product sales in particular to help us reach those personal financial goals.
So first things first. When I started selling products, we had this old jeep from our college days. That was it undoubtedly had like the worst transmission I have ever known in my life. It was on its last leg and we knew that it was pretty close to just going compute.
It was basically done. And so we figured we could probably squeeze life out of that transmission for a head jeep for, you know, maybe six to nine months.
So that kind of gave us a date that we could look forward to. And we knew how much we really needed to save in order to purchase another vehicle.
The next example is actually the downpayment of this house. So we knew we were going to be relocating from Houston to the Kansas City area, give or take, about a month or two.
knew about which month it was going to be. And we also knew the purchase price of the homes that we were looking at. So obviously, knowing the purchase price, we also knew how much of a downpayment we needed to make.
So the product sales from the blogging business was monumental and getting that down payment for us. We had lofty goals and brother, we hit them because we worked in over.
I was really trying to push his product sales as much as I possibly could. And my husband and I were so thrilled that we were able to get the downpayment that we wanted for this home in particular. And that brings us to our current personal financial goal.
And quick note here. My husband and I are definitely a team and I have an incredible amount of respect for him. So I just wanted to clarify that before I shared these personal details, I did run it by him and just say, hey, I know normally we’re pretty private. Are you comfortable?
If I share a couple of these examples and he gave me the OK, so I just wanted to share that just because I have a lot of respect for him.
And I wanted you guys to know that it wasn’t just like talking about my personal finances online without him even knowing about it.
So our current personal financial goal and the way that we are using any of our blogging business products sales is actually paying off and completely wiping off the mortgage on this home.
By the time we are 35 years old, we do not want to have a house payment. And so I hope that by looking at those three different examples, you guys are catching the theme here.
Number one, we have an actual amount that we reach. We are trying to get to. So obviously with a mortgage, I mean, Luján. I know. Down to the penny. Exactly how much is left on the mortgage.
And then the second thing that you should note is that we have an actual date that we are rooting for. So I know exactly how many days I have left until we both turn 35.
So, Lou, it actually turns 35 first when I’m younger.
And then a couple of months later, I turn 35. That gives us something very specific that gives us actual numbers to look at.
So that, honestly, I know right now off the top of my head exactly how many products I have to sell every single month in order for us to make those extra payments on the mortgage so that we completely pay off the mortgage.
By the time we were 35, those are very specific numbers. And that specificity is exactly what you’re looking for when you create your personal financial goals and your blogging business goals.
So, again, if you are comfortable, I would love to hear your examples or your goals that you guys have.
I just think it’s so inspiring and also a lot of fun to see how people use a blogging business, not just as like something that they do. It’s not just like a job for them, but how they’re using it to really, like, change their lives and create different forms of freedom in their lives.
Now, without further ado, let’s talk about the two different formulas that I used to really create very concrete goals within my personal financial life. And then also my blogging business life.
It’s really important that you kind of create like a marriage between the two and that both of them are working together so that you can reach your goals even faster and even more efficiently.
So we’re going to work on the first formula here, and you’re going to need two things. You’re going to need your personal financial goal and also the number of months that you have left until your quote unquote, due date.
So let’s say that you want to save up a Christmas fund. Obviously, your due date would be December 25th or honestly, probably December 24th, so that you actually have time to go buy those gifts.
But that would be your so-called due date. OK, so here is what the first formula looks like. And what we’re trying to do here in this first step is find out how much we need each month to reach your personal financial goal.
So how much are you supposed to be making every single month in your product sales in order to get to that personal financial goal?
So the first thing that you’re going to do is take that personal financial goal and then you’re going to divide that number by the number of months left until your due date.
And this obviously gives us the amount that you need each month to reach your personal financial goal. Now, I thought it would be a lot easier if I gave an actual example.
So here’s what we’re gonna do now. Let’s say that you want to build up a thousand dollar emergency fund and pop quiz for all of you. Dave Ramsey fans leave a comment down below if you know which baby step that is.
But let’s say that your goal with blogging business product sales is to just build up a thousand dollars in an emergency fund. And let’s say that your due date is five months from now. So you want to build up and a thousand dollar emergency fund in five months.
Well, this means that you need to make approximately 200 dollars every single month in product sales in order to reach that personal financial goal. So that’s the first formula that I like to use.
And the reason this is important is because I want to know exactly how much I’m supposed to be bringing home every single month. You know how much of that is supposed to go in my pocket?
That way I can put it in the bank account. Save it up. And have, you know, whatever personal financial goal it is that I’m trying to reach. Now, the second part of this is that we actually want to figure out how many units of a product that you need to sell every single month.
The reason this is important is because sometimes it’s not enough to have just that figure in our minds.
We need to know exactly how many products were supposed to be selling, because this kind of specificity, seeing yet another number, another goal that we have to reach every single month in our blogging business helps us again.
I mean, at least for me, it really lights that fire under my tush and it makes me go, wow, I am on day fifteen of this month and I haven’t made any product sales out of this product.
So I better get working because I need to make the X amount of sales or I need to sell so many of this course in order to reach that personal financial goal.
So here is what that second formula looks like. You’re going to take that amount needed each month to reach your personal financial goal. Remember, that was the number that we had just gotten to in the first formula.
OK, so we’re going to take that number and we’re going to divide it by the net income for one product sale. Notice that I said net income, and I’ll talk a little bit about that in a second. But that’s important to note. We want the net income for one product sale.
Now, this formula is going to give us the number of products sales that we need to make every single month. Again, specificity is key. We want to know exactly how much we’re supposed to be bringing home. And we also want to know how many.
Like what number of products we have to sell every single month in order to get to that goal. So let’s talk very briefly about the net income for each product sale, because that’s a very important part of the formula that you do not want to skip.
Now, as a blogging business owner, we all know we don’t get to keep everything that we make. There are a lot of different fees or taxes involved. And so this is a very brief example.
Honestly, these numbers really mean nothing other than the fact that I was trying to come up with an even number at the end so that it would make the math really easy to understand when I do an example in just a second.
So let’s say that you have a workbook that you sell on your blog and it’s fifteen dollars. That’s what you sell it for. Well, depending on whatever software you use to sell that product, there’s probably going to be at least a dollar in transaction fees or credit card fees.
And then let’s also never forget that we have to set aside a little bit for taxes. You never want to be in a tight place. You know, when you get to tax time, let’s say you owe taxes on something.
You don’t have anything in the bank account. That’s a nightmare. We don’t want that to happen. So never forget to set a. Side a little bit in order to pay your taxes on those sales that you’re making.
So let’s take the 15 dollar workbook, we’ll take out a dollar for a transaction or credit card fees and then four bucks for taxes. And that leaves us with ten dollars in net income for one product sale. That means that if we sell a 15 dollar workbook, what we really get to keep in our bank account to put towards whatever we want is only about ten dollars. OK.
So here’s how we would take all of these different figures and plug them into this formula in order to get exactly how many product sales we need to make every single month. So two hundred dollars in sales. That was our monthly goal.
Let’s divide that by ten dollars. That is the net income for one product sale. So remember, we want to take the amount needed each month to reach our personal financial goal.
That’s two hundred dollars every single month. And we’re going to divide that by ten dollars, which is the net income for only one product sale. That leaves us with twenty products sales every single month.
So now we know that in order to get to that emergency fund of a thousand dollars in only five months, we need to sell two hundred dollars in sales every single month, which means that we need to sell at least 20 of our fifteen dollar workbooks every single month.
I know that that’s a lot of math. So that’s why I’ve got all of those different graphics for you guys so that you can really see it on the screen.
The important thing to note is that it’s so important to have very specific numbers. That’s what you want. You want to know how many products am I supposed to be selling every single month? OK. How much exactly in total product sales am I supposed to be bringing home every single month?
OK, now how many days or how many months or how many years, quarters, whatever. Do I have left? So you want the like, monetary amount and then you also want the number of days left or that time limit that you have on yourself.
Again, I just want to say friendly disclaimer, you know, this may not work for everybody, but in our personal experience in my husband and I, you know, and we deal with our personal finances, there really is a correlation between the intentionality of our personal finance goals and my product sales.
So if I know that I have a certain number, I’m I’m rooting for, like I really want to get this down payment for this house or now we really just want to pay off this mortgage and not have a house payment if we know exactly what number we’re looking at.
And we know exactly how long we have left, then we can be very, very intentional with the blogging business. And I know exactly right off the top of my head I know exactly how many units of a product I have to sell every single month until the day I turn 35, five years old.
And that’s how I’m going to reach my personal finance goal. If you guys found this really helpful or if you are using your blogging business to help your family reach your own personal financial goals, let me know if you guys want to travel or you want to save more.
You want to pay off student loans, whatever it is. I would love to know so that I can honestly just cheer you on, as always.