I always feel the need to plan things out, yet I almost never do it. I love thinking through all the top-level things that need to happen or that I want to try, but I don’t necessarily follow-through and make an actual plan.
That needs to change!
So right here and now, I’m making a plan.
I’m re-reading “The One Thing” and it has a format that I like. Obviously, the “focusing question” from that book is something along the lines of:
“What’s the one thing I can do right now that will make everything else easier or unnecessary?”
But further than that, he breaks it down by time frame, so what’s the one thing I can do in 5 years, 1 year, etc. By starting at the end and then breaking things down, you can get to actionable items right now that, over time, will lead to that goal.
So what do I want?
I want to make enough from my business that I can essentially do whatever I want and retire early, but also be able to work entirely remotely and spend very little time on the business.
How can I get there?
Well, let’s try and figure out what that means. I could pluck a number out of the air, but I want to say that it means somewhere around $500,000 in personal income for the year, while working 10 or fewer hours per week.
I like the idea of continuing to use hosting, updates, and WordPress maintenance as the main source of income, because they are all scalable.
If I continue focusing on WordPress, I think that for each client I could expect something like $150/year in profit on hosting, $75 for updates, and perhaps $150 for maintenance.
So that’s $375 in profit per site, per year. To get to $500,000 then, I would need 1,333 and 1/3 clients.
That’s a lot of clients! But honestly, that’s totally doable.
I’ve got maybe 275 hosting clients now. They aren’t all WordPress and they won’t all bring in $375, but I’m working up to that. To be safe, let’s say I need 1500 clients in 5 years.
With the 275 I have now, I still need 1,225 more, or 245 new ones per year. With attrition, that number is going to need to be closer to 300, most likely.
Now, my goal for this year was 100 new hosting clients, and I still intend to exceed that goal. Obviously that won’t cut it if it’s all I can do each year.
However, this first year is going to be the most important one, because it’s where I’m going to figure out how to rapidly get new clients. I’m going to experiment and try things and hopefully accomplish something that’s repeatable.
So without further ado, here is my priority for each time range.
The one thing I can do in 5 years:
Service 1,500 website hosting clients
The one thing I can do in 1 year:
Figure out a scalable, repeatable method of acquiring new clients and investing heavily into it, resulting in 100 new hosting clients.
The one thing I can do in 1 month:
Test a variety of different methods for acquiring new clients and see what works.
The one thing I can do in a week:
Put a plan together for what I’m going to test and put concrete timelines on everything.
The one thing I can do right now:
This!
There, I did it! I’ll need to review and plan over time to see how things are going, but I think this is a great start.
In “The One Thing”, he recommends spending literally 4 hours per day on advancing your “one thing”, and that definitely makes sense. I think to start I might start blocking off 2 hour chunks and really hitting it hard.
I think it’s really, really important that I actually do this. If I think back to how my time has been spent historically, only a tiny fraction of it has been spent on improving the business and implementing actual plans that I’ve had.
That really needs to change! And it will only happen by actually blocking off time. I’m making a note to figure out all of that tomorrow!