Here’s a great collection of sales projections and goal setting formulas that every freelancer needs. Use these as part of an annual review to make sure you’re spending your time and resources in the most effective places and with the most profitable clients.
Included in the infographic, freelancers get the following:
- Close Rate Formula: Shows the percentage of proposals sent that converted to paying clients
- Average Contract Formula: Shows the average dollar value of each contract
- What Are Your Goals Questions: Helps you to figure out how much money you’d like to make this year
- Number of Sales Needed: Shows the number of sales you need to make to meet your financial goals
- Number of Proposals Needed: Shows the number of proposals/quotes you need to send out to meet your financial goals
- Proposal Value: Shows how to equate a value to each proposal you send to help keep your momentum up
- Hourly Rate: Shows what you are making per hour
You’ll also get ideas on how to categorize the different types of business you do and how to use referral sources to increase in your bottom line in the upcoming year.
The future looks bright when your goal setting is in place. With these formulas, you’ll know exactly what the path to success looks like. Now get going!