Bonus w/ Purchase: Your MAL # (ideal #) in Detail
Hello everyone so we are in this special bonus lesson which is your male number in detail so in lesson too we talked about your make a living number and we did all of the calculations that you need in kind of a back of the napkin sort of way but what we're going to do now in this lesson is dive into our spreadsheet here and break down the numbers a little bit more so included in your purchase you get this spreadsheet and you can either use it in numbers or excel so whichever program you're working on and this is really great for two reasons one if you want to dive deeper into your numbers you can go ahead and plug this in and really work everything out and kind of see it really clearly the other reason that this works really well is if you I don't want to do the math all the formulas are already set up in this so you can go ahead and her things in and actually test out your scenarios and see how you make a living number changes by tweaking different areas of your business let's go ahea...
d and take a look there are three tabs on this spreadsheet and so what I wanna do is just walk you through how this works and how you can use it to calculate your number so the first tab is going to be your business break even so this is all of your business expenses, so what you could do is you can either go through the last twelve months or you can project out what you think they will be for the next twelve months and you can plug things in, so the reason that I did it monthly is because I wanted you guys to be able to break it down if you have expenditures that very for a month to month now, if you want to cheat a little and you're like, well, I know my annual number what you can actually do is if you're like, well, I know I spent a thousand dollars on materials and you don't go if you but every month in you can plug any thousand, so if you don't want to do month by month, you could just stick it in the last column and it'll still factor it out for you so you can go down in here and you can fill out all of these categories. So let's say that you know, that you need to buy you a new tool next year so you can go ahead and factor that in. So maybe in october you're going to buy, you know, a new something that costs four thousand dollars, what costs four thousand dollars something you're going to buy that maybe you've got outsource some production you can put that in there so you can start to just accept that percentage because it's dollar sign actually, if I just put in numbers, we'll do it so you can start to plug in these numbers and what it will start to dio as we scroll down, is it going total up for your year and then it's going to give us your monthly brake, even right? So it'll do all of this, matthew could work through everything, and if you have other categories that you need to add and you can go ahead and add them at the bottom. So what's great about this is that you could run a scenario where it's just you in the business, and then you could come back in and say, you know what? Yeah, I really need to add an employee. There is no way I could do all this on my own. I'm going to plug this employee in there and see how that shifts my number, right? So that's the first piece of this, then we can go into the second piece and there's two options on the second piece of the video, so the first one is, if you have an existing salary that you know you want to hit, you can just plug that in in the top column now, just a little note. The top column doesn't populates the next page, so if you're doing that, you'll do a manual edition, but so in this case, you know, lisa said, I know I want to make seventy five k annually, she could just pluck that number and be done with this, you may decide that you have this idea of what you want to make, but you want to increase it is the year goes by so that's something that you could do in this as well. So you could say, you know, for the first three months of the year, my goal is to pay myself a thousand dollars, but by the time I get to, you know, april, I want to pay myself a little bit more, and by the time I get to holiday, I wouldn't pay myself a little bit more, so one of these things have to stay the same. Now, if you're really not sure what you want your salary to be, you know you may be you are coming from a day job, you're just starting out, you just came out of school, whatever it is, then you could actually go in and figure out all of these personal expenses you can see I plugged a few things in here just for fun magic s o maybe you come in and you decide you know what I really want to go somewhere warm in january. I'm gonna plug that in. I wanna take my kids to the beach in july. You wanna do a little bit, get away in the fall, you can start to plug those things in and see how that affects these numbers. And then this is where the real magic happens, right? We could go over to the third spreadsheet. What it's going to dio is pull that number from the first sheet. So that's, our business break even our lifestyle break in break even. I'm gonna give you our annual total for those two numbers. Right? Then this magically ads in all those extra little buffers for us, right? We've got savings. We've got profit and we've got taxes. Now you may be in a different tax bracket. You may want a different savings percentage. You can go in and actually edit all of these numbers as well. So let's say after doing all of this, I realize I should really be in forty percent tax bracket. So now that changes I make a living number so you can use this to run a million different scenarios for your business, to really figure out where you need to be and what you need to do with your business. As things change, she has any questions about the spreadsheet all right, well, that's it. I want you guys to get in there, use this spreadsheet, play around, really dive deep into that, make a living number, and then, just like we talked about before, gets to know that number is going to be scary. Get comfortable with it. But in this case, you could run a lot of different scenarios to see what really feels right for your business. And you can do it for the next year, the year after the year after. So you're building towards a bigger revenue goal. You can break it down here by year to help you get there. That's it. Thanks, guys.