Coaching Call with Leedo Daniel #3

httpvh://www.youtube.com/watch?v=KIlc9FA0EsE

In this video coaching call (the almost final session):

  • What to track
  • Why I might be looking at the wrong metrics
  • Motivational waves and how to match your activity
  • Selling vs. creating

Coaching Call with Leedo Daniel #2

httpvh://www.youtube.com/watch?v=uMQsFk1ti9Y

 

In this call we talk about refining the goal and the team. I have prepared some numbers about my financial goal and about the current situation. We also talk about people around me that are going to help me build the system I want. Very eye-opening discussion with the CEO of Sugar Habits.

SMART goal for passive income

In Coaching Call #1 Leedo told me that it would make sense to refine my goal. I sat down and looked at my Monthly spending, both personal and business-wise. Oups. That’s about 2x of what I was guessing I’ll need. Good I checked. My jaw kinda dropped, when I looked at the figures of my Passive Income in June 2012. Argh.

But let’s focus on the task at hand:
Setting a SMART Goal

Monthly spending

Wow..that was a revelation.

I do not think that I even counted everything, but I sat down and looked through my bills – in order to find out what I am spending on a monthly base. This is a pretty rough estimation and my guess is that the numbers are even somewhat higher than what I did write down. However it’s a good start. I am going to make that list better and get a more accurate estimation

  • Business spending / month: 1350€
  • Personal spending / month: 2500€
This means that I actually start to make money only after I have made 1350€ / month, because of expenses and that I need about 4000€ / month to just keep everything running and not building any capital. Good to know, but also kind of bad to see, given my evaluation of passive income was just 175€ in june. That is not even 5%. Maybe that would be a good rate to measure: Percentage of monthly spending in passive income.