Previously you determined your Why. That is your qualitative basis for launching your affiliate marketing career. Your purpose.
Now you need to establish your goal – your motivation for being an affiliate marketer. Your goal is a number and your quantitative basis for your new career. Quantitative – something you can measure to gauge your success. Your number is one of five types:
- Are you currently working full-time and want to supplement your income? (Part-time income)
- Are you working full-time, not happy with your job and want to replace your current income? (Full-time income)
- Are you near retirement or retired and will have or have a pension but need more income in retirement? (Supplemental retirement income)
- Are you near retirement age or retired but do not have a pension or retirement account? (Full-time retirement income)
- Do you want an income that will let you live the life of your dreams? (Your Dream Life income)
If you want to generate part-time income, how much additional income do you need/want to make a month? Do you have bills your current income doesn’t allow you to fully payoff or do you want to buy a home that you currently cannot afford? Do you have upcoming expenses or dreams (college for kids, a vacation, new car, etc), that you need additional income for? Once you decide what those extra expenses are, total them up and then break them down over how long it will take you to achieve it.
For example, if you have $30,000 in debt and want to pay that off in two years, that is $15,000/year or $1,250/month. So your goal is an extra $1,250 income per month. Or maybe you want a $500,000 house ($4,000/mon), but can only afford a $250,000 house ($2,000/mon). That is a $2,000 month difference so your goal is $2,000/month. Don’t be afraid to dream about this. It is achievable with consistent effort. To help you calculate this, please click here.
If you want a full-time income, do you just want to replace your current income or do you want to create a higher income to achieve the life you would like (college for kids, new car, vacation every year, etc). This is two parts: how much will it take to replace your current income, and how much will it take to live how you would like? Many people blurt out “I want to make $10,000/month.” Really? Is that your current income? If so, that would be realistic. If it is not, but rather $48,000/year or $4,000 month, for example, $10,000/month is unrealistic. Have you ever made $10,000/month? That is a significant, six-figure income that most people don’t make. Will you eventually make that? There is a good possibility. However, let’s calculate.
Firstly, determine all of your required monthly living expenses such as house and car payment, insurance, food, utilities, etc. That is your basic living expenses number. Secondly, total all of your minimum credit card and loan payments. That is your debt amortization number. Add that number to your basic living expenses number and this is your monthly expenses number. That is the monthly amount you need to meet your current required living expenses. Thirdly, calculate those expenses you will have to live the life you would like (college for kids, a vacation every year, new car, etc), broken down as a monthly amount (see the part-time section above), to your current required living expenses. That is the total full-time income you need to make to live the life you would like.
If it seems like a lot, do not be overwhelmed. You will not achieve this overnight or within the first few months or year. It is not a sprint. You set small, incremental, achievable goals to first achieve your monthly expenses income goal and then keep working to achieve your goal. It is not about getting rich quick, but getting rich forever. To help you calculate this, please click here.
If you want to generate supplemental retirement income, how much additional income do you need per month? Do you still have debt to pay off, then total the debt, decide how long you want to take to pay it off in months, and that is the additional income you need. That is your supplemental income number. Is your current retirement income insufficient to live the retirement life you would like (a new car, a vacation every year, more doing and entertainment activities, etc)? As described in part-time income above, total those extra expenses up and then break them down into what it will cost each month. That is the other additional income you will need. Total those two up and that is the ideal supplemental retirement income you will need to live the life you would like.
Again, you will not achieve this overnight, but you can achieve it by putting in consistent, quality effort to your business. One measurable, achievable goal at a time. How badly do you want that? Will it be easy? No. Will it be worth it? Yes. To help you calculate this, please click here.
If you don’t have a retirement pension or account (401K), how much income do you want to create a month for the retirement you want? As I described in replacing your job and current income above, first determine your monthly basic living expenses and then add your monthly debt amortization amount, which at retirement age should be less. That is the amount you need to meet your current retirement living expenses. Then decide on what type of retirement life you would like to live (a new car, a vacation every year, more dining and entertainment activities, etc)? Total those additional expenses up then break that down into what it will cost each month and that is the additional retirement income you will need. Total those two amounts up and that is the total income you need for your the retirement life you would like to live. To help you calculate this, please click here.
While it may seem like a lot, don’t stress. You will be consistently working your business to achieve that. It is not a sprint, but a process that builds on success. You are also retired so hopefully you will have more time to seriously devote to your business to achieve that goal sooner.
Your Dream Life. While achieving any of the above goals would be nice and you would likely have more freedom and security, why settle for nice? Dare to dream. I started my affiliate marketing business not to afford a nice life, but to generate the income I need to live the life of my dreams.
What would your Dream Life look like? What would that number be? To help you find your dream number, if you have not done so already, get Dean Holland’s free book The Iceberg Effect. In Chapter 4 – Life By Design, he walks you through the steps to calculate your dream life number. You can get the book by clicking here: The Iceberg Effect.
If you have calculated your dream life number, yes, that may seem impossible right now. Remember, this is not about getting rich quick but about getting rich forever. Your Dream number IS achievable. Just break that down into smaller, incrementally achievable goals. First goal is the supplemental or replacement income you need. Then aim for that additional income for the retirement you would like to live. Then aim for your dream life income. Each of those incremental goals can be broken down into smaller achievable steps as well.
This is a long post. However, determining your quantitative goal number is very important. You need to know your end goal so you can backward plan the smaller achievable goals and from there the even smaller achievable steps to get there. Take time to think about this. I did. When was the last time you dreamed? Just do it.
This is a fantastic post, Jordan! It really breaks down the different financial goals one might have and offers a clear, step-by-step process to achieve them. The emphasis on setting realistic, incremental goals and the reminder that this is a journey, not a sprint, is incredibly motivating. I appreciate the concrete examples and the encouragement to dream big while staying grounded in achievable steps. Thanks for sharing such practical and inspiring advice!
Thanks, Alison. I tried to give a succinct summary of what I thought were the four different types of people interested in affiliate marketing, and not get bogged down in too much information. Obviously I relate to retirees and those about to retire the most. Thanks for your kind words. I try to give value to every who decides to follow me. I’m just a regular guy doing this.
Jordan
Jordan, This post is really helpful for anyone starting their affiliate marketing journey. It makes it clear that setting a specific financial goal is essential. Breaking down expenses and income needs into manageable steps is a smart approach. Thanks for the detailed guide on how to calculate and achieve our goals. It’s inspiring to think about turning dreams into reality with consistent effort. Thanks, Atif
Thanks, Atif. As I said before, I always enjoy reading your posts. They are so good and practical. It’s nice to hear comments like that from you. It lets me know I am doing something right that resonates with people. After all, that’s why I have this blog. I apply my own advice – I have small, measurable goals that will help me achieve my dream life. Have a great week.
Jordan
Hi Jordan,
I wanted to express my gratitude for your post outlining the significance of setting clear quantitative goals in affiliate marketing. Your breakdown of goal types, from part-time income to dream life income, has truly resonated with me and inspired a new perspective on my own career aspirations.
The emphasis on incremental goal-setting and the reminder that success is a journey, not a sprint, was particularly motivating. Your insights have encouraged me to reevaluate my own goals within the affiliate marketing realm and have sparked a renewed sense of determination to strive for a more fulfilling and financially stable future.
Your visionary approach towards achieving one’s dream life income struck a chord with me. It has prompted me to dare to dream bigger and to believe that with consistent effort and strategic planning, any goal is attainable.
Thank you for reminding me of the importance of setting measurable goals and taking the necessary steps to work towards them. Your post has not only provided valuable guidance but has also inspired me to dream boldly and pursue my affiliate marketing goals with determination and focus.
Warm regards,
Ezequiel, thanks for kind words. My goal was to help anyone in difference stages of life and situations. We all know what our goal is, but we should not make it impossible to get there. One incremental step at a time. That is what I am doing, and while progress is not fast, it is consistent and that is key. For me this is not about competition but helping others achieve their financial goals. If I can give guidance on how to achieve that, I feel we both win. Comments like yours let me know I am doing something right and motivate me to keep trying my best. I have no doubt you will achieve your goals.
Jordan
Jordan, my number is 40k this year to finish building my house.
Your post is both practical and motivating! The lesson on breaking down our goals into manageable, realistic steps is a game-changer, the small steps are so much more believable than the giant jump.
Thanks .
Hi Tony. Sounds like a good goal. Measurable, practical and realistic. When you achieve that goal, you will have the additional confidence to aim higher for your next goal. Success begets success. That is the mindset I have as well. Have a great week.
Jordan
Jordan, Great post, very clear and concise. Each section clearly stated what one would need to take into consideration in calculating their number. I also really liked the “You need to know your end goal so you can backward plan the smaller achievable goals and from there the even smaller achievable steps to get there.” When people concentrate on that final number it always seems to be unachievable so by breaking it down into more swallowable amounts we can see the light at the end of the tunnel.
Thanks, Ken. One of the things that stayed with me from the military is the concept of backwards planning. Very applicable to goals. I know my niche is more retirees and those about to retire, but I still want my posts to be applicable to everybody.
Jordan
I would definitely fall into the supplemental retirement category. This is a great guide for any budding entrepreneurs to establish their goals. Extremely well thought out.
Hi Jordan,
I hope you can achieve many things with the help of affiliate marketing.
One of the things I’m doing is setting smaller goals for myself to achieve bigger ones.
I personally have a board on my wall where I write down my list of small goals and cross them off whenever I achieve one.
My mission, which I already discussed on my blog, is my bigger goal.
Keep it up, and thank you for sharing .
Thanks, Alberto. That’s a great idea. As Dean taught us, I believe in setting smaller, stepping stone goals, in order to achieve bigger goals, which ultimately leads to our dream life goal. However, I had not thought of writing down my small stepping stone goals to cross them off as I complete them. What a great way to visualize our accomplishments. I wish you the best in achieving your goals with affiliate marketing.
Jordan
I totally get where you’re coming from with this. It’s so important to have a clear goal in mind when you’re starting out in affiliate marketing. For me, aiming for that full-time income is the dream. I’ve crunched the numbers and know exactly how much I need each month to replace my current job and live comfortably. It’s a bit daunting, but breaking it down into smaller, achievable steps makes it feel more doable. Plus, I love the idea of working towards that dream life income eventually. Thanks for breaking it all down – it’s inspiring to see the path laid out like this!
Cheers to dreaming big and making it happen!