#004 - How to Get Started - Part 2 of 3 - Setting Your Personal Goals

The Part Time Entrepreneurs Playbook

In part two of this three part mini series, I talk about setting your goals. Lots has been spoken about goal setting, in fact, it’s probably the MOST talked about thing you find when looking for tips on building a part time business... I should know... I spent four years reading and watching this stuff! But I take a different approach. You don’t know what you need to do unless you understand the now, and that’s why we worked at understanding our own business (or personal financial situation) in part one. Now that we know what what we need to put each month, what we can save, and how much spare cash we can generate, we can put pretty precise timeframes on how quickly we can realistically achieve a certain goal. And I’ve split them into two categories... debt and financial freedom. You know how much debt you have, and how much you need to pay each month now, so you can use that data to work out a realistic debt free date... and beat it! You also know what your overall expenditure is, before AND after your debt is paid off, so you know what your part time business needs to achieve, monthly, if you ever want to turn it into a full time business and “sack your boss”. Next time, we look at the different options available to you, when earning a part time income, and which would suit your goals best.