Kate McKibbin explains how to attach concrete rewards to your business goals. Use quarterly mini-rewards and a year-end reward, set stretch thresholds with scaled payouts, and budget a small percentage of revenue for them. Pick what actually motivates you, whether that's a massage, time off, or a family experience.
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This is the Doing It Online podcast with your host, serial entrepreneur, 6 and 7 figure funnel strategist and super nerd Kate McKibben. Where every week we're here talking, nerdy and sharing the things that actually work to help you do what you do online. But better, easier and with a ton more profit too. Are you ready? Let's do it.
Hello. Hello guys. It is Kate McKibben here from HelloFunnels Co and welcome to episode number 29 of the Doing It Online podcast. Now today is actually the fifth part in our five part plan, your most epic year yet planning series. If you haven't listened to the other four episodes, I strongly recommend you go and check them out first. It will all make way more sense. And I've literally walked you through step by step, the planning process that I take my high level clients through to help them map out their goals and turn them into actionable plans and to set, you know, really great, exciting goals that actually mean something and motivate you and that are doable and achievable as well, as well as a bunch of other good stuff in there that is really going to help you to make your year, as I said, the most epic one yet. And after the year we've all just had, who doesn't want that? So like I said, guys, go check those out. And if you have been playing along and you are finished, you know, all four reps and you're ready to dive into today's episode. I'm so excited to share this one with you because today is, it's kind of, I think the, my favorite part at least of the planning process and that is today is all about rewards. So I'm going to keep this really, really short and simple. Guys, I know you're all busy, particularly this time of year, but I think it is so important when you are sitting down and setting yourself a big juicy goal of any kind is to also set yourself and your team, if you have them, some kind of reward. Now you will know as a human the kind of stuff that motivates you the most. And you know, just hitting a goal is one thing and it feels great. But hitting that goal and then knowing that you're allowed to go out and buy yourself a gorgeous new handbag totally guilt free, that's, you know, that's next level. Well, it is for me anyway. So think about, you know, the goal that you've set yourself for this year. And there's different ways of doing this. Like if you, I personally like to break it down into quarters. So we have quarterly goals and then each of those goals has sort of like a little mini reward. And then if I hit the goal at the end of the year, then it's like, it's a much bigger, you know, sexier, shinier kind of reward. And there's all kinds of things. These don't have to be expensive things either. Maybe it's time off, you know, maybe it is going to get your nails done. Maybe it's splashing out and updating something that you need, you know, buying yourself a gorgeous new piece of stationery or something. Just something that's going to make you feel really good. And it's something preferably that either isn't necessarily work related either. I think, you know, something that takes you out of, you know, away from the office to go do something different to break things up. It just.
It'S, it's hard to put it into words, but it just makes it more meaningful. And it's that, it's that gold star, that pat in the back. And yes, it's from you, I get that. But you know, as business owners, we, you know, and not everybody is motivated by this. So if this doesn't sound for you, you know, like you're like, I don't know if I need that. Think about what does motivate you and what would feel good and what would feel like a celebration to you. Because that's the other thing I think is really important about this is that as, you know, as ambitious people, humans, creating businesses with our big goals, even when we smash those goals, I know I'm not the only one who does this. As soon as you start getting close to that goal in your brain, you start to move the goalpost. So you, you, it's almost like you set yourself up so you never achieve the goal. Like I literally did this the other day I went, because, you know, I'm recording these in December. So I went and looked at the end of year, you know, our stats and how we're sort of tracking for our end of year goal. We're so close to hitting it that I changed it. Ridiculous is that I changed it so that it would be even more so it would be, you know, so. And I actually thinking about this, I'm going to go change it back because that's just ridiculous. But I was like, oh, we're going to hit this easily, let's move it. Which means that to something that we may not hit easily or may not hit. And then I wouldn't get that feeling of satisfaction. Of achieving that goal. So I think it is important to have this as a ritual, as something we do where we get to celebrate what we've achieved and we get to celebrate our wins and we celebrate our progress. The other thing that you may want to bake into this kind of like little reward system, as I said, this is, this is your business, your motivation, your team, if you have one. Think about something that feels good and makes sense and fits in with your budget and all of that. But I know sometimes people will have staged goals as well because you know, if you got 99% of your goal, you'd, you'd feel pretty, you know, bummed out that you didn't get some kind of reward because you worked really hard and you got so close. So I know a lot of people have you know, like a 10% below and a 10% above, like a stretch goal as well. And if you hit that 10% below, then you get like a slightly smaller reward, whatever that is. If you hit the temps and above, then it's a bigger one. So I will leave it up to you what you decide to make the rewards as it and whether or not you extend it out to your team or certain members of the team who are maybe more involved in the financial side of things and the sales side of things.
Hey, it's Kate here and I've got a bit of a super nerdy present just for you. It's my six figure course calculator. Inside it shows you exactly the impact that growing your list, creating a course and going evergreen can have on your business and exactly how quickly you'll be able to do it too. It's pretty powerful and totally free. Just head to hellofunnels co calculator and grab it now totally for free. And then jump in and start mapping out your own epic six figure course empire today.
Gotta feel right to you. Don't go getting all excited and overly generous. It also has to fit within your budget. But that's why the thing I like about having, you know, rewards based goals as well is like if, okay, if your goal is to hit a certain number of sales, then you can put aside a certain percentage of that to be for the rewards. So Maybe it's like 0.05% or something like that goes is your reward budget. There's lots of different ways of doing this, guys. It's about finding what's right for you. Me personally, my love language is massages. So I have a quarterly goal and if I hit that, I get to go and have a Beautiful massage at, you know, this really luxe, probably slightly overpriced place, but I just freaking love it. I love the whole experience of it. It's amazing. And if I don't, you know, if I've got that 10% below goal, I still get my massage, but it's just at the physio down the. So I still get to actually have the muscle release. But it's not just not quite as nice an experience. But both are great, you know, both are wins, both are, you know, celebrations. Both are meaningful to me. So go find that equivalent for you, sit down, map them out. As I said, whether you want to do them quarterly or yearly. If you're the kind of person who'd much rather have a big thing to work towards, do that. If you're the kind of person who needs to be ticking off smaller things, do that. It's about making it work for you and motivating you. And let me know guys, what your reward is. Is, is it, are you a massage girl or a spa treatment girl like me? Or are you going to go and, you know, is it that amazing handbag that you've always wanted? Is it a, you know, weekend away with your partner without the kids? Is it some family thing with the kids? Like everybody obviously sort of, you know, sees these rewards differently. Is it splashing out on a babysitter for a day for you to just go and do freaking nothing like make it your own. And let me know, let me know over on instagram @Kate McKibben what your reward is going to be. And also let me know what has been your favorite part of this five day planning. Like if you've used it, if it's been helpful, I would so love to know. I really, really hope that, you know, it was my intention creating this. This is going to be something that's going to be super useful for you to sit down and have a really solid plan. Real solid numbers, not just stick your finger in the air kind of numbers. Because I know the difference that it makes when those numbers actually mean something. And actually you then can actually see not just that that number means something, but the plan means something as well. And you can see how it all comes together. So I hope you've loved it guys. I hope you nerded out hard on the spreadsheet. I know I did. Putting it together. I really love sharing this with you all. Back to regular schedule programming next week, if you haven't already. Make sure you subscribe so you don't miss that next episode. It is a doozy. And until then guys, keep doing what you do and I'll see you in the next episode. Bye.
Thanks so much for listening to the Doing it online podcast. If you love this episode, don't forget to subscribe and leave us a review. And if you're ready to take your online course sales to the next level with your own six or seven figure funnel, let Kate show you exactly how today@stealmyfunnel.com.
