In this Q&A episode, I’m answering Jodie’s question about how often I set myself a fast money target.
I also have a bit of an out of the box freebie for you today as well so make sure you go and check this one out.
Let’s dive on in!
Today’s question comes from the fabulous Jodie Thornton. You can find out more about Jodie at jodiethornton.com.
She is a parent coach so make sure you go and check her out.
Jodie asks a brilliant question, which is:
“Hi Tash! How often do you set a fast money target?”
This is a really great question. Even though it’s going be a pretty quick episode, there are some great little lessons in this one.
First and foremost: What is a fast money target?
For those of you who are in my audience and have been around for a little while, you probably are familiar with this.
I do have a Fast Money training, and I also have a Fast Money Challenge that I run from time to time that’s focused on setting and achieving a stretch income goal in a really short period of time.
I call it Fast Money (it’s named after the fast money round on Sale of the Century).
Fast money is for when you want to set a big income goal for a short period of time, and you want to bring in that fast money.
My fast money goals are usually a seven to a ten-day goal. I don’t always have a fast money target going at all times at this stage in my business, however, I always have a quarterly income goal, or sometimes I’ll set it for a little bit longer (maybe it’s a 100-day income goal).
I love setting a goal for the first 100 days of the year, so I’ll have a 100-day income goal usually at the start of most years.
That’s not necessarily a fast money goal, it’s more of an extended period of time.
I would define a fast money goal as something where I’m going for a stretch income goal – maybe it’s seven, ten or even fourteen days.
Due to fast money being a short term goal, I only ever really set a fast money goal these days when I’m doing a launch. Maybe I have a launch and in the six days of the cart being open, I set myself a big stretch income goal for what I’m going to bring in at that point in time.
I recently needed to purchase some things – a new phone, Apple Watch and a few other tech tools and toys – so I decided that I was going to go and manifest the money for those in three days.
That was a really fun little challenge that I set for myself and another example of when I would set myself a fast money goal.
The other thing that I use fast money goals for these days is when I see in my cash flow projections that cash flow might be a little bit tight in the coming months, so I do a fast money goal in a short period of time to manifest that income to get me through that poor cash flow period.
That definitely has been something that I’ve only brought into my business recently. I never used to do cash flow projections, but now that I do those more consistently and I can see what’s coming up, I have been doing those fast money targets for myself once every couple of months. It makes it easy for me to see that if I only get my predicted income in for the month, then I may be a bit tight on cash flow and I’d rather have a nice buffer for myself so I end up doing a fast money challenge.
However, all of that being said, when I was in start-up, I actually did a fast money target every single week.
Every single week, I wanted to challenge myself to see how much I could earn for that week.
I would stretch out my goal a little further, I would have a look at what’s coming up for the week and what would be a nice juicy stretch for me, and I would set myself a fast money challenge and I would go for it.
Every Sunday morning I’d do a review of the past seven days and then I’d set myself up for the next seven days.
For those people who are interested in my answer to this question because of where they’re at in their business and using that to guide with how often they set themselves a fast money target, what I would say is set it for as often as you want.
When I’d set myself a fast money target and stay focused on it for those seven days, my income was always better – whether that be during the seven days or in the following seven days.
For me when I first started my business, that was actually me practising and refining my own manifesting strategy. That’s why I did it so consistently.
I might take a week off every now and again or sometimes what I would do is I would start on a Sunday and end on the Saturday, and then the following week, I would just take three or four days off and start on the Wednesday and then do a 10 day fast money target.
It’s really up to you.
For me, I’m the kind of person who works really well when I have short term goals, I have deadlines, and I have a process to follow.
That was a really great way for me to prove to myself that I can improve my income each week.
As my business started to grow and my income became a little bit more predictable, I would create my fast money target for the first week of every month.
If I wasn’t close to my monthly income goal at the end of the month, I might do a fast money target than as well.
There are lots of opportunities to do fast money targets for yourself and set yourself that short term stretch goal and go for it.
I would say to just pay attention to how it makes you feel, whether it really lights you up, and how well it works for you.
Also for me, the big thing that I got out of doing those fast money challenges back to back was that it really showed me how to notice the difference between being tired and needing to take a break from stretching myself, and resisting the mindset work and actions that I knew would grow my business.
It was so good for me to be able to learn the difference between the two.
I was constantly checking in with myself and asking: Is this my resistance, limiting beliefs and mindset blocks coming up? Or is this just me actually feeling a bit tired, not wanting to go for a stretch this week, and wanting to allow myself a beautiful rest week?
A little bonus tip here, and what really worked for me, was that I recognised when I started doing fast money targets very consistently, that in the week I was due to be menstruating, that was not a great time for me to go for a fast money target.
I found that those weeks were a great time for me to be a bit more reflective and connect in with my goals.
Some of the actions that I wanted to take to get out there and start bringing in that money weren’t necessarily aligned with where I was at in my cycle.
I learned about that by doing both Flow Freedom and Your Business Your Flow with Stasha Washburn.
If you don’t follow Stasha, I highly recommend her. You can also find her on Facebook HERE.
That was definitely incredible for me and was a big part of me learning: Is this tiredness because it’s not the right time? Or is this the right time but I’m in resistance because I actually don’t want it to work? Or I don’t want to try and then fail and have made people see me publicly fail? Is there some other mindset block coming up for me here?
Nowadays, if I’m going to do one of those short term income targets, the first thing that I check is where I’m going to be in my cycle.
I also make sure to check: What is coming up for me right now in terms of the different phases (because we have those four phases that you need to learn more about from Stasha)?
That has been instrumental in me really learning how to ride along with the ebbs and flows of my energy, and tying that into how I schedule myself and whether I’m in stretch mode or contemplation mode in my business as well.
Jodie I hope that I’ve answered your question.
If you are interested in finding out more about setting and achieving short term income goals, I do actually have a free training.
It’s my Fast Money training.
I highly recommend that you go and check that out here: tashcorbin.com/fastmoney
If you’ve been reading this podcast episode and you’d like to ask me a question, make sure you go to tashcorbin.com/question, pop your question in there and I’ll make sure to answer it on the podcast and give you a shoutout.
Thank you so much for joining me for this episode of the Heart-Centred Business Podcast.
As always, make sure to come on over to the Heart-Centred Soul-Driven Entrepreneurs Facebook group, share any aha’s or questions you have using #podcastaha and the episode number (243) and I’ll see you over there.
Until next time, I cannot WAIT to see you SHINE.