Perhaps you want to increase your income by 25 percent—or 75.
In either case, there are certain questions you should be asking yourself:
- What is my average annual commission per client?
If you sell different products/services, you might ask:
- What is my average annual commission per client buying product/service A?
- What is my average annual commission per client buying product/service B?
Here’s an example: Mary sells widgets to both individuals and companies. Over the past 3 years she has sold to 300 individuals and 114 companies.
Her average commission for selling to an individual was $375, while her average commission from selling to a company was $1,050. Last year she earned $107,050.
Mary wants to increase her income by 22 percent (or $23,500) this year for a gross income of about $130,000. Because she knows her production/commission numbers, she knows exactly what she must do to reach her goal: sell to an additional 28 individuals and 12 companies.