I am thrilled to be opening a restaurant in January. I think we have a solid chance of being successful, which means my income will be more predictable. It means a lot of things will be more predictable since I'll be working a routine schedule every day. While I didn't do so bad in 2010, there is so much more potential in 2011. Here's what I will accomplish in 2011.
My 2011 Goals
My 2011 Goals
- Lose weight. At least 12 pounds, but ideally 24. I realize my 2010 goal was too much and I was discouraged. I need to lose a lot of weight, but surely I can do one pound a month.
- Increase my net worth by $50,000.
- Reduce utilities expense by 10%. In 2010 I spent $2,703 on electricity, natural gas, water/sewer, Internet and phone. My goal is to reduce this to $2,433 in 2011, or spend on average $200 per month.
- Cut credit card/car loan debt to $8,000. It was $44,979.53 at the end of 2010.
- Pay off car loan by 4/30/11.
- Manage each line item of the restaurant's financials to within 1% of budget. There's too much for me to list here, but basically I have set a budget for labor, food cost and other variables. Obviously it doesn't make sense to set a revenue goal this year, but I can keep my controllable costs within line. So, if my budget for total labor is 30% of revenues, my goal is that it doesn't go over 31%.