How Much Do You Want To Earn?
Gross Revenue is not income.  Revenue is the gross earnings before expenses and taxes.  Net Income is what you keep after all is said and done. Let's face it, that is what matters.  You can earn $1,000,000 but if it costs you $990,000 how much did you really make? If you do not set yourself an income goal for the year, chances are you will not achieve it.

Know All Your Expenses.
There are two types of expenses, fixed and variable.  In real estate that translates into Overhead and Transactional Expenses.  Overhead would be defined as those expenses, such as license fees, E&O insurance, signs, MLS access, etc., expenses you would incur just to function in the industry.  Overhead is the silent killer as most agents do not take this into consideration when calculating all their expenses.  Transactional expenses are those that incur with each Listing or Buyer (gas/mileage, advertising, etc.)

What's The Size of Your Market?
You must have your hands around the market. Pinpoint your market, whether type, geographical boundaries, price range, etc. Obtain the specific details of your market: the size, number of annual sales, home price ranges, change in the market over previous years, future growth projections, etc. 

Who is Your Competition?
It's always wise to know your competitors. Are they national brands or well-established independents? Is it a single top producer that has been well established or is it a group of agents? Is their market share growing, constant, or declining? How aggressive or progressive are they? What unique elements do you see in their business plan and marketing? Just because they are the biggest, doesn't mean that they are the best, learn from your competitors mistakes, improve on them...soon you will be the big name in town.

Key Factors You Must Understand
Ask yourself questions such as: What are my costs per transaction?  Where does my business come from?  What activities must I do to generate this level of income?   How do I check my progress on a weekly, monthly or quarterly basis?  

Make an Action Plan
While putting down your goals in written form is essential, equally important is laying down the action steps that will get you there. Only now can you determine whether the goals and targets you have will be achieved.   If achieving your goals now seems impossible, go back to the beginning and revisit your research and earlier decisions. 

Make it Measurable
Lastly, you must hold yourself accountable. You wrote the plan and set the goals with the intent of achieving them. Now measure your activities and results every week to ensure that you stay on track. Make you goals obtainable not impossible.