Do you struggle to set and achieve smarter business goals? Perhaps you’ve been going about it the wrong way or at least you could do with a process that would keep you focused and on task to have greater success.
Then read on because I’ve been spending time on my own business planning and have some tips and strategies that could help you have your best year ever.
While I tackle this every year at the beginning of the New Year I’ve picked up some additional tips from tapping into what other successful business owners are doing from my peers in my networking groups so I’m going to share some of those with you too.
First, let me tell you a story about a guy who set himself a goal without realising he was setting himself up for failure. You see, the man was hugely overweight, obese even and he wanted to shed the weight so he set a goal to run a mile every day. But every day he didn’t even get past the front door – so every day he gave up and felt defeated and thought he’d try again tomorrow. Yet many tomorrows came and went and each and every day he could not leave the house. Realising that running a mile was a stretch too far he decided to set a goal to walk to the letterbox at his front fence and back everyday day. And every day he did just that then went on to incrementally set more and more difficult goals until he did in fact achieve his huge weight loss.
There are several lessons here
- Early wins breed success so make sure your goals are realistic and achievable – don’t set yourself up for failure.
- Understand that winning or success releases the happy hormones Serotonin and Endorphins. Get hooked on these and you’ll hit it out of the park.
- It’s impossible to pinpoint the exact time of a breakthrough because results come from the accumulation of actions and so it’s never one big thing but a series of continual forward movements that pay off in the end.
- Never give up – if it’s not working, find another way but keep your eye on the prize.
Now I’m going to break this down to 2 sections. The first being setting annual goals and the second planning and implementation.
5 steps to setting your annual goals.
1. Reverse engineer success
Think about why you’re actually in business and your definition of success and what you want to achieve. Start with the end in mind and work backwards to identify and articulate your goals.
2. Focus on only 1-2 major goals with 2-3 lesser goals
Each goal must take you towards achieving your overall success. Write each one down and identify why it’s important to you, how you will measure it and how you will know when you’ve achieved it. Commit to it!
3. Create quarterly/monthly goals
Chunk it down. Detail the steps or actions you need to take to reach your goals then feed them into your quarterly/monthly goals to keep you moving forward.
4. Manage actions, not results
So rather that set yourself a list of goals to achieve, set yourself a list of actions to take to achieve the goals which will create the result. In effect your actions become the goals
5. Have SMARTER goals
Now you’ve probably heard about SMART goals right? But I believe that’s incomplete. What we’re after is SMARTER goals so make sure you go the extra couple of steps if you want to set and achieve business smarter business goals.
• Specific – articulate and write them down
• Measurable – how will you know if you are achieving it
• Achievable – is it realistic and attainable
• Relevant – is it meaningful to you and motivating
• Time Bound – set a time limit. Set a date for exactly when you will reach your goal
• Evaluate – review regularly and consistently
• Readjust – based on your evaluation review readjust your goals to make great decisions
Tackle this the right way and you should feel excited, energised and confident that you have set yourself up for success because you took the time and effort to set smarter business goals.
Next we’ll look at exactly how to use your smarter business goals to create your monthly/weekly/daily action goals to keep you on track and smashing goal after goal as you work towards your best year ever!
(to be continued….)