One of the questions I’m asked most often is, “What does it take to be successful?” In true teacher fashion, I love to turn the question around and ask the individual what they think it takes. I want you to stop right now and think about that question. Now, write down your responses.
I’m guessing you said something that included hard work, hustle, making good decisions, a bit of luck, etc. These are the typical answer I hear when I do this exercise. Sure, all of those responses are true, but there is one significant thing missing from the list—goal setting.
When it comes to absolutes, it’s been said that the only things you can count on in life are death and taxes. In my opinion, another absolute is that successful people set goals.
In my previous blog, I discussed success and the process of defining it. Once you’ve taken the time to determine what success means for you, you want to do everything in your power to achieve it, right? Well then, the next step is to set goals.
Why is goal setting so important?
When you set goals, you are putting in place long-term vision and objectives and short-term motivation. Setting goals can help you find focus in your business and make it easier to organize your time, effort, and resources for maximum productivity. https://www.mindtools.com/page6.html#:~:text=Setting%20goals%20gives%20you%20long,the%20most%20of%20your%20life
How to accomplish business goals?
Once you come up with goals, you’re going to want to work towards those goals. There are some easy tips and tricks that will help you keep your goals top-of-mind, so you actually accomplish them.
In addition to setting your goals, you should be writing your goals down. Studies have shown that you are nearly 45% more likely to achieve a goal if you write it down. When you write down goals, it creates accountability. Yet only about 25% of us take the time to write our goals down. This is a huge mistake and one I would encourage you not to make.
Another way to make it easier for you to hit your goals is by creating a visual cue. The more we see something, the more it sticks in our brain. After you’ve written out your goals, put them in a place you’ll see daily.
Your goals don’t need to be lengthy or dramatic. In fact, if your goals are simple and concise, it will be easier for your brain to program them to memory.
What is a SMART goal?
Have you ever heard about SMART goals? Specific, Measurable, Achievable, Realistic, and Timely. In your business, you’ll want to make sure your goals are SMART goals.
Goals should be actionable and attainable. It does me no good to write down an unattainable goal. For instance, I have zero chance of ever playing in the NFL, so it’s completely unrealistic to make it a goal. But increasing my 2021 revenue by 10% over 2020 is a SMART goal and is something that I have some control over.
You’ll also want to focus on realistic goals. Focus on goals that lead you closer to your target. Remember that Success = Desired Outcome. If you haven’t defined success yet, you’ll want to start there first to understand what your desired outcome truly is.
Finally, you’ll want to focus on measurable goals. I could have easily said I want to increase my 2021 revenue, but at the end of the year, how will I measure that? Will it be successful if I make $1 more than last year? This is why measurable goals are essential and why a goal of increasing 2021 revenue by 10% over 2020 is a better goal.
It can take practice to set the right goals for your company. I would love to help you through the process or help you talk it out. Reach out to me at kent@kentgustafson.com and let me help you create specific, measurable, achievable, realistic, and timely goals.
Schedule a one-on-one call with Kent to create a financial plan with lasting impact.
