It is amazing how many different answers that I get when I ask this question. In most every situation the answer is Yes, I am. When I ask to see those goals then there is usually more to the story. They are not written or they are not updated in most cases. As the speed of our world has increased through technological improvements like smart phones and tablets, I believe we have lost touch with some of the simple, basic things that allow us to prosper. You do not own a Busyness! You should own a Business. Our definition of a Business is a successful, profitable enterprise that works without YOU!
So what does this have to do with goals? Quite simply, without written goals we are left to perform based on what the world hands us daily instead of having a tool that keeps us focused on what is really important in our business. Good goals allow us to keep ourselves and our teams accountable.
Some years ago, a study of Harvard Business School graduates showed that upon graduation only 3% had written goals, 13% had thought of some goals and the balance were just thrilled to be out of school. Ten years later the 13% with non-written goals were making TWICE as much money as the 84% without any goals at all, while the 3% with written goals were making TEN TIMES what the other 97% were making. So if it is so compelling to have written goals, why aren’t we all doing it?
We do not have to re-invent the wheel when it comes to our business. What we have to do is to change our mindset about our goals. Here are some tips on how to get started.
- Decide what your business will look like in 5 or 10 years. How much revenue will it be producing, how many jobs will it have created and how many locations will it have? How many hours will you be working?
- Determine where you need to be with your business in 1 year to achieve the long term goals you previously established. We know you cannot do it alone so who do you need in your business. What revenue levels will you need to hit quarterly to achieve your annual goal.
- Complete quarterly goals (that can be measured weekly). Plan some time each week to work “On” your business instead of just “in” it. I host a GrowthCLUB planning day for my clients each quarter in which we all take the day to plan our goals for the following quarter. We do this because it has been proven over and over again that having a written plan is where true success starts!
Right now would be a great time to develop a strong plan for your business with clear goals and action items that you can share with others for added accountability. Make sure to include clear milestones and chip away at each goal a little bit every day. If you do this consistently, you may soon be making TEN TIMES more than your competition.
Remember, failing to plan is planning to fail!