What Business Goals Should I Set?

Over the years I have networked with and coached business owners, many have struggled with setting goals – for various kinds of reasons;

  • “I like my work – why should I want anything more?”
  • “What if I miss my goal?”
  • “I don’t know how!”
  • “I have never done that before!”
  • “I’m making enough!  - Why would I want to work that hard?”
  • “I’m not trying to get rich!”
  • “That sounds too hard!”

 

There are probably more reasons (excuses) not to make goals – but these are the ones I remember as most frequent.

 

The first answer is – you don’t NEED to make goals – as long as you are willing to accept being a victim of whatever dynamics are going on in your industry.  If you want good examples, remember what happened to K-Mart, Penney’s, Sears, etc.  In short, they became victims of dynamics in their industries – even though they had been leaders in their industries at one time.  They adapted poorly to changes in their industry.  Walmart has done much better.

 

If you want to be a winner instead of a victim – then a goal is a way to structure your expectations around what you want to create.  And then use it as a compass to learn what you need to learn – and do what you need to do – to become the person that has what you want to have.  Because – if you were that person, you would already have been doing those things – and you would already have all that you will ever want to have. 

 

You do already have all you ever wanted to have – don’t you?

 

The key point here is that a goal is a destination for your journey – but it does not specify your path.  Like any journey, the path is not as important as important as the destination.  You can take a more direct route.  Or you can take a scenic route.  Your choice.  How long do you want to take to get there?  And what experiences do you want to have along the way?  It is up to you to take ownership of those kinds of decisions.  And hold yourself responsible to get the necessary things done. 

 

By the way – faster is usually more profitable – even if you have to invest more along the way. 

If the DIY method of success was so good – would you have customers?  - Just a thought.

 

Whatever you do, do not let your experiences about what you know or how to do stuff get in the way of setting your goal.  You don’t need to already know how to get the goal – part of the journey will be to learn better ways.  Some of those lessons will be easy – some may not.  Books (for knowledge) and coaches (for guidance & accountability) will be a big help along the way. 

 

The next consideration is that a goal is not about today.  Or tomorrow.  It is about next year.  And 5 years from now.  And when you are done and ready to move on to the next stage of your life. 

  • Are you in it to play with the toys?  And just make enough money for today?  (Kind of like an artist.)
  • Or are you in it to build wealth?  - How much?  (Set a number – and own that number.)
  • Or are you in it to build wealth, and have a lifestyle that provides lots of free-time to enjoy it with loved ones?  (Again – set a number – and own that number.)

 

These are all good choices – as long as you are happy with the end results when you get there!  If you get to retirement and do not have what will provide the comforts you want at that time – then you probably did not set the right goal at the right time.  Or you did not work at it in an effective enough manner.  A goal will point the direction.  Action needs to be taken toward the goal to enjoy the benefits.  (That is the DO part of this equation.) 

 

None of this says you have to work harder (more hours) to get better results.  You just have to choose better goals – and paths toward your goals.

 

Once you decide where you want to go in your journey – then we can get to specifics.  How much will make you comfortable?  Is that good enough?  Or should we multiply that by 10?  Or something else?

 

That sets the goal.  Next is the time to completion.  Next is to break that down by years.  Then the upcoming year by months / weeks / days. 

 

Congratulations!  You just set a goal!

Another time we can talk about how to build out you plan for your goal.  Or you can join one of our quarterly workshops to experience the process.

 

Want to know your key focus area to help grow your business? Try our 3 min Assessment Quiz at https://stevechiama.nextlevelassessment.com/?source=LI_Event - 6Steps