For any online business owner, setting goals is the first step toward consistent growth.
Think of it like going on a road trip… If you set out on a road trip with no destination in mind, how will you know when you’ve arrived?!
Sure, the journey might be fun, but when you’re growing a business, you need to have a plan in place for how you’ll reach each target you set.
Effective goal setting as a business owner lets you measure progress, overcome procrastination and visualise your dreams, therefore helping you to reach them faster.
Put simply, if you don’t know what you want to accomplish, you can’t create a plan to get there.
When you’re setting your goals, there are two methods that work:
The S.M.A.R.T. method & the Goal Stacking method!
Let's look into both methods here and you can decide for yourself which method will work best for you:
There is one school of thought that says you should toss out ‘attainable’ and ‘realistic’ all together, and instead set yourself big hairy, scary goals and stretch yourself beyond what you think is possible.
This is where the Goal Stacking method comes in to play.
The way I work with my clients is with what I like to call ‘Goal Stacking’. For each objective you want to achieve, you actually need to set 3 goals.
Let's say the rough goal is to earn more money this month:
Goal #1: You set the ‘Big, Hairy Scary’ goal: “I will earn £100,000 this month”
Goal #2: Set your ‘I Can Make This Work’ goal, which is the basic amount you want to achieve, e.g. earning £20,000 this month
Goal #3: Set your middle goal eg: earning £65,000 this month
Goal #3 should light you up, motivate you and get you out of bed in the morning, so set it as high as you can without it making yourself faint! A little unease is good though, so if it doesn’t scare you at least a bit, it’s not high enough!
Do what feels good for you!
Only you will know what goals you are comfortable with, but do keep in mind that if they are too easy to reach, you may find yourself unmotivated - or even bored - in your business!
The next step to creating your goals is to devise an Action Plan so you know the exact steps you need to take to reach your goal! You can read more about that here, or get stuck into the Cash Calendar, where you’ll review your last 90 days of business, set your goals for the next 90 days and plan your sales & marketing!
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