Can you believe another year has passed? Time sure flies when you’re a busy entrepreneur!
I gear down my business between Christmas and the New Year in order to have time to reflect on the past 12 months while considering the future. I contemplate:
“Was I successful in meeting my personal and business objectives?”
“How will the past impact the future goals I set?”
When goal setting, there are five items every business owner should have in place to lay the foundation for successful goal setting.
- Personal Beliefs: Although we’re talking business, we can’t underestimate the importance of ensuring our business and personal beliefs are in alignment. If your business reflects your personal convictions, the resulting alignment brings passion into your business, and passion breeds action.
- Personal Goals: Consider your personal goals. If you develop your business goals without any contemplation of their effect on your personal goals, you will constantly be at odds with yourself and may not even realize it! Like a well-matched tug-of-war, you’ll find yourself working hard but never really getting anywhere.
- Your Mission Is: Be clear on your business’ purpose. Our companies are tools that result in benefits to others. What are you trying to accomplish through your business? A business mission statement will answer this question for you. If you haven’t created one, do so and keep it nearby during goal development. Check every goal set is in alignment with your company’s mission statement.
- The Forest AND the Trees: Effective goal setting requires us to see the the big picture while also being able to break that picture down into smaller scenes. What do you want to accomplish over the next year? Then break that down into smaller parts, such as weekly or monthly accomplishments that must be met in order to achieve your annual target.
- Stay Grounded: It’s important to set lofty goals and challenge status quo, but setting unrealistic goals won’t help motivation when objectives are repeatedly missed. Ensure goals are achievable throughout the year so you and employees stay motivated and excited. Be prepared to adjust goals up or down, if necessary.
Goals are the fuel in the furnace of achievement.
Brian Tracy, Eat That Frog