For the entrepreneur or small business owner, focus and clarity will be key elements in the success of your business. You will need to establish an image of your future that animates and drives you toward success, followed by a clear path to get there.
While this may seem obvious to many, it’s remarkable how few business owners actually have a vision of their own hoped-for future. Yet, without a vivid mental image of what you want your business to be at some point in the future, your odds of finding success are greatly diminished. Having a strong vision of your hoped-for future will give your business a clear focus, and can prevent you heading in the wrong direction.
Speaking practically, we’re talking about setting goals that reflect your values, goals, and aspirations.
Goal Setting for Success
Unfortunately, goal setting is not a talent we are born with; rather, it’s a skill that must be learned and developed. If you think of goal setting in terms of building a pyramid, with your Big Goal at the top and smaller goals along the way, you’ll have a better idea of what I’m talking about. Just as the Big Goal you set for yourself each year must be related to the vision you hold of your business; the lesser goals must be designed to help you reach your Big Goal.
Create a Big Goal
The following is a simple, realistic approach to goal setting for your business. Since it’s impossible to speak directly to individual issues of every type of business in a blog post, we’ll focus on something all can agree is a worthy goal… Increasing Income!
- So, at the top of the pyramid: Big Goal = Boost Income 40% this year
- Next level of the pyramid: 4 Quarterly Goals = Boost Income 10% each quarter
- Next level of the pyramid: 12 Monthly Goals = Boost Income <3.5% each month
- Next level of the pyramid: 50 Weekly Goals = Boost Income <1% each week
Do you see how easy it is to increase your income by 40% annually? All you really need is to bump income by 1% per week! Your 1% per week quickly becomes more than 3.5% per month, which is more than 10% each quarter, which will easily surpass your 40% Income Boost for this year’s Big Goal!
You see, reaching your Big Goal is simply a function of setting, and reaching, incremental goals along the way. It’s a step-by-step progression that will inevitably take you where you want to be. As long as each small step you take along the way is focused on the Larger Goal, you can’t help but be successful!
Did you know that your mindset is the single most important factor affecting your ability to acquire wealth, health, and happiness? My book, The Wealth Attraction Formula: How to Attract Wealth & Manifest the Life of Your Dreams, explains how!