One of the most common mistakes business owners make this time of year is thinking goal setting will work in their business.
Nearly everyone sets New Year Resolutions, makes commitments, and sets goals this time of year. And it’s painful to watch people set the same goals year after year… hoping that THIS year will be different than the last… that THIS year will FINALLY be the year of breakthrough.
Successful business owners — those who have the freedom of time and freedom of cash in their business — are the ones who ACHIEVE their goals; not just set their goals.
So how do you achieve your goals this year?
Well, SETTING goals is the beginning, but if you didn’t reach your goals last year, you probably won’t THIS year either. That’s because there are underlying issues in your business you need to address first.
Here are 3 areas, in my opinion, that have to be locked down in order to give your business goals ACHIEVEMENT POWER in 2017.
First, Strategic Planning (And NO! I don’t mean a SWOT)
Goals that carry achievement power are always tied into a larger purpose.
A short and long term strategic plan goes a lot further than your one-size-fits-all SWOT analysis, and puts your business in the context of your personal dreams, goals, and purpose. Goals attached to a strategic plan carry more motivation, commitment, and stick-to-it-ivity. There are 5 parts to a good strategic plan, and if you miss one your work in achieving your goals will suffer. However, even if all the pieces are present AND set up in the right order, your 2017 goals may STILL fall flat like last year.
That’s because there are two other areas that you’ll need to get locked down for you to reach the goals you set for your business…
Second, a Team Ownership Culture
Have you ever felt, as the owner, you were carrying your entire team up the hill of business growth on your own? That’s because your team lacks a team ownership culture, and without it reaching your goals… climbing up the hill of growth is nearly impossible.
It doesn’t take a rocket scientist to know that a clear goal and plan without execution is worthless. That’s why getting your team to take ownership of your business goals and use your strategic plan is the second step in giving your goals stronger achievement power.
The truth is, it’s WAY easier to create a team ownership culture than most people think… as long as it’s done correctly.
Third, Track “Keystone Metrics”
If your team knows what they should be working on, and are motivated to work on it, but they’ve not been given a way to measure their progress, then you can kiss your goal’s achievement power good-bye.
This is where KPI’s (Key Performance Indicators) come into the picture.
BUT AGAIN… Not ALL KPI’s are created equal. Even the world’s most engaged and motivated team is operating at a handicap without focusing on the RIGHT metrics.
Average performing business owners and their teams focus on “FLAT” metrics that are completely worthless to creating exciting performance growth (AND ADVANCED FREEDOM). It’s actually kind of scary how many businesses are tracking worthless FLAT metrics.
But on the other side of the game of business, there are the successful industry leaders who are quietly taking your customers by using a handful of metrics that work magic on a companies bottom line profit and provide MULTIPLIED RETURNS on the invested capital and effort… These are what I call “KEYSTONE METRICS”.
So here’s the thing, there are a MILLION ways to do all these things, but the key is knowing WHAT to do first and what to do after that and etcetera etcetera.
This is sequential, and just like a phone number needs the right digits in the right order, to make your goals work for your business in 2017 you’ll need to put the right foot down in the right order. When you get it right, instead of forcing the feeling of determination to make this year THE year, you’ll be excited to set your business goals because the goal is as good as reality (just a few months away).
For A Better 2017,
Founder & Head Business Coach at the Growthpoint Coaching Company
P.S. Real quick, let me know what goal you want to see happen for your business this year… Also, what will that do for other areas of your life?
P.P.S. I help business owners install the missing systems, tools, and strategies that will unlock higher profit, personal freedom, and fulfillment in their business. If you want to discover exactly how to increase your profit by at least 68% this year and build a high-performance team you can trust, then Book a “Freedom & Profitability” Strategy Session – It’s free!