Setting goals is one of the most essential tasks for business owners who seek success. But to-do lists, vision boards and road maps are only effective if they can be tracked and measured. Your goal can be to bring in 10 new clients, make $50,000, or write one book – at the end of each quarter you have achieved that goal – or you have not.
By attaching a number to each of your goals, you are able to make a clear, clinical assessment of your success. One book is one book, or it is not.
In order to track and measure your goals you must:
Create your goals. “I want more money” is not a goal. How much money do you want? This question attaches a number to the goal. “I want to make $50,000 this quarter” is a goal. When you create your goals be very clear about what numbers can be attached to them.
“I will make $50,000 this quarter”
That is $16,666 each month, and $4,166 a week – this gives you bite-sized goals to help you achieve your bigger goal. It helps prevent overwhelm and goal paralysis.
This is the most important step. You must continue to check what is happening in your business week to week against your goal. Keep a running Excel file of your numbers. You are either on track to meet your goal, or you are not.
Despite your best intentions, things do not always go to plan – but if you have not defined, broken-down, and measured your goal, there is no way to understand what impact an event or an action has on the success of your goal. If you are tracking your numbers weekly, you can adjust your activity with the focus on achieving the goal.
For true business success, reaching a goal on time is not a one-off event. It is a step. You must define a new goal as each one is completed so that your momentum continues to carry you and your business forward.
Creating goals that have a number attached to them will prevent your business ambling along with only a vague sense of direction. Defined goals create focus, determination and accountability and lead to true success.