I’m heading into my fourth year of being a business owner. I can’t freaking believe it either.
I’ve always been a results-oriented person, and having my own business has elevated this to a whole new level. I want to share with you HOW I go about determining goals I want to reach…
…because if you don’t have goals - both financial and marketing - you don’t have a business, you have a hobby.
Step #1: Review what worked and didn’t this past year.
- Take a look at your balance sheet and P&L statement.
- What products or services made you the most money?
- Do you like working with your clients? Do they pay on time or nickel and dime you?
- Check your social media analytics and email open rates - why did some perform better than others? Did some posts have better engagement…why? Were you subject lines better in some emails over others?
Step #2: Imagine your future.
- What would you love to see happen in your business next year? Is it more clients? More visibility? Speaking on big stages? Writing a book?
- How much money do you want to make? How many hours do you want to work?
- What would you do if you knew you couldn’t fail?
- What would success look like?
Step #3: Be SMART about your goals…and only set 1-3 goals (otherwise you’ll get overwhelmed and won’t see things through)
- Specific: Establish clear goals that are specific. Don’t get too pie in the sky with these goals, or you risk overwhelming yourself and not doing anything.
- Measurable: Determine how you can measure the success or completion of your goal. No need to attach a number to all goals, but you need to have some measure in mind so you know you have reached the goal.
- Attainable: A goal has got to be something that you can actually reach. Again, no pie in the sky stuff…look at your financials, client data to help you determine if what you are looking to achieve is actually achievable.
- Relevant: Is your goal relevant to the bigger picture of what you’re looking to achieve in your business? Will that goal contribute to the success of your business?
- Time-Bound: Be realistic about setting a time on your goal.
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