Bill Gates once said: “Most people overestimate what they can do in one year and underestimate what they can do in ten years”. And it’s true. How many people make big New Year’s resolutions, only to discard them before March? How many of those people have a ten year plan?
With this in mind, let’s talk about how to set goals for your business.
The most important thing
It is so important to set a vision. Where do you see it in years and years to come? Not just next year, but five, ten, one hundred years.
How big is it? How is it helping the community?
This is an important aspect to ponder, and will help you get clear on what it is you want to offer, not just now but in the future.
This will help you craft your mission statement, culture and values. It is critical you know what you stand for and why.
As Simon Sinek says: “People don’t buy what you do; they buy why you do it”.
So be clear on your “why”. It is so much more important than your “what”.
You know you have a great “why” when your heart races a bit… Really! Make it big!
Goal Achievement for the win
Once you are clear on your “why”, come up with your goals for let’s say, ten years. Then, in order to achieve your ten year goals, what do you need to do in the next five years?
Remember, as you are still looking out to the big future, you do not need to be too specific… yet. With your five year goals in mind, what do you need to do in the next year?
Now is the time to get a bit more specific.
- How will you know you have achieved these goals?
- How will you feel?
Then do a check
Does it still align with your five and ten year goals? Everything planned for the next year must be moving you towards your five and ten year goals. If it’s not, you don’t need to do them.
Now, in order for you to achieve your one year goals, what must you do in the next 90 days? It’s time to get even more specific. Ensure you are clear on the evidence of achieving this 90 day plan.
- How will you measure it?
- Does it align with your one, five and ten year plans?
Now, what do you need to do in the next month? What do you need to do in the next week?
What are some daily rituals you need in place in order to achieve your weekly goals?
You now have your goals! This means everything you act on has purpose and it is aligned with your business.
Review your goals regularly. We recommend daily. That way you are always in touch with why you are in business and exactly what you need to do to succeed.