The new year brings fresh beginnings and a renewed energy for improving upon last year's successes and getting closer to our ultimate dream goals. Setting goals we want to achieve by year-end is a standard business practice across every industry.
Many small business owners I've worked with in the past struggle to set goals that are both attainable yet stretch them to achieve their maximum potential. I've identified three different types of goals: Revenue, Impact, and Task goals. They are all important and you should include all three in your goal setting every year.
Revenue goals are the most common business goals. For finance-oriented people, they are the only measures of success! But many of us are not finance-driven and aren't motivated enough to sustain 12 months of grueling efforts to make a certain dollar amount. They are important to include in your year-end goals, however, for if you neglect to work toward a sustainable revenue, you won't have a business.
Impact goals are more mission oriented. These goals are set around your business's mission and reason for existence. A goal of serving 1,000 clients is an example of an impact goal. Without an impact goal, businesses have a hard time building customer loyalty and often have to resort to competing on price as their only differentiator. There's also a high burn-out rate for the business owner.
Task goals are the projects and tasks you need to complete to accomplish your revenue and impact goals. They are the mini-goals of your big goals. If you are an investment company and your impact goal is to help 100 families begin saving for college education, a task goal to help you achieve that would be to develop a college savings workshop.
It helps to identify one or two primary goals you want to achieve each year. They should integrate the revenue and impact elements. From there, break down how you will attain them by identifying three to five major task goals, then break down each task goal into action steps with deadlines. Create a calendar with this information and you are well on your way to achieving your goals!
I have created a customized VIP Day that allows me to work with you one-on-one to set your goals, map them in a calendar, and identify the action steps necessary to achieve your goals. If you want to perform to your highest potential, maximize your income, and impact the greatest number of people, contact me at 563-580-5657. I can't wait to hear from you!