5 Key Elements to Setting Goals

5 Key Elements to Setting Goals

 

5 Key Elements to Setting Goals

As any business owner knows, you must have a reason why you are in business. There must be objectives in mind to serve your market place by creating value to your customers.

Setting goals for your business helps you stay on track to meet those objectives for your customers and for your business to become profitable.

Listed below are the 5 key elements that helped me with setting goals for my business and why I believe they are important.

 

  1. Strategic goals that are specific. – Being specific is very important. You can’t just set a goal to make more money and expect it will happen. State your goal with a specific intent (15% increase in sales). Why it’s important to achieve that specific goal. What is involved in achieving that goal?

 

  1. Measurable – The goal you created must be able to be measured. If you can’t measure the specific goal how will you know if you are making progress? Or even when you meet your goal?

 

  1. Attainable – Make sure the goal you set is something that is realistic and achievable. I use 3 categories; short term goals, medium term goals, and long term goals. This helps keep the goals based in reality.

 

  1. Relevant – Are the goals you set moving you toward that strategic goal that you set earlier? Make sure that it is result based and aligns with your customers needs.

 

  1. Time Based – When setting goals in each of the 3 categories listed above make sure you have given a realistic time frame that the goals can be completed. I stretch mine out a little here because you never know what is going to come up to get in the way temporarily.

Once you have completed setting goals for your business you should be able to create a daily task list to make sure you stay on track.

I also review and adjust my goals every three months to make sure they still make sense and are heading in the direction I want my business to go.

A lot of people miss this setting goal activity for their business and end up floundering Don’t let that happen to you. You should have everything you need to be able to set goals for your business now!

 

Motivation To Share…

I have been thinking a lot about motivation lately.

Why?

As most of my followers know I had an accident almost 6 months ago.

I was helping a neighbor across the street after a raging snow and ice storm. I didn’t want her to fall and break something…

I slid on the ice and snow while holding her arm and broke MY ankle very badly.

No good deed goes unpunished??

The original ambulance slid into one of my neighbor’s yards while trying to get to me.

I had to be put on a sled and pulled for about ½ mile out of the neighborhood to one of the fireman’s personal pickup truck and then transferred to the 2nd ambulance. Away we went to the hospital emergency room.

We live about 4 miles from the hospital (as the crow flies) and it took me over 2 hours to get there from the time I broke my ankle to the emergency room.

Quite an adventure! You can’t make this stuff up 🙂

Needless to say, I had emergency surgery that night and they put in a 4 inch metal plate with 8 screws on one side, 2 more screws on the other side and 2 more in the front.

Since I was the only one running my business it came to a screeching halt… for 4 months.

(This is an excellent reason to have residual income from multiple streams.)

This really gave me time to think about how to stay motivated during my recovery, and then starting my business back again.

I found that if I read at least one motivational quote per day it really did wonders for my recovery and attitude.

I put together this small motivational movie to share some of my favorite quotes with you along with my own photography.

I hope you enjoy it and thanks for being patient for me to recover and be back online 🙂

Please feel free to share this post with your teams 🙂

Leadership – How Are You Spending Your Time?

Are you a leader for your business?

Leadership
Be the Leader!

It is very easy to account for our money but it is equally as difficult to account of our time.

It is the most important and significant issue for the leaders where and how they are spending their time. Because if the leaders stop their learning they will start to loose their leadership capability as well.

As we all know time is the greatest and most limited asset of our life.

Our success depends on our investment of our time. So if you are a leader then ask your self how much time you are spending a day for the development purpose. Is it good enough for you? Is it taking you to the point of your ultimate goal? As leader, it is very important for you to be able to manage your time with great efficiency. Leaders are expected to spend a fair amount of time in leaning new techniques and methods to stay current.

Don’t be a leader who’s always trying hard to get others to think highly of you.  If you want to prove yourself an effective leader, you should inspire others (your team members) to think highly of themselves. In this way, you can boost their morale and get more done than you expect. And you should focus most part of your time on enhancing your skills by always being on the frontline and acquire hands-on experience.

Few things you might notice all of a sudden relevant to your time management are as follows. Let’s have a look.

You might suddenly discover that your time management has not been up to the mark and your skill of leadership is decreasing instead of increasing. It is working like a leaked water pipe and you can’t find where the leakage is.

You might thrash about completing your work and you have not been able to deliver your assignment in due time or you are finding yourself in last minute rush in submitting your work because you are not managing your time properly.

You might find that you are doing overtime on a regular basis to complete the previous work because you let the job remain pending earlier.

All these things happen because leaders get overconfident sometimes and they take things for granted. As a result of that sometimes they overlook some of the essential things like time management.

Another negative outcome of mismanagement of time is that the leaders loose their leadership skill gradually. Because they do not get enough time to develop their learning any more.

If you are facing situations like these you should make the necessary changes before it is too late. You have to remember these kinds of leadership issues have  not been created in a day and you can not rectify it in a day. You have to proceed gradually. Maintain the consistent and regular progress process.

On the other hand, doing time analysis is a very profitable thing. You can have several positive outcomes from this practice like you might suddenly realize that you are spending more time in your development criteria and it is bringing more positive result to your skill of leading others.

Doing time analysis enables you to become conscious about finding the cost effective ways to execute plans and doing other things.  Try to keep track of your daily tasks for a week.  Then group them and take out any that are not really necessary to improving your business and leadership skills.

Through this practice you can add significant value to your business and to its members without putting too much pressure on yourself.

How are you spending your time as a leader? Do you think you are making the best use of time to grow yourself more and more?