When you start your business we always work out what the end product is however most people will overestimate what they can do in 1 year and underestimate what they can achieve in 5 years that’s why we promote the magic of thinking big not just in business but in life.
Start by making a list of the different areas of your life – business, relationships, personal and start to think about what you want to achieve.
Let your imagination run wild
Define what you really want.
Start by getting out your trusty notebook and split the page into 4 different sections, these will be split into Work, life, business, and money. The aim is to make some really clear goals about what you want to achieve in each section because these will create the goals then we can start to put together the targets needed to achieve these goals.
Once you have an idea of what you want to achieve you need to set a SMART goal. SMART stands for Specific, Measurable, Achievable, Realistic, Time orientated.
By making these a smart goal you know exactly what you are aiming for, for example, if you just say you want to buy a new car you don’t really have anything to aim for so it’s important to make it SMART, what car? what model? what color? etc
Once you know exactly what you are aiming for you have to set an end date for the same reasons as making sure it’s specific.
Without a timeframe, you are unable to make plans to achieve it because you have no idea of what you need to achieve this week to move towards it.
Once you have the time frame and a specific target you can start to work out how to achieve it. You can do this by working backward, we always aim to do 90-day planning however if your aim is to scale your business to £1 Million you may need to aim further ahead.
Start to break down the goal. Start by looking 1 year ahead and work out what you need to achieve each quarter of the year, then take the first quarter of the year and work out what you need to do each month, then each week then if you need to you can break it down to each day and hour.
The more detailed your target is the easier it’ll be to achieve it.
It’s now important to communicate the goals to all involved, sometimes this can be to loved ones, sometimes the teams involved.
By communicating the goals with everyone it gives them an opportunity to get on board and everyone must be on board. Don’t try and achieve your goals on your own, split the tasks needed to achieve the goals if you want to grow the business then you’ll need to focus on sales marketing, operations, etc therefore it’s important to pass these tasks to the experts on your team.
There is a technique we teach called the right angle, we use this when we talk about goal setting, this can be used for all goal setting. When I set up my first business I had the aim to make it a £250,000 business in the first 12 months however with all the planning in the world I was never going to achieve this so I implemented the right angle method.
This is simply to focus on the things you can control. For me to achieve my £250,000 goal I wouldn’t be able to go out and do this I didn’t have the knowledge so I had to become someone that would be able to so I spent my first quarter learning, my goals were to purely learn what I needed to do to become someone who could achieve my goal. From there I spent the next 3 quarters growing the business to the £250,000 target.
Don’t be afraid of failure
A lot of people don’t set the targets because they are afraid of not achieving them. You have to learn how to embrace the fail when it does happen and it will happen. If you don’t occasionally miss your targets or aren’t afraid of your targets you probably aren’t setting them high enough.
One of the ways to get over the fears is to call them out, go get a pen and paper and start to make s list of all the problems that could happen. What this does is list all the worst-case scenarios then you can make plans in case they happen.
For example if one of your fears is you’ll run out of money you can set a cash tracker so you can see your daily and weekly cash spend. By setting out the fears you can resolve issues you might have later on.
Whatever happens after the time period whether this is 90 days, 12 months, etc you need to review the plan, what went well what went bad, it’s important that you review everything so when you come to set your next target and plans you won’t make the same mistakes twice.
The more you do you’re planning the better and easier it becomes.
As you work through the plan sometimes it doesn’t go right and that’s ok, just because you set the plan doesn’t mean you have to stick to it. If it’s starting to go wrong don’t worry, remember everything is temporary and so you’ll be able to get back on track however sometimes it is easier to pivot.
For example, if you decided to target nothing but letting agents this quarter but you are suddenly getting a lot of work for builders it might be worth adjusting the plan and going for building cleans instead.
There are pros and cons for sticking and pivoting that you’ll have to make the decision based on many personal factors but remember there is nothing wrong with a pivot.
Be realistic with what you can achieve in the time frame you have set. can you really add £250,000 to your turnover in the next 3 months if you are a 1 man band with no experience in sales or marketing? Probably not but can you read 5 books on sales and 5 books on marketing and create a start to implement a plan in the next 90 days almost definitely.
It’s also important to be aware of what you can control when setting targets, can you control if this 1 business becomes a client in the next 90 days? Maybe if you have already started to build a relationship, know they are renewing their contract, and know how you can close them but if not that shouldn’t become your must-achieve goal.
However, if you set must achieve the goal to find out these details for a particular business then 100% make sure you celebrate the win. Make sure that during the whole process you celebrate all the opportunities, you may have set the 3 or 4 big goals for the 90 days however there are going to be many small victories as you go, make sure these all get celebrated.
Be very clear on the time frames for everything, it’s going to be hard to achieve a goal if you just say I want to achieve X by the end of the 90 day period, you need to set smaller goals along with a timeframe bot just what you will achieve by when but also how long are you going to be on each task? A week to read a book, 2 days to put together a marketing plan. there’s no such thing as too much detail in your planning.