2018 is quickly approaching and many of us go into a state of reflection. Looking back on what has transpired and excited about the possibilities of the future, many begin to chart their path with visions of success and grandeur. However, most people end up losing their way and forget about their New Year’s resolutions by Martin Luther King Weekend (three weeks into the New Year). While this is not ideal, it is an indication that something has to change. No matter what your business or personal goals are, there are three steps you’ll want to consider before beginning 2018:
Take a look at your goals.
Goal setting is a major component of experiencing success in your business. Think of goals as the skeletal system of a vision or dream. The goals will help define the direction you’re going in and will bring clarity. As you begin a major endeavor or initiative within your company, line it up with your goals. If things don’t mesh, reconsider your goal.
Get specific.
A popular New Year’s resolution for many people is to lose weight. However, that is not specific enough and may lead to failure. Put a number next to the weight loss goal and a date. For example, by December 2018, you’d like to lose a total of 40 pounds. You need clarity and numbers to become more intentional about reaching the goal. The same concept applies to the business world.
It’s one thing to say that you want to earn $10 million by 2019. It’s another thing to actually sit down and get specific it. Writing down that type of goal isn’t enough. When you become specific with this type of goal, you have to determine whether you’d like to earn $10 million in profits or in revenue. You’ll want to get specific regarding what income streams you’re going to put in place to earn that type of money.
Figure out how.
The “how” factor is what most people skip or underestimate. The “how” factor is imperative because it is what will take you from the starting line to the finish line. Even after getting specific about your goals, it is important to define the action steps. What are you going to do on a daily basis to achieve that goal? Going back to the example of weight loss, take a look at how long it takes to lose a pound. For many people, slow weight loss is lasting weight loss. One pound a week is both doable and realistic. To achieve this goal, diet and exercise will have to be daily practices. Plan out the meals and the type of workouts you’ll do. When it relates to business and earning $10 million a year in profits, you’ll want to look at what that number breaks down to on a daily basis and how to earn that amount each day. If there are 20 work days in one month and twelve months in a year, you’ve got to figure out which daily income-producing activities will result in at least $45,000 every work day of the year. Looking at $45,000 in the face every day will help you get more creative and intentional about actively reaching that goal.
Are you looking for more suggestions on how to reach your New Year’s goals? Read my article Sticking to Your 2017 Business Resolutions.
