Goal Setting Examples
This practice is crucial to focus on daily, weekly, and monthly because we can get caught up in a laundry list of activities involving our business and many times all this busywork isn’t bringing in the revenue we want to our bank accounts.
Brian Tracy, the world-renowned personal development and sales trainer, has said, “The number one reason for failure is not setting goals.”
I’ve got a goal setting methodology I’m going to share with you here in this video that has worked well for me, and it’s at the core of our ability to grow our companies so quickly and have the success that we’ve have. There is a structure to it because I believe systems work best.
What I’ve found is that most business owners and entrepreneurs don’t have a formalized way of setting goals. In order to produce the outcomes you want in your business, the way to do that is to set goals.
I’ve found that people may not have clear goals. Now sometimes business owners and entrepreneurs do have goals but the STRATEGY they’re implementing to achieve their goals isn’t aligned with the outcome of the goal. From a practical standpoint looking at the strategy, it’s unlikely to produce their desired outcome.
Personal goal setting again is really important because the goal we have dictates what we do on a day-to-day, week-to-week, month-to-month basis.
First and foremost – begin with a FINANCIAL goal.
Now some may say, “You mean I can just make it up? Whatever I want to earn?” The answer is YES – decide what you want to be earning. (Check back here for a new blog post on the power of decision – you don’t need to know the how it’s going to happen before you decide)
Ask yourself, “Is this a starting line goal or an end goal?” If you’re brand new in business look at getting to your first 10k and if you’ve been earning 30k a month look at bumping that up to 40k or 45k a month.
You want to start with your financial goal. You don’t begin with writing a book. You don’t begin with a website. You don’t begin with a following on Facebook. Those are things we want to do only if they’re in alignment with the financial goal we set. Begin with the financial goal.
Second, use a series of QUESTIONS
to build a model that has the potential of producing the desired outcome that you’ve declared for your financial outcome.
Now think of good questions that will give you the potential to produce your desired outcome. The beautiful uncertainty of business and entrepreneurship is that we don’t know if what we come up with will produce our result. And the beautiful certainty of entrepreneurship is that if you keep going, tweak things, and get rid of your limiting beliefs you will hit your goal.
Third, drill down on the details to get clear on what would need to happen to produce the desired outcome. I’m going to show you – it’s a series of questions that will, layer after layer, where we’ll be able to take something that’s as far out as a three-year financial goal and we can back into what you should be doing tomorrow.
There is a certain level of peace that comes with your state of mind when you’ve got that certain level of clarity.
Fourth, establish different goal sets – 12-month, 6-month, 3-month, 2-month and 1-month.
This way you can reverse engineer what you need to do on a day-to-day and month-to-month basis then you can implement.
Here the pyramid methodology I use for goal setting – starting with a financial goal. To be easy here we’ll use 10k. You also want to designate think of this as your 30-day goal, you should know you can use this for the other increments like 12-months as well.
Ask yourself – based on the type of industry you are in what are the variety of ways that you could be getting to that income…to make 10k?
I was teaching this goal setting methodology to an insurance agent and when we posed that question his response was that he could sell 5 life insurance policies. Then I asked him is there any other way you could be making 10k? His response was ‘Well if I enrolled a business in a general liability policy that was $250k I’d earn 10k. I kept asking how else can you earn 10k this month. The ideas kept flowing – he said if he sold 5 business car insurance policies he would earn 10k and if 4 of his team members produced $25k or more he would earn 10k.
As you can see here my friend came up with four different ways of how he could make his goal. I helped him get CLEAR of the ways that he could make this happen. What happens when you come up with a variety of ways for you to be earning money is that often times you’ll come up with a mix of the different ways to earn money and you’ll earn MORE money than you thought you would.
At a powerful and creative level, this methodology is priming the pump for you to go out and achieve your goal.
For my own digital marketing agency, if 10k was my goal I could do on-page SEO for 6 businesses. I could build one new e-commerce site for a client. Maybe I would choose to do Amazon consulting for 4 brands. I could work with three to five established businesses for SEO consulting. Video marketing – possibly work with 3 or four clients.
Back to the pyramid here – the next step is to ask what would you need to do in order to achieve the things we just outlined. So going back to my friend I asked, “What would you need to do to sell those 5 life insurance policies or other items that you stated?”
In order to produce those desired outcomes he knew he needed 40 leads a week. So then I asked him, what would you need to do to generate those 40 leads? 4 insurance presentations were his answer. What else can you do? Sponsor 1 event. What else can you do? Reach out to 20 champions. What else could you do? Call 30 existing customers and ask for referrals.
All of these action steps were things that he thought he could do to produce this result for himself. He even believed he could outperform his stated goal!
All you need to do for yourself is keep asking – “What else could I do? What else could I do?” Some of your best answers will be 8 or 9 levels deep.
Over time you will see what is working and what isn’t and you can continue with what is successful and get rid of what doesn’t work.
Okay, so we’ve found a way for my friend to get his 40 leads and then I needed to ask him, “What do we need to do to make that happen?”
Here are all the tasks that he needed to do.
The stream of ideas came: he needed to create a signature talk, has to create a 1-pager that introduced himself to the companies when he requested to give a talk (who he is, what he stands for, his story, what the talk is about, why they would want him to speak), then build a champions list, make a champions contact email template or script.
When we stepped back from this my friend felt empowered and for the first time felt like he had a shot at really doing this. Before speaking to me he had a plan but it didn’t even make a lot of sense to him.
This new structure or methodology I introduced him to about goal setting gave him an ACTION plan. From that moment on he could start his day and know exactly what he needed to do to make that 10k. Before our conversation, he found himself busy doing things that were not in alignment with trying to earn 10k.
The beauty of this system is that you can use it for 30 days. Or 6 months. Or 12 months.
By leveraging this structure and questions, you can provide clarity where it may have been lacking. Clarity is important because once you know where you want to go you can start to visualize it and it will produce coincidences in your life to help you achieve your goal.
This is how you can create powerfully in your business and your life.
Thanks for joining me in learning about how you can be successful by setting goals with my goal setting methodology. Please subscribe to our channel here and come back for new content.