Why Every Business Owner Should Make Setting Goals Their First Priority, And How To Set Goals That Will Power You To Success

Nigel Letty

I don’t know many people who aren’t passionate about at least one sport. For me I love cycling races like the “Tour de France” where the chess game evolves over 21 days of fierce competition and there are so many races within the race; the sprinter’s green jersey, the “King of the Mountain” polka dot jersey and the overall leader’s General Classification Yellow jersey. For you it might be a good footy, soccer, or cricket game, golf or motor racing but no matter what sport it is, what country it’s played in and what level it is played at they all have one thing in common: There’s a scoreboard with a win, draw or lose result.

Now imagine your favourite sport but with no goal posts or finish line, and no scoreboard either! How would you know whether your team won or lost? Can you imagine the fights on the train going home with each team declaring that they won! But really, would you care? I get the feeling that if we took away the competition result we wouldn’t feel anywhere near as passionate about the game. Think of when you played sport, why did you feel euphoric when you’ve gone against the odds and beaten a stronger adversary; on the other hand, why do we feel so devastated when we lose a game that we think we should have won?

I believe it is the same in business, we have expectations of our performance, but in so many businesses the goal posts are not clearly defined, the scoreboard isn’t looked at or is non- existent and the team are not clear on how their performance contributes or is measured. How can they feel like they’ve contributed if they have no idea of what the company is striving for? Even worse, how do they know when they’ve performed well if there are no clearly defined goals to measure against? Many business owners do not know what their budget for revenue is for the month or year to come, do not know a gross profit percentage or their breakeven for the month.

So where do you start when it comes to setting goals? Our process is to start with the destination in mind. What will the business look like in 5 years? What will it need to look like in 3 years to assure you that you’re on track to achieve your 5-year goal? What will it need to look like at the end of the 1st year to be on track for your 3-year goal? After doing this, we break down the first year into 90-day plans which means that the short-term goals are close enough to touch; they’re real and in your face, they’re achievable, believable, motivational and inspirational…. Now let me at them!

When you’ve got your team (and you) excited about achieving those goals, watch the energy and momentum grow and the results improve! You’re now on the way to having a better performing business……

Want to set goals that will get on the right path to achieving what you want in business and life? Book a chat with Nigel Letty today.

By |2019-02-08T13:05:27+00:00February 8th, 2019|Categories: A Business Coach's Perspective, Building Businesses, Business Building|0 Comments
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