The new year is almost here and while a lot of New Year’s resolutions will be focused on weight loss, dropping bad habits, and other common New Year’s resolutions. We want you to focus on your New Year’s business goal-setting for 2021.
Goal-setting requires a complete mindset-change if you want to not only set the goals but to actually achieve them. With all the turmoil experienced by business owners and everyone else in the world in 2020, it makes sense to plan and strategize in order to start the new year on the best footing.
When we talk about setting your business’ New Year’s goals, we don’t mean random things that will never see the light of day. We mean well-defined, achievable goals that will help you to grow your business and find the success you want. You know your business; you see the changes you need to make to achieve your goals, now we want you to make a plan and stick to it. Now is the time to set your plans in motion and build a prosperous, better business for 2021.
Here Are Some Important Factors to Consider When Making Your New Year’s Resolutions For Your Business.
Understand Your Reason
A lot of people make resolutions simply because they think they have to. You are a business owner; your mind works differently, or at least it should. You don’t make spur-of-the-moment decisions just because you can. You make decisions that will positively impact your business. Setting a goal that says you want to make another $10,000 in revenue per month is one thing. Saying that you want that additional income because you want to be able to increase staff salary, pay off some business debt, or to buy more equipment or supplies, will be the fire you need to stick to the goal to make that additional revenue a reality.
Connect With Your Goal
One reason it’s so easy to drop your goals is that you are not as passionate about them as you should be. They are not vital to you, so you don’t have the drive to see them through. Setting business goals might seem like an impersonal task, but if those goals are instrumental to the life you want to live and the growth you want to see in your business, you have to make it personal. Develop a deep connection with these goals and watch as they bloom.
An easy way to make your business goals and objectives more personal is to tie them in with your life. For example, instead of saying you want to make $10,000 more monthly, say you want to make more money so that you can afford to outsource more of your work and spend more of that free time with your family. Immediately, that simple, impersonal goal now has a personal, emotional attachment. You now have a greater reason to see that goal through.
January 1st of every year is often the first day of the rest of everyone’s lives. You feel super-charged and fuelled to break your own personal record with everything. February 1st comes along and your goals are still just inks on paper or sections of the notes on your smartphone. We challenge you not to do that for 2021.
The best resolutions are SMART and quantifiable. You should be able to clearly define them and set milestones and action plans that you can meet. Setting the specific amount of new clients you need or supplies you need to sell each week to reach your monthly target are examples of SMART goals; performance goals.
Make Viable Resolutions
Unrealistic and unachievable goals will stay on paper or only in your head; they will also demotivate you from ticking off goals you can achieve. Avoid this trap and set only goals that you know are attainable within your set timeframe. We’re not saying that you shouldn’t dream big. What we mean is that you should set goals that are realistic. If you have a big goal that might seem a bit overwhelming, but it is still possible to get it done, then break it down into small milestones. Anything is possible if you have a plan and the will to go after it. Just be realistic and stick to your steps.
Set Deadlines for Your New Year’s Resolutions
Procrastination is the killer of dreams. It will also be the killer of your business if you don’t set firm deadlines for every one of your goals. Being realistic is again a big part of this step. Don’t set a goal that will take 3 months to complete, but have a deadline for only 1 month. This will only set you up for disaster if there is no way for you to meet that deadline. You will be left feeling discouraged and unmotivated. This has the potential to derail your entire plan.
Review Your Goals Each Month
Keeping track of your accomplishments can be the motivator you need to keep going. If you follow the previous step, you will be able to easily track and review your goals each month. Knowing what is working and what you need to adjust will give you the leeway to make changes where needed and still get to your end goal. Defined goals, long-term and short-term goals are not hard to achieve as long as your goal-setting process is clearly thought out and outlined.
Update Your Team, Family or Friends
Regardless of the type of goals you have, having someone to hold you accountable will always work in your favor. Business goals, like personal goals, are great to tell your friends, family or mentor, especially if the goal has an emotional connection to the person. Telling your wife that you want to outsource some tasks in order to spend more time with the family will definitely make her help you to achieve it. While you don’t have to share a detailed plan with everyone, sharing the milestones or deadlines will allow them to keep track of the things you need to do to tick each item off your list.
Don’t Be Discouraged
New Year’s business goal-setting doesn’t have to be as complicated as you think. If you know what your business needs, write down each step it will take to accomplish them. If your plans take a little bit longer to achieve, don’t beat yourself up. 2020 has taught us that even with the best planning, you sometimes have to adjust and go with the flow. As long as you never stray and lose sight of your goals, your business will thank you for staying committed.
If you need help with your business goal-setting strategy, schedule a free consultation with evlos digital.