Goal Setting - The 3 Goals You Need To Get Crystal Clear On

Let's deep dive into goal setting...

In business there are 3 motivators that drive every decision we make:

~ Lifestyle

~ Income

~ Reputation

Ok, ok, I hear you... 'but Gill, I'm more purpose driven. The decisions I make are often about doing the right thing...'

Here's the thing, whether in business, or life in general, the decisions we make and the actions we take are regulated by our VALUES. We don't set goals in terms of our values because our values are our North Star.  They are constant, unwavering. Your values will naturally feed your your decisions, your goal setting and your actions.

It's setting goals in terms of your desired lifestyle, income & reputation that will get you the business and life you're dreaming of.

I call these your Big 3 and, once in place, they become your non-negotiables.

Every progress goal and monthly / weekly / daily action you set beneath them should take you a step closer to those big goals. The goals that feel 'unrealistic' right now (NOTE: that is the one and only time you'll hear me utter the U word). The goals that have you whispering to yourself 'but what if I actually COULD make that happen' 

So, let's break it down:

1. Lifestyle

Your big lifestyle goal is the one that drives where you are, who you're with and what you're doing.

Here's an example of a big lifestyle goal: 

By 31/12/2021 I will have moved to a detached 4 bed house in the country with an indoor pool. I will be working 4 days a week and finishing by 5pm each day. I'll have Fridays off for long weekend adventures with my family.

Beneath your top level goal you'll put in place quarterly progress goals. So your Q1 progress goals might be:

• Decorate the house with a view to getting it valued for sale
• Finish work by 6.30pm Mon-Thurs and by 1pm on Fridays
• Divert my phone to my VA on Fridays 

Once your goals are set, you'll then put in place the action plan to achieve them - the monthly, weekly and daily tasks that will ensure you hit every progress goal en route to the biggie.

2. Income

Simple... how much money do you want in your personal bank account at year end? That number + your operating costs  =  the amount you need to bring in from sales.

So, if you want £100,000 in your account at year end, and your expenses (incl tax) will be £50,000 then you need to make £150,000 in sales.

Once you know that number you can look at your revenue generating activity planned for the next 12 months and you can allocate monthly income progress goals (email me if you'd like a copy of the simple spreadsheet I use for this in my business: [email protected])

How much revenue is already projected from existing clients? How many new clients do you need to sign up? Do you need to introduce a higher ticket offer?

If your business is established you can look back at previous years and spot where your income peaked and troughed and forecast this year accordingly. If your business is in its infancy you might want to take a guess at projecting or simply divide your income goal by 12 this year.

Sometimes it's obvious where your peaks will be - if you live launch your program twice a year, for example, plot that on your spreadsheet.

Getting crystal clear on your income goal for each month is crucial. If you are off course you can put in place plans to address the deficit - do you need to run a half day workshop to bring in a lump to get you back on track? Do you need to undertake a pricing review?  There are lots of ways to make mid year adjustments to hit your progress goals once you know what they are!

3. Reputation

The third goal setting pillar is your reputation. I want you to set a stretching, exciting goal for this.  Your reputation is how you're perceived by others. It's your legacy. 

Here are some examples of reputational goals:

• To be interviewed by Oprah as a thought leader for purpose driven female entrepreneurs 
• To win a Stevie Women in Business award
• To be asked to contribute to [the top publication in your niche]

Once you've set that top goal, again you're going to set the progress goals that will get you there. So, if your goal is to win a particular award, your Q1 progress goal might be to connect on LinkedIn with the organiser. Actions might be to research the organisers, the award criteria, the process for getting nominated, past winners etc.

So...

I would now LOVE you to go to your bedroom. Close the door and lie on your bed. Stare up at the ceiling and REALLY think about what you want your business and life to look like.

If it's possible for anyone... it's possible for YOU.

Goal setting is the first step to making it reality. Stop playing small. Step into your power and WRITE DOWN WHAT YOU REALLY WANT.

Until next week

G 

Suggested Listening

#011 - Move Aside Consistency... There's a New C in Town

#010 - Relentless Courage with Jude Charles

#016 - Stories We Tell Ourselves About Our Prices