What does your business plan look like? You might have a lot of goals for the next 90 days, but do you know what they are?
In this video, I will share my best tips on creating quarterly goals to help you grow your small business.
First, we want to revisit your past goals. We’ve talked about this in more detail in previous videos, so I’m just going to give the highlights here. First, review the goals you set over the last 90 days and answer if you achieved them or not. If not, what do you need to bring into this quarter?
Now that we’ve reviewed our previous goals, it’s time to start thinking about our next 90 days and how we can incorporate what worked in the last quarter into this one. Of course, it also needs to fit in your plan for the year as discussed also in a previous video. Also, you have to make your goals measurable.
We need to be able to measure these, to see if our efforts are paying off. This is where you might set a business goal that says, “We increased our exposure by 20%”. Notice that I stated my goal in the present tense as having already occurred. This is important. We always want to make sure that we state our goals this way so that our brain can start working backwards to see how we accomplished it. Goals are always something that you have, never something that you are going to do.
Often I hear people saying their goal is to exercise every day. This is not a goal. It’s an action that you’re going to take to achieve a goal. The goal is what exercising every day will give you. What do you want? Is it six-pack abs, a smaller waist size, more stamina, better health? When we determine our goals for the quarter, we want to make sure that they are smart goals. Smart is an acronym for specific, measurable, achievable, results-oriented, and in time.
Your goal should be a specific amount of weight loss. Or, as I gave earlier, a specific percentage increase, we’ve already talked about measurable, but what does achievable mean? Achieve-ability is about your skills, ability, and resources or what you need to achieve this goal.
So maybe the weight loss could be achievable for you if you already were walking every day. But now you’ll increase that to a 30 minute walk with weights on Tuesdays and Thursdays at the gym. Sometimes we can find in each of these goals something called bragging rights.
For example, “I want six-pack abs because I think it would feel amazing when someone starts drooling over me”. That’s awesome, as long as it doesn’t take away from anything else, like my health. Another way of looking at the bragging rights can be the underlying reason for wanting the goal. Most of the time, this is actually more of a driving force than the goal itself.
Now I have to add that achievable, does not mean you already know how to do it. It only means that you know you can do it. If you know how to do it already, it isn’t a goal. It’s simply something that you are going to do. A goal is something that you are committed to achieving, and you don’t know how to do it. So you have to expand who you are and what you know, so you are capable of achieving it.
Results-oriented is that you have something that can be seen measured and unmistakable from the outside. Finally, the T stands for time. You have to have a set amount of time that you’re going to achieve this goal in. We’ve set the time here to 90 days or one quarter. This is pretty standard in business, but it’s also a very appropriate time for planning purposes.
Anything more than 90 days is too long to stay focused and have a clear plan to achieve. Anything less than 90 days tends to be too short to make real progress on the goals. In conclusion, when you are setting goals, it is important to be clear about who the goal affects and what the goal actually is. The more precise and measurable your business plan, the easier it will be for others to help support that effort with their time and experience.
Remember to stay focused on both short-term and long range goals to make real progress over time while staying agile enough to change course when needed. In our next video on planning, we’ll talk about taking your goals and creating the roadmap to achieve them. I’m committed to inspiring business owners to take their business to the next level of success. And to do that, your business must have a stable foundation to grow on. Like you can’t build a skyscraper on the sand. You can’t build your business without a solid foundation.
This is why I created The Insider’s Guide To Success In Business. In this book, I’ve outlined what you need to do to have a solid foundation for your businesses growth. Inside this book, you will discover the specific steps that you can do to build that foundation, as well as how to know exactly where you are along that journey.
I’d love to know what value you got from today’s video or what questions you have. Leave me a comment. I look forward to reading what you have to say. Please take a moment and like this video, and subscribe to our YouTube channel. Be sure to click the bell, to get all notifications so that you don’t miss a single one of our videos.