• The Business Owner

Goal Setting

In driving terms if you don’t have a destination, you will drive around aimlessly. Goal setting is written about for sport, for business and in life coaching. Goal setting is the crucial area for any clay shooter. It is your very own plan of how far you really want to go with your business.

Let’s look at the two most important aspects of goal setting; the first type of goal is an outcome goal - this is a goal that only has one of two options to it – win or lose/achieved or not. The second is a performance goal. Always regarded as the ‘harder to define’ goal, it is based on elements of the performance. Both types of goal are used - those at the very top level will be very focused on outcome goals, with a mix of performance goals. Those moving up through the ranks will be using performance goals and, less frequently, outcome goals.

In business there are too many people using outcome goals. If you solely use outcome goals, then negative times will occur as any unreached goals or bad days will lead to more mental downers – only the very strong minded will ever succeed using this goal type. The performance goal is based on all elements of your business; areas to improve on, areas of focus and, ultimately, if all performance goals are reached then the outcome will be achieved.

So, let’s look at ‘Goal Setting’ rules.

Setting goals is based on a SMART principle:

S – Specific

M – Measurable

A – Achievable

R – Realistic

T – Timed

So, what does this mean for you?

The best concept is the Pyramid of Success model.

Outcome/Dream Goal: 5-10 Years

Long Term Goals/Outcome Goal: 3-5 Years

Mid Term Goals/Performance & Outcome Goals: 1-3 Years

Short Term Goals/Performance Goals: 6-12 Months

Micro Goals/Performance Goals: 3 Months

Macro Goals/Performance Goals: 4 Weeks

The task for you now is to write down some specific goals.

What is your Dream Goal for your business?

What is an Achievable Outcome Goal for you in 3-5 years’ time?

What do you need to work on for this year?

What are you going to work on in the next 3 months?

What will you do this month?

The goals you need to focus on for your business could look like this:

Consistent gains are based on performance goals.

Dream Goal

Long Term

Mid Term

Short Term

Micro & Macro Goals

The Short-Term Goals coupled with your Micro & Macro Goals are the building blocks for you to improve in you and your business. Let us look at the detail needed for you to use these effectively.

If you want to be a multi-national, say GymShark, then what do you need to concentrate on what is needed to operate at the very highest level? The areas would be sales, design, customer service, logistics, pricing, marketing……

If you looked at these in even more detail you would start to break down each part – mystery shopping as a part of customer service.

To be the best you need to have dream goals, mostly unrealistic, then your long-term goals and then mid term goals. The most effective goals are your short term, micro and macro goals – these goals create the path to ongoing growth and success along with defining the evolution of the business.

Make your goals, review your goals and always use SMART.