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Posted by  in Business Fundamentals

We’ve taken a little tangent off our initial topic of the The Ultimate Business Success Equation that we began on September 17. I want to get back to that today.

We all know we need to set goals in order to move forward. With a business it can be hard to figure out just where to start. There are so many things we could do, and vague goals increase procrastination. How do we set goals that move us forward with speed and energy instead of blocking us with inertia? Today I’m going to show you the first of two parts showing you exactly how. You’ll be delighted at how simple it is. Know, however, that goal-setting is a serious business, and you need to set aside a good amount of time for this – minimum half a day.

I want to take you back to the idea of tackling a different part of the success equation every month. What we’re going to focus on today is how to set goals in those areas that will really help us move forward.

Set aside some time and look at your business using the The Ultimate Business Success Equation. Where is it starting to break down? Do you have lots of people stopping by, but no one’s buying anything? Are there lots of buyers but you’re still not making ends meet? Do people who purchase love your product or service, but you’re struggling to get the word out? Take each part of the equation and use it to analyze your business. Pick the weakest part, and start there.

Let’s say your biggest hassle is that there just aren’t enough eyes on your business. You decide you need to increase the number of leads.

So, here are the steps for taking that problem and resolving it.

  1. Find out exactly where you are: To the best of your ability, find out how many leads you actually get. How many people walk through your door? (use a simple Clicker Counter to find out) How many eyes are on your site (use Google Analytics or Statcounter – both free – to discover this). Spend the time necessary to get a starting number.
  2. Find out where you want to be: Based on those numbers, what kind of goal do you think is reasonable to set for the next level of achievement. With leads, do you think you can realistically increase them by 10%? 50%? 100%? As you decide this, you need to ask yourself how skilled you are in this area and what resources do you have at hand. If you have never tried to increase your leads, you might want to start with a low number to just see what happens. If you’re clueless about which number to pick, choose 10% and move on. Make sure you have the exact number (i.e. increase my leads from 100 to 110)
  3. Set a target date: When will you accomplish this goal? I usually like to set one month to get everything up and running, and one month to let it run. So, in this case I’ll take a month to do the research, set up my system, and figure out how I’m going to use it, and then one month to use it faithfully so I can see how it works. So if this were my goal, I’d probably set the end date for November 12, 2011
  4. Decide how you’re going to do this: You could simply go through my article on 21 Ways to Find Leads for Your Business and choose one or two things that look reasonable that you feel comfortable trying. If you don’t know how to achieve your goal, then your first goal would be to find out.
  5. Write out your goal in SMART form: In other words, make sure it’s Specific, Measurable, Achievable, Realistic, and Time Bound. Here’s what that might look like:

    By November 12, 2011(T) I will increase the leads to my business (S) by 10% (from 100 leads to 110 leads per month)(M,A,R) by joining a networking group for restaurant owners (S)

    Now you have a nice tidy goal. On Saturday I’ll show you how to take that goal and set a series of mini goals that will enable that goal to happen quickly and efficiently, avoiding the whole procrastination/overwhelm that usually accompanies goal setting activities.

    Hopefully you found this helpful. Please post any questions or comments below – I’d love to hear from you!


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