I’m driven, focused and use personal goal setting in the written form to drive my business success.
I believe that to be a successful businessperson, you must be a goal setter in the written form and utilise an actual Goal Book.
By setting personal goals and creating a defined monitored roadmap for how you’ll reach your intended target, you can decide how to apply your time and resources to make actual progress in your business.
Without written visual goals, it is difficult to determine how to successfully start or run a business, get a certain job, promotion, or other milestone.
All my business goals have been driven by my personal goals.
Unfortunately, not many people in business, actually use a goal book, utilising their personal goals, to drive business success.
How many of your listeners would actually use a goal book every day? I would say very few.
I believe learning to be a goal setter is one of the most important factors in your becoming a successful businessperson.
I have found a written, visual, goal book works best for me, however some of my business colleagues have used vision boards or others, used goal-setting software packages.
Goal setting is personal, and every person will utilise their goal book slightly differently from one another.
Once you master the goal-setting principles and learn to channel your personal aggression, into becoming the catalyst to react to and drive your goal-setting, you should become highly motivated.
This motivation in itself will lead you to success and make you a far more efficient businessperson in tackling all the management tasks and functions that await you throughout your business career.
I believe that the formula for success you need to master is:
A + G = M Do any of you know the meaning of this formula?
A (aggression) + G (goal setting) = M (motivation)
Motivation is what drives us to actually make things happen – but staying motivated isn’t always easy which is why we need to use our personal aggression to ensure we utilise our goal book correctly.
Your goals must also be SMART:
Specific, Measurable, Achievable, Relevant and Timely.
How do I set my goals?
Let’s look at a long-term personal goal and break it down:
To purchase a large 5-bedroom home suitable to renovate in the current suburb that I live in, by the end of November.
Firstly, we find out the approximate cost of the new property. Say $1,000,000. My existing 2-bedroom property is worth $500,000 with a mortgage of $200,000 so I will have to finance $700,000. My current mortgage is $1,550 per month.
On a 15-year mortgage that would equate to approximate repayments of $4,500 per month.
Current actual living costs are $5,000pm.
That will mean that my net earnings after tax have to increase by at least $3,000 per month because my current mortgage is $1,550 per month. How am I going to achieve this?
We then transfer this goal to your business goal section.
You will then have to reevaluate your business plan to show what you need to do within 1 year to increase net profit after tax by at least $3,000 per month.
Numerous strategies will need to be evaluated and implemented to ensure you can achieve this and all your current and long-term goals.
You then need to plot this in your goal book so that you can monitor your progress to achieving your goal. ie: Plot progress on a graph.
You will more than likely have numerous personal goals.
Short Term (say: to spend 2.5 hours at the gym per week),
Medium Term (say: to take a 2-week holiday overseas),
Long Term (say: to buy a new car or house).
Break the goals down financially and use this information to help you formulate your business plan to ensure that your business has the capabilities to ensure you can achieve your goals. Your specific goals are useless if they are not relevant and achievable in a timely manner, but most importantly they must also be measurable.
