I really believe that annual planning should be simple, but it also should take us some time. My process for planning out a great year is three steps: Business Goals, Personal Goals, Keys to Success.
Business Goals: I recommend writing out a longer list of what you want to accomplish this year in your business. Often I and my clients will end up with between 10-20 goals on this list. They’re the bigger things: revenue goal, profit margin goal, process improvement goals, customer experience goals, etc. It’s important these are GOALS and not tasks. Tasks are things that can be done quickly, goals are things that happen over a period of time. Also, remember when setting these goals to “start with the end in mind”, to take from Stephen Covey’s 7 Habits of Highly Effective People. In other words, make sure your goals for 2015 are such that they’ll help you accomplish your 3/5/15 year goals.
Personal Goals: I think these are more fun than business goals. That’s because these should be the REASONS why you’re going to work your tale off to hit your business goals. So, these are your motivators for success. I have 11 substantial personal goals for 2015. Many of my clients have between 7-15. Again, these should be bigger goals where you’ll have to stretch yourself to accomplish them. “Make more money” is not a good goal that will stretch you. It lacks specificity by not saying how much or how much more money. A better goal would be “make $310,000 income” (make sure that your income goal is realistic/achievable but will stretch you a bit. Like Jim Rohn said- do it for who you have to become to do better financially- not just to make more money. If you made $50,000 last year, it might not be realistic to make a goal of making $300,000 this year. Or maybe it is for you- just make sure it’s not pie in the sky or it won’t motivate you.).
Keys to Success: These are the “keys” to making it all happen. We all have them. It’s usually around a half dozen things. I’ll offer mine as an example. I have six. They are:
1. Quit researching stocks during business hours (I’ve grown a bit addicted to researching new stocks to buy- and it hurts my productivity).
2. Up early- 5 am M,W,F, 5:30 T, Th – (Crossfit MWF) followed by prayer, reading, and seeing family/breakfast/coffee with Maria daily
3. Reading: one business book every other week
4. Schedule two Complimentary Coaching Sessions weekly.
5. Schedule one speaking engagement weekly.
6. Attend a coaching conference in Q1.
Those are the six keys for me that I know I have to do well at in order to accomplish my goals. When I’m disciplined about these six, I always hit my goals.
SMART Goals: Make sure all of the above goals are “SMART”: Specific, Measurable, Achievable, Results-oriented, and Time frame. If you’re unsure of what any of these mean, shoot me an email and I’ll explain.
The biggest thing is that you’re committed to accomplishing what you set out to do. That’s why not only establishing your business goals but also your personal goals (reasons WHY) is so important. Combine those with your Keys to Success and you’ve got a RECIPE FOR SUCCESS! Remember to teach it to your team (or better yet hire me to teach it to your team! :).
Good luck this year. Remember to stretch yourself and really go for it! We’ve only got one life to live here on earth- let’s do our best and make the world a better place!!
Jon O’Malley 651-275-8999