Effective goal setting builds relentless growth momentum
By Pavlo Phitidis
Building a business has very little to do with taking over the world. Instead, it has everything to do with adhering to a clear plan that enables you to build towards the future.
Reflecting upon a year gone by, entrepreneurs often lament that they did not achieve what they set out to do, and look hopefully towards a new year, with keen hopes for finally achieving their goals. New Year’s Resolutions, however, don’t work for business.
I spoke with Bruce Whitfield on how to build relentless growth through effective goal setting irrespective as to what is happening in your socio-political-economic environment, something all entrepreneurs are becoming too easily distracted by.
With fifty-two weeks allocated to each year, you can create and implement fifty-two activities that work, in a cumulative fashion, to build your business, despite an ever-changing environment, economy or global events.
A good entrepreneur gets the world to respond to them, and does not operate in a reactive way. Steadfastly focusing on their business vision, despite the distractions of the outside world, business leaders create significant momentum to build towards the future.
Use this simple approach to build your business in a fast-changing world, and chart your business plan:
Set the vision for your business every year, to remind yourself why you do what you do. Remember that the energy to build your business does not come from the past, but from the future, which is where your vision leads to. Vision does not emerge in a whole, but is something you build towards. Like him or not, Donald Trump’s vision of “Make America Great Again” is a well summarised vision that energised his campaign, and will continue to be a central focus for his presidency.
Defining and assimilating your business’ set of values is imperative, as this charts the way your company behaves in terms of its staff, suppliers, relationships and activities. Ensuring that your business values align with your personal values is critical, as this makes it far easier and energy intensive to authentically build your company. Remember too, that values have the unique ability to become incorporated into your business processes and systems, as they underpin the way you respond to every situation.
Setting significant goals for your business is important, but setting too many will not lead to success. In fact, the biggest companies in the world set no more than three goals per year, and that’s what drives them towards success. Big businesses are not built, over the years, by luck - they are built through momentum. The small, multiple, activities you implement throughout the fifty-two weeks of this year, create the momentum your business needs to grow.
Setting goals to build the momentum behind growth is a tough task on your own. Drawing on your staff, friends or family might work but it’s unlikely. They don’t understand your fears and hopes. Goal setting should also be linked to building your business into an Asset of Value, something that we are expert in. Contact us today and let’s work with you to set the goals that will build your business into an Asset of Value!