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5 Ways Goal Setting Can Help Increase Your Business Success

As a business owner, there are plans you need to make. When you started your business, there was a need to provide a specific solution. This solution may come as a product or a service that solves a problem your target audience face.

Before opening your door, physical and online doors included, you created a marketing plan for yourself and your business. This marketing plan also may have covered the goals you want to achieve when you started your business. In some cases, you may have just one major goal.

Just one target that will set you apart from your competitors and set you up for continuous growth.

After a few years in business, learning, experimenting, and growing, you have gotten to a special stage. This position is where steady growth and single-tunneled focus are no longer working out well for you, and there’s a need to expand.

With expansion comes the challenge of managing multiple businesses, multiple streams, and multiple needs.

At this point, you need a unit to measure the position of your business regularly. Because there isn’t one unit that satisfies every industry, goal setting serves as a way to gauge your progress at every point.

A Deep Dive into Goal Setting

Every business professional and entity sets goals. This can be broken into marketing goals, profit goals, and growth goals in different industries. Nevertheless, they all serve as a way to navigate and measure the progress of a business in certain regards.

Goal setting doesn’t have to be a monotonous task that you have to carry out regularly. Your business is always affected by environmental factors like new policies, technology, international relations, consumers, and suppliers.

Because these factors exist and are ever fluctuating, your goals have to be stable and flexible at the same time to meet up with these requirements.

Setting business goals helps sharpen your focus and align all business practices on the path to achieving the set goals.

Just because you set your business goals at the beginning of the year doesn’t mean it should be the same year-round. You should amend and adjust these goals to get you exactly where you need and want to be.

To make it easier, goal setting can be divided into the short and long term.

As a business professional trying to attain your goals, breaking them into the short-term and long-term is essential.

Breaking your goals into short-term and long-term goals helps you measure your performances in smaller bits; whether during a weekly or monthly review of your business activities.

Doing this gives you an in-depth view of your business’ capabilities and allows you to make better decisions that’ll lead to achieving the long-term goals.

Let’s take a look at five ways that goal setting can benefit your business.

1. Clarity

When setting your business goals, you should pay attention to the type of goals you are setting. Doing this helps you gain clarity in your business.

Before setting your goals, you should have a marketing plan set to pursue these goals. This plan helps you gain clarity in the steps and processes you need to take to achieve your goals.

Goal setting also helps you gain a better view of your business. By setting goals, you can see your weaknesses, lapses, and shortcomings, which will help you make better plans to tighten your ship.

Clear and specific goals help you eliminate any confusion associated with your business direction and activities.

2. Challenge

Though one or two may be risk-averse, every business professional and entrepreneur coverts a good challenge. Why? Because challenges motivate you and light a fire of determination to succeed.

Goal setting serves as more than just targets to hit on a scoreboard. Setting goals in your business challenges you to break barriers and soar above your wildest imagination.

When faced with challenging business goals, you can think bigger, better, and out-of-the-box. Thinking differently also makes you a pioneering professional in your niche.

By setting challenging business goals, you can achieve more which will help you build a winning mindset.

3. Commitment

Your business should have your absolute commitment. Setting business goals helps you learn to be entirely committed to your project. Through this commitment, you can build better skills that are infused in running your business more effectively.

Goal setting also helps you build a long-lasting relationship with your business. Many businesspeople close their doors because they have nothing driving them to perform better.

Goal setting keeps you committed to the cause, thereby producing rewarding benefits.

4. Task Complexity

Setting business goals also means taking the time to ensure that these stretch goals are attainable. This also allows you to evaluate your current path as a business.

When setting goals, you should ensure that every task that supports the end goal is attainable. Doing this helps you study and break down each task’s complexity and formulate best practices to attain them.

5. Feedback

Your business goals are the results you hope to achieve after a period of time. When working towards your end goal, you need to welcome and be receptive to your employees’ and clients’ feedback.

Feedback can be a valuable tool in adjusting business practices that will enable you to achieve your goals faster. Goal setting works hand-in-hand with data gathering and feedback, which helps you calculate the possibility of attaining the goals you have set for your business.

Take a step into setting better goals for your business by dividing your goals between long-term and short-term goals. Then plan out smaller benchmarks to help you keep on track at all times.

For more help on setting goals, so you can create your ideal business and ideal life, reach out to me today to schedule your complimentary consultation.

Accountability, Blog

7 Tips to Enhance Your Performance in Life

The need for a balanced life is more important than ever. Too often, our work life and personal life overlaps, so enhancing your overall performance can only benefit both aspects of your life. Having a growth mindset can help you to overcome any challenges you may face, both professionally and personally.

By following these seven tips to enhance your performance in life, you’ll be more likely to maximize your potential and reach your goals. Are you ready to start implementing changes into your life that will increase your performance and help you grow as an individual? If yes, then read on!

1. Set Crystal Clear Goals

As a business owner, you may be constantly thinking about setting your team up for success, but don’t forget about yourself! Set yourself up for success by setting clear goals. You set your annual goals and review your progress every month to help you know where you are against your annual goals, so you can course correct, if you are off track at all.

If you’re not sure where to start, you can start by setting longer term, larger goals and breaking them down into smaller and more manageable goals.

For example, you can set a goal of running a half marathon in the next year. Break that down weekly by starting small and running 3 miles a week, then build up slowly until you’re running more and more each week. By the time the half marathon comes along, it’ll be a breeze!

Another example is, instead of setting a goal to “increase revenue for the year,” set a specific goal with an actual number, such as “increase revenue to $120,000 by year end.” Then break that down into smaller goals by month, such as “hit $10k in revenue per month.” Once you have a more concrete goal, you can plan out the steps it takes to achieve that goal!

2. Practice Effective Communication

Effective communication is so important in both our personal lives as well as in business. Practicing empathy goes hand-in-hand with communicating effectively. Whether you’re speaking with a loved one or a co-worker, approach the conversation with empathy and an open ear. Start by trying to see where they’re coming from, and use phrases to describe how you feel, not what you don’t like about the other person’s actions.

Listening well is a very important skill that needs to consistently be practiced to be refined. It can be easy to hear something and react immediately. It’s much harder to listen, take time to reflect on what someone says, and then respond with intention and kindness. With practice, it can become second nature and enhance many different types of relationships in your life!

3. Set Aside Time to Rest and Recharge

Performing at your potential doesn’t mean going nonstop 24/7—it means having the self-awareness to know your body and its limits.

Take the time to rest and recharge. Get enough sleep, and also take moments throughout the day to give your brain a break. Whether that means taking a walk around the block or stepping away from your laptop for a coffee break, taking breaks will actually increase productivity.

When you do take a break, work to clear your mind of anything work-related. Do something fun, meditate, get some fresh air outdoors. If you have someone who can take a break with you, it helps to have that accountability and be able to interface with someone face-to-face throughout the day. On a larger scale, plan out vacations for yourself! It could be a road trip, a staycation—nothing necessarily extravagant. Taking time away will help recharge your batteries, so you can come back ready to tackle whatever comes your way!

4. Define Your Top Three Tasks Each Day

Do you ever find yourself continuing to add to your to-do list throughout the day until it’s long and overwhelming? It’s not realistic to think we can get through everything on our list.

Start your day by defining the top three tasks you want to accomplish for that day. It could be an errand you’ve been putting off, a proposal you’ve been needing to send, five calls to prospective clients, or a dish you’ve been wanting to cook. Stick to those three first—when you get through them, then great! Either give yourself time to rest or knock out more to-do’s that are next on the priority task list. You’ll feel more productive getting those extra activities done, and at the very least, you’ll know that you’ve accomplished the three top tasks on your list.

5. Practice Gratitude Each Day

Gratitude is a powerful emotion. When we express gratitude, our brains actually release dopamine and serotonin, which are the neurotransmitters responsible for making us feel good. Expressing gratitude can lead to better health and bring us happiness.

When life gets overwhelming, it can be hard to consistently practice gratitude. Which is why it is what it is—a practice. Some people start their day with something they’re grateful for, and others prefer to end their day reflecting on what they were grateful for that day.

Whichever one you prefer, write it down and speak it aloud. If you have a partner you can do this with, even better, as you can remind yourself to reflect on the day and ask each other what you’re grateful for. Practicing gratitude can help you put things into an even more positive perspective. As hard as things may seem, they could be worse. There is always something to be grateful for. You just need to be intentional about acknowledging it.

6. Revisit Your Definition of Success Often

As you go through different stages of life, your definition of success will change. Perhaps at a younger age, monetary success was your only definition of success. But as you get older, that definition may change as spending time with loved ones becomes more important to prioritize.

Whatever your definition is, revisit it often to make sure it aligns with your current values and goals. By taking time to think through how you define success, you can check how you’re progressing towards your goals or if you need to pivot.

Keep in mind that “success” is subjective–someone else’s definition of success is not your own. It will look differently to everyone, and it’s important to build your own definition of it.

7. Get Enough Sleep Each Day

Never underestimate the power of getting enough sleep each day. Being well-rested enhances your performance in many ways. It can improve concentration and productivity, and leads to a healthier lifestyle, and also decrease long-term illnesses.

For optimal performance, aim for 8-9 hours of sleep per night. Make it work around your schedule! If you tend to work better at night, stay up a little later and sleep in a bit later. If you’re an early riser, get to sleep earlier, so you can wake up earlier. Your body will thank you for it and you will be more focused and productive.

By incorporating these 7 tips into your daily life, you’ll enhance your performance in life in many ways. To recap, set clear goals, practice effective communication, set aside time to rest and recharge, define your top three tasks each day, practice gratitude daily, revisit your definition of success, and get enough sleep every night. Not only will you be more successful, you’ll also be able to enjoy the benefits of a truly balanced life! For more help on creating your ideal business and ideal life, reach out to me today and schedule your complimentary consultation

Accountability, Blog

Are you an effective Leader?

Understandably, most businesses are focused on nurturing the relationships with their clients, but running a successful business is also dependent on effective management and leadership skills. If your employees aren’t functioning to the best of their abilities, your business won’t be either. So, ask yourself, are you an effective team leader?

Do you lead by example?

One of the best ways to fully understand how to become an effective leader is leading by example. You’re not entitled to talk the talk if you can’t walk the walk. If you expect your team to work diligently to meet a goal, you must do so yourself. If you expect your team to dress in certain attire each day, you must do so yourself. And, if you expect your team to constantly improve their productivity, share your secrets for continuous personal and professional improvement.

If you’re not sure how to do these things yourself, don’t expect your team to fully grasp the importance of productivity. An admirable trait of effective team leaders is that they’re constantly improving themselves so they can pass their newfound knowledge onto their team. You are an effective leader if you can identify this trait in your own business practice.

Action Step: If you are not leading by example, then change your actions immediately. How can you expect your team to follow your golden rules if you do not follow them yourself? Think about that.

Are you compassionate and patient, yet firm?

In order to understand how to be an effective leader, you must be compassionate to the human condition. Effective leaders are understanding and patient; yet do not allow themselves or their team to compromise on the very things that make a business successful. As a leader, you are never above your team. Instead, you are beside them, willing to dig in the trenches alongside them. At the same time, they clearly look to you as a team leader. You help them to focus on their own growth, because that benefits the success of your business.

Action Step: Reaffirm you are a team – and operate as a team. At the next team meeting, ask for their feedback. What’s working? What’s not working? Listen first, offer solutions second. Involve them in the solution process by asking for possible solutions to problems. If you ask for their opinion, you must be dedicated to helping resolve issues.

Are you an approachable leader?

One of the most valuable traits of an effective team leader is that they’re willing to teach. Some team leaders will scold employees and expect them to learn new concepts at the blink of an eye – and this is a perfect example of the actions of an ineffective team leader. An effective leader understands that each person has a different style and pace of learning. While one team member may be able to catch on instantly, another may require more guidance. Effective leaders never criticize learning styles or pace – they adjust their teaching style to accommodate the team member’s learning ability.

Can your team approach you with a question and receive a clear, neutral answer? Effective leaders will always be accessible to their team, especially in time of need. If your team is terrified to approach you for help, they will not be performing to their fullest potential.

Action Step: Practice being approachable. At times, team members will come to you for help when it is convenient for them, but not so convenient for you. Often times, you will need to shift gears quickly, but without appearing irritated or frustrated. Always try to improve your approach with team members, showing calmness, professionalism and immediate solutions.

Do your actions build team loyalty?

An effective leader doesn’t earn loyalty by instilling fear. An effective leader knows how to positively gain trust, loyalty and dedication of the entire team. Your team will only back you up when you back them up. This is where it has to be given, without expectation, before it will be returned. Just as you will remember when your team went to bat for you, they will remember when you did the same for them. Every time you stand behind them, this builds loyalty and a valuable team mentality.

Be sure to choose quality team members who show a solid history of reliability, consistent performance, and stability when building your team. Hire a teenager with a reputation for not showing up to his previous place of employment, and you can be assured you will see the same. Be particular about potential team members and do thorough research and reference checks before bringing them on board.

Other Tips to Build Team Loyalty…

Pay above minimum wage
Be flexible when there’s a disaster or emergency
Give holiday bonuses or small gifts
Hold team building events (e.g. sports, meals, or an afternoon trip to the coffeehouse)
Remember birthdays and employment anniversaries

Action Step: Evaluate your team members. Are they the right team? Do they deliver what the business needs to grow? Are you providing incentive and support for the team’s effective performance? Identify changes or adjustments needed to make the business more effective and efficient: possibly adjust tasks per member, re-delegate to a different team member, release or add team members, adjust systems and processes, or create improved incentives that inspire your team. So how did you score? Being an effective leader takes time and lots of personal development. Honestly, some people will never be effective leaders because it doesn’t suit their personality. However, as an entrepreneur and business owner, it is vital that you become the best leader you can be so your business, and your team, can grow personally and professionally. Ultimately, how far you want to take your success depends on you. When you commit to evolving into the best person you can be, your success follows suit – and so does your team.
Feel free to offer any comments here or on LinkedIn at https://www.linkedin.com/pulse/article/you-effective-leader-anne-bachrach/edit.