New year: New goals!

As the new year begins, it’s the perfect time for us leaders and entrepreneurs to reflect on what we've accomplished and where we want to go. It’s easy to get caught up in the daily hustle, but if you don’t take a step back to set clear goals, it’s all too easy to drift without a clear direction. This is why setting objectives at the beginning of the year is so important: it gives you focus and purpose.

Whether you're just starting your business or you've been at it for a while, setting objectives is key to moving forward. But not just any objectives, they must be realistic and broken down into short, medium and long-term goals. Each type of goal serves a different purpose and keeps you on track.

Short-term goals are those that you can achieve in the next couple of months, max 12 months. They are immediate and actionable, focusing on things you need to get done now to get the ball rolling. These goals are all about taking action and setting the stage for future success. For example, you might want to launch your website, complete any admin work, reach out to potential clients or grow your social media following. These goals are great for getting immediate results and building momentum early in the year.

Then, there are medium-term goals, which will take a bit longer, maybe anywhere from 1 to 3 years. These goals typically involve bigger tasks that require more time and effort, like securing funding, expanding your product offerings or building a stronger team. These goals are about positioning your business for scalable and sustainable growth. They might not yield immediate results, but they’ll lay the groundwork for future success. For example, you might aim to double your customer base or expand into a new market.

Finally, you’ve got long-term goals, which represent the bigger picture. These are the dreams and aspirations that will take up to 10 years to achieve. Long-term goals require strategic planning and patience. These are the objectives that will guide the direction of your business for the foreseeable future, like becoming a leading brand in your industry, going global or building a strong company culture. Long-term goals keep you focused on what really matters and help you stay motivated when things get tough.

One approach you might not be familiar with for setting goals is the WOOP technique. While I am sure you are familiar with the SMART method to set goals, today I will present the WOOP technique as it is a dynamic way to frame your objectives.

WOOP stands for Wish, Outcome, Obstacle and Plan.

This method helps you identify exactly what you want, imagine the outcome, think about the obstacles that might get in the way and then make a concrete plan to overcome them. It’s simple but effective. Especially if you draw it out.

Start by identifying what you really wish for: what is your ultimate goal? Maybe you wish for funding to grow your business. That’s your wish. Then, think about what the positive outcome would be if you achieved that goal. Maybe it’s the ability to hire more people, increase your production or market your product more effectively. That’s the outcome.

Next, think about what might get in the way of achieving this goal. What obstacles could stop you from making progress? It could be anything from a lack of connections to potential investors, to not having the right pitch materials or simply not having enough time to dedicate to the process. Recognizing these obstacles helps you prepare and gives you the opportunity to plan for them.

Finally, make a plan. What are you going to do to overcome these obstacles? For example, you could network with potential investors, improve your pitch deck or focus on building a stronger customer base while you continue to work on securing funding. With a clear plan in place you are more likely to succeed.

Sometimes, it’s easy to think that just wishing for something is enough to make it happen.

But here’s a fun example to show you why that’s not true. Imagine you really want a red car, and you put it out into the universe: you wish for it, even pray for it. But then, one day, the fire squad shows up at your house. They’ve arrived, but instead of delivering the red car, they’re here to deal with an emergency. And the firetruck is red. So does that mean you got your wish?

Just because you wished for a red car doesn’t mean it’s going to appear in front of you out of nowhere. That’s wishful thinking and it’s passive. In business, it’s not enough to simply wish for success. You need to set goals, take action and create a plan to achieve them.

And remember, there is an important aspect in all this: what gets measured gets done. So ensure that you’re on track to achieve your objectives by tracking your progress.

Whether you use a spreadsheet or a project management tool, it’s important to check in on your goals regularly. Minimally monthly This helps you see where you’re excelling and where you might need to make adjustments. Don’t be afraid to pivot or change direction if things aren’t working. The key is to stay flexible while keeping your eyes on the prize.

Having support along the way can also make a huge difference. Seek out mentors, advisors, business coaches or people who’ve been through the entrepreneurial journey themselves. Their advice and experience can help you avoid common mistakes and stay motivated when things get tough.

And don’t forget to celebrate small wins. These milestones, no matter how small they may seem are the stepping stones that will get you to your bigger objectives.

Therefore, setting clear, actionable objectives at the start of the year is crucial for any leader or entrepreneur. Whether they are short, medium or long-term your goals provide direction, help you stay focused and motivate you to push forward. Using a technique like WOOP can give you a framework to think about your objectives in a more structured way and address any obstacles in advance. But don’t just sit back and wish for success – take action, create a plan, and make it happen.

If you need help setting your goals for the year or would like guidance on how to turn your objectives into reality, feel free to get in touch. I’d love to help you!

Dr.Abhishek Verma Draghia Cornel Eniko Fulop Balázs Fül?p Enik? Krisztina Anca Enache