Setting Effective Business Goals for 2020

Goals guide all your business decisions. From the big dreams for your business’ future to your daily tasks, the goals you set remind you of what you are working towards each day and how to prioritize your tasks.

The question to ask is: how do I set effective goals?

It can be daunting when looking at your whole year or the years to come. The key is to keep in mind that goals are never set in stone. They are meant to be a focus point, you can (and should) iterate, adapt, or completely change them as your business grows and life goes on. 

Here are a few helpful practices to implement into your year, month, and week as you decide what to focus on to reach your goals.

Create Your Goals Based on a “Why”

“When you surface the meaning behind your goal and give it a voice, a simple goal shifts into a mission.” ?(Shine)

Your business goals will be easier to stay dedicated to if you have them connected to a deeper meaning and mission behind your goal. This could be anything from “I want to make $200K in revenue this year because I want to be able to pay myself a salary and take care of my family” to “I want to coach 10 new women in their businesses because I want to see more women in business and flourishing”. It can be anything you want it to be, but it has to be connected to something you really care about, usually the reason behind why you started your business. 

An example of a poor goal is “I want to earn $1 million in revenue because I think it will make me happy or make me look successful”. That goal is likely not connected to a deeper meaning or mission and is more likely to lead you to give up on it when it gets difficult to do the work to achieve it. 

Understanding that deeper mission and purpose behind your goal will also help if you fail to meet the goal you have set out to accomplish. For example, if you set a goal of having 10 business coaching clients because you want to help these women grow their businesses to see their families and communities flourish, but you only have 5 by the end of the year, how would you respond? 

You could look at that as a failure, or you can look at it as what it really is, which is having helped 5 women accomplish their dreams and making an impact where it matters. Goals help us to create and remember that perspective, while still challenging us to grow. 

Write Your Goals Then Revisit Them Often

The biggest mistake made when it comes to goals is we write them down and then forget about them until mid-year or two weeks before the end of the year. The best way to make sure you keep your goals at the front of your mind is to come back to them regularly. 

What are two effective practical tips to do this?

1. Set a non-negotiable appointment with yourself every month

Put this appointment in your calendar and set it to recure. Make sure that you include this in any scheduling software that you use and prioritize keeping this appointment each month. Pick a day and time that works best for you and when you know you will be in the right headspace and environment to think critically about the past month. Then take that time to deep dive into your goals and evaluate how you are doing, what went well and what you can change for next month. 

After doing this for a few months it will become a habit and be a regular part of your monthly routine. 

2. Break your goals down into bite-size pieces and evaluate them accordingly

Create 10-year, 5-year, 3-year, 1-year, goals, and work backward to decide what milestones you need to meet to get to where you want to go. 

Once you create these goals, you can break it down into monthly goals and evaluate those goals each week.

For example, if you have a yearly goal of signing 24 new clients that would mean you would have to sign on 2 new clients each month. Let’s say 1 out of every 10 people sign on with you this would mean you need 20 people each month. Then you can make it 5 people each week. Now you have bite-sized goals to work with and plan your workaround. 

Revisiting these goals each day, week, month, quarter, and year helps you to stay on top of the work you need to do to meet those goals. 

Making this a habit takes work and focus on the front end, but once it becomes a habit it will become a natural rhythm in your life. 

Surround Yourself with People Who Will Help You Win

No matter the goal, having a group to encourage you and hold you accountable will make a big difference when it comes to the day-to-day work and development. It can be scary to share your goals because if you don’t meet them then you have to face possible embarrassment or disappointment. However, if you share them with the right people, people who will encourage you and cheer you on, then regardless of the outcome they will celebrate with you and help you to have a good perspective no matter the ups or downs you face. Find your tribe and make sure to share your goals and encourage each other to succeed. 

Goal-setting is a big part of ensuring you stay on the right path for your business and it will dictate your work each day, week, month, and year. 

Ask yourself these questions today and do the work of answering them this week: 

1. What is your “why”? 
2. What rhythms have you cultivated in your life to check in with your goals regularly? 
3. Who is the tribe that holds you accountable and encourages you?

At Hera Hub DC we offer programs, events, and community that can help you to answer these questions and focus on accomplishing those big and exciting business goals. Learn more about our Hera Launch Program or connect with Julia via [email protected] to learn more about the community and opportunities at Hera Hub DC as a member.ting