A new year is approaching, and with it comes the anticipation of a new beginning filled with hope and expectation. The week leading up to the new year is a time I look forward to. I take time to look back at the year to see what worked and what failed. I reorganize calendars and office systems. And most importantly, I set goals for the new year.
As with anything else in life, there’s a right way and a wrong way to set goals. If you just say what you want, and you don’t make a plan, you’ll fail. If you don’t say anything, then you’ll definitely fail.
“A goal is a dream with a deadline.” - Napoleon Hill
Goals need to be specific, measurable, achievable, realistic, and have a time limit. Let’s break this down into easy steps. Since we are business minded, we’ll focus on your business, but these tips will work in your personal life too.
An example of a business goal for the next year would be to increase gross income by 15%. At first glance, this goal might sound good. But let’s restate this goal so it meets the criteria.
Specific: Acquire 1 new client every quarter by joining a local networking group.
Measurable: Take last year’s gross revenue, $500,000, and multiply it by 15%. This equals $75,000. Now you know that you’ll need to make an additional $6,250 a month or $1,442 a week in order to meet this goal.
Achievable: Ask yourself if it is possible that joining a local networking group will bring in an additional $6,250 a month?
Realistic: If you think the goal can not be achieved, then adjust your goal. Look at the weekly number, break it down to a daily goal, and add it to your calendar or to do list. This ensures that you are working toward your goal every day. An added benefit is that if you’re missing your weekly goals, you’ll know early in the year that you’re not going to hit that additional 75K of income. You can adjust and move forward.
Set a deadline: 12 months.
Now let’s look at the revised goal. By December 31, 2021, I will increase gross revenues by $75,000 by joining a networking group and acquiring one new client every quarter. Put the goal in writing with pen and paper and read it every day. Write the weekly goal, in this case $1,442 a week, in your calendar and work toward it, adjusting as needed.
Let us help you achieve your goals by doing tasks that can free up your time so you can focus on increasing your revenues. We offer bookkeeping and administrative assistance. Visit our website and let us know if we can help!
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