In the day-to-day running of a business, goal setting and tracking can get overlooked, but it’s crucial for success. To make the most of your business, you need to clearly define success and plan how to achieve it. Here's how to start:
Begin by identifying what you want from your business. Reflect on what matters most—perhaps it's more personal time or reaching a career milestone. You’d be surprised how many painters set goals without understanding how these goals support their life objectives.
Adopt the SMART framework for goals that are specific, measurable, actionable, and time-bound.
Example of a poor goal: "Make more money while spending less time on the business.”
This goal lacks specificity and a timeline, making it difficult to act on.
Example of an effective goal: “Achieve $200k in revenue this quarter, with at least $60k in profit, while taking every other weekend off.”
This goal outlines clear success criteria, a deadline, and actionable steps.
Divide your main goal into smaller, manageable tasks. For a quarterly target, determine what needs to be done monthly or weekly. Breaking it down simplifies the process and makes daily progress more achievable.
If increasing revenue is your aim, analyze key factors like your close rate, qualification rate, and lead volume. Doing so makes it clear how to prioritize which areas you focus on.
While some factors are beyond your control, such as client decisions or market conditions, you’re in control of a lot within your business.
For example: winning every bid might be unrealistic, but dedicating time to sales training is within your control and can improve your chances.
Monitor your progress regularly, whether weekly or monthly. This not only helps you adjust your strategies as needed but also keeps you motivated. Seeing steady progress toward your goals can be very encouraging and help maintain your focus. It's a vital step in staying aligned with your business objectives.
Integrate goal-focused activities into your daily routine. For example, if your goal is to read a 1,000-page book, reading three pages daily will complete it in under a year. Consistent small steps in your business can yield significant results over time.
Are you trying any of these lessons from this newsletter? I’d love to hear about how they’re impacting your business. Also, would love to hear what you want to hear more about. Reach out to me on Instagram. - John
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