Resetting your business goals - Peter Boolkah

Resetting Your Business Goals

 

Are you feeling stuck? Did you know that growing your business is intrinsically linked to your goals and dreams? If a tree isn’t growing, it’s dying and If a business isn’t growing, it is also dying. I’m going to set out the reasons why a business may stop growing and how to address things to get your organisation back on track.

 

Never settle:

When we leave education we all have ambitions. Some of us would like to earn enough money to buy a big house or an expensive car. Some of us would like to travel the world. Many of us are keen to meet someone to share our lives with. Those goals are clearly defined and we know that very often we need to earn money to realise those dreams. As the years tick by, we get on the property ladder, we get a decent car. At this point our lives are good and we feel we have achieved. We may not have the exact house we dreamed of or the top performance car we imagined, but what we have is good enough. We settle. We are comfortable. It requires energy to desire something which may seem out of our reach and we may not have the motivation for that. Settling can be defined as forgetting what those original dreams and goals looked like. If we settle we can not move forward. 

In business it is the same. Our business is a reflection of our personal desires. All entrepreneurs and business leaders set out with a clearly defined purpose. Very few of us have an Elon Musk or Richard Branson high sense of purpose or the finance to make it a reality. Setting up a business for most of us is to facilitate our own personal goals. Once our business has enabled us to meet those goals, the organisation starts to tick along at our level of desire. Very often it remains static. It does not grow. Very rarely we see founders and CEOs who are not driving their businesses forward but are still seeing growth. If we do see it, the only reason is because the market they are operating in is growing. To rely on this happening is a dangerous tactic.  Our business operates within a certain band and stays there because we have not reset our personal goals and ambitions. They may still be the same ones we left school or started the business with. We need to reset.

 

How to reset: 

First you need to reset your personal goals and ambitions. Ask yourself what you really desire? Where do you want your life to be in 5 years time? Draw up a bucket list and write down the things that you really want. Give it serious thought and do not put something on the list you think should be on the list, make sure what is on the list is what you really want or you will lack motivation to achieve it. Go and look at the house of your dreams, go and test drive the sports car. This will help your desires to become real and you will strive to realise them. The next step is to translate them into business aims and goals. Make the business a reflection of your current desires. You can do this by asking yourself these questions: What do you want to grow your business into? Why do you want to grow your business into that? If it is a figure, say £2 million, ask yourself why that figure in particular? Have you thought deeply about what that figure means to you? What will that figure enable you to do? Resetting your life should become a habit.

 

Make a Five year plan:

When do you want to move house, buy the car and have the experiences you desire? Work out how much it will cost to achieve those things. 5 years is a good period of time to base a plan on. It often follows our personal and business financial obligations. For example, mortgages are often fixed for a 5 year period. It is also a good period of time for self development. A longer time frame can be problematic. Setting goals and aims too far in the future leaves us with a lack of urgency which can affect our motivation to move ourselves and our businesses forward. As individuals we develop. It is hard to look at ourselves and how we may have changed beyond that 5 year period. Keep checking back in on your desires and goals during the 5 years, they may shift slightly. Finally get excited about it. As you reset your personal dreams and ambitions you will propel yourself forward. By doing that you will move your business forward and see real growth.

 

If you want more information on how to create your five year plan get in touch.

Remember, failing to learn is learning to fail. 

 

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