How to Prioritize your Business Goals
Have you ever felt like you haven't accomplished anything?
I had a few conversations today that left me incredibly motivated, and also a little fear-stricken.
It got me to thinking about how much I have accomplished as a business person over the past year, and what I have not accomplished.
The theme of both conversations revolved around doing something that:
1) You really WANT to do and
2) Doing something because you know you NEED to do it.
The balance between what you want to do and what you need to do is sometimes a difficult balance to achieve and maintain. I am not sure anyone can say for sure they have mastered this skill.
However, in identifying your “wanting to do” and your “needing to do” action items, we can develop an action plan that will lead us toward accomplishing our goals without the feeling of sacrifice or compromise.
Here is the advice I gave:
Spending time on elements that will build up and scale your business is a far better use of your time [than spending it on tools and services that won't apply to you or your business in the future].
One major challenge entrepreneurs face is prioritization based on OUR business goals instead of OTHERS shiny objects they have built for us!
Sometimes, there is such a thing as “good enough” in the context of knowing just enough to take action on critical aspects of your business that will pay off in the short term, versus those long-term action items that maybe are really nice to have, but are not “mission critical.
To summarize, it is easy to fall into the trap of being your own worst enemy when it comes to taking action and achieving goals. No one knows your business better than you. And no one can dictate which direction it goes. You're completely in control.
My 7 point guide to helping you Achieve Business Goals:
1. Develop a list of business goals in order of precedence
2. Segment these goals into two parts: Short term and Long term.
3. Matchup short term and long term goals if you notice parity.
4. List out the resources and tools you will need to make your short-term goals a reality.
5. Do the same step for long-term goals.
6. Estimate your ROI for accomplishing each of these goals.
7. Pick one short-term goal to work on immediately, and a long-term goal to start after you have completed the first short-term goal.
Rules: You cannot have more than 3 goals “in progress” at once.
By taking this methodical approach to your goal setting and action taking, you can essentially stack your progress in the exact way you envision, without being overwhelmed by shiny object syndrome, or mission failure because you took on too much, too soon.
To your success!