Do You Have A Year End Goal?
I run a series of Mastermind Groups for entrepreneurs in the Toronto area and one of the exercises we’ve done with all three of the groups is to set a goal for where the members want to be at the end of the year.
Why goal setting is important
When you have a goal that you are working towards, your business has focus. Too many young entrepreneurs jump from one idea to the next and do not follow through on anything. It is easy to get distracted and end up not accomplishing what you want because you lost your focus. Also, when you set a goal you give yourself something to shoot for. It should be something that motivates you to get up every day and take action because you are reaching for a target.
How do you set a goal?
When you are doing goal setting it is important to find something that is very important to you. If you are not passionate about the goal you are setting then there is no way you are going to put the hard work in to achieve the goal. I would also encourage you to set a numeric goal because it is easier to track. Instead of saying you want to get more customers by the end of the year put down a number. For example, you could want to land 10 new customers or 100, or 1000… or more depending on your business. Having a due date is also important which is why we said December 31, 2007.
Commit to someone else
If you commit to someone else you are more likely to follow through on your goal so once you set them tell others it them and give them updates. Nobody wants to look bad in front of their friends and peers so it will drive you to accomplish what you said you were going to do. You will also build yourself a great support network and people will want to get involved to help you achieve your goal. If you do not commit to others then it is too easy to get lazy and not follow through. A quick example is a personal goal of going to the gym to lose weight. People who go to the gym together are more likely to continue doing it but if you are going alone you will find many reasons not to go and you end up not following through. Having your own Mastermind Group can also be a great way to hold you accountable.
What is your goal?
The goal that I have set for myself is to reach the 35,000 spot in Alexa for my website. I have been hovering at around the 50,000 mark for a while so it will be a stretch but I am excited to strive for it.
What are your goals for December 31, 2007? Where do you see yourself and your company?
Evan Carmichael
Evan CarmichaelYoungEntrepreneur.com Blog Manager
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3 Comments so far
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Evan, great post! I think the mastermind sessions are also great.
I very much agree that having a goal, working towards it and being accountable for it is key. Especially the accountability part of the equation. My friend and fellow entrepreneur Michael Simmons created an online community, Journeypage.com. The site allows for people to post their goals along with a profile and helps them to get an accountability partner to make sure they achieve their goals.
I have used the site for several months now and it has helped me immensely to achieve my goals. I think it is definitely something every young entrepreneur should check out.
Goals are very important. It really helps to be accountable. Good luck to reach 35,000 in alexa
Amanda
http://thetimemastery.com
[…] Small victories add up - I was seven over par after four holes before I made a birdie on the sixth. As my card shows, I then started gaining momentum with some pars and bogeys. On the back nine, I almost crashed with two triple bogeys (stupid water!). Each time I stumbled, I re-grouped and focused on the next hole. Each hole with a par or bogey was a small victory. You and your business will make mistakes, but each day should be focused on forward momentum. As Evan points out looking ahead can give you something to shoot for, but it’s the small victories that allow you to reach your destination. […]