We have been told for years that when we set goals, we must be SMART. Goals need to be specific, measurable, attainable, realistic, and timely.
This is easy to remember and also looks good on paper, but for those who want to achieve greater things, this is not enough.
Ask yourself would you settle for “attainable” and “realistic” goals or would you want to enjoy frequent international travel, a 3-day-work week, and enough money to fund mission trips? Nowadays, those safe, smart goals won’t get you anywhere.
In fact, they may even hold you back from achieving your full growth potential.
When you set an “attainable” goal of earning 10% more than last year, you might just limit yourself to working 10% more, spending 10% more on ads or product creation, thus you might only reach 10% more potential clients. So, the likelihood is you earn 10% more. Yes, you actually achieved something based on the goal you set.
The question arises whether you were inspired to work harder or did it set a subconscious limit on your potential to earn that you didn’t break through.
Savvy entrepreneurs have learned that achieving incredible success requires setting lofty goals that may seem unreachable or unattainable.
They decide to get 50% or even 100% more than their previous year’s earnings, not just a mere 10%. They challenge themselves. They discover new and better ways to accomplish things that make tasks easier, although they are ready to work even harder if required.
However, do not think that you can set crazy goals and expect the world to simply give them to you. Sometimes putting aside smart goals actually becomes a smart move. It is when you decide to give up attainable and choose “holy cow, how will I ever do THAT?” goals that you break down established self-imposed barriers and play among the stars.
Mompreneurs, you may not increase your income immediately, but it is a guarantee that you do better than 10%. Push your boundaries. Set outrageous goals, You may fail, but you’ll still be much better than where those smart goals would have taken you.
It may be difficult watching many promising entrepreneurs and coaches not succeeding like they should. They have dreamed of establishing a solid and sustainable business for so long, and yet that’s all they ever do – dream.
You know who I’m talking about. These people attend conferences, sign up for free webinars, buy paid training, and even work with a coach or two. But, sadly weeks, months, years pass and they never progress towards achieving their dreams.
You might think they are lazy, but the reality is they’re not. It’s something even worse. They get stuck on the dreaming part and never translated it into a workable plan.
Begin With the Long-Term
You may have been asked in a job interview about where you want to be five years in the future. This may have seemed odd. But, this is a very integral consideration for a business owner.
It will be impossible to make a map of your destination when you don’t even know where you’re headed in the first place. Knowing your destination makes it easy for you to monitor your progress at any given time to ensure that you are still on the right track.
With an idea of your ultimate destination, it will be easy to plan how to get there and create interim goals that guide you in the right direction.
Think about this: you may set a goal that in five years you want to travel for 8 weeks every year. So, for you to achieve this, you will need things in place that will make this happen:
Enough income to cover travel costs
Passive income to sustain your business while you’re not working
A reliable staff who manages the business while you’re away
Armed with this list, you can now work backward from your five-year goal and create milestones. If you need to earn $150,000 a year to fund your travel goals, but right now you’re earning $60,000, then logical milestones may be set like:
Year 1: $70,000
Year 2: $85,000
Year 3: $105,000
Year 4: $125,000
Year 5: $150,000
These milestones will make it easier for you to figure out exactly what you need to do to achieve them and set daily, weekly, and monthly goals accordingly.
Create Manageable Goals
Telling someone that you need to increase your earnings from $60,000 to $150,000 in five years may seem overwhelming. Just looking at a $90,000 increase will make most people dismiss it as impossible.
However, breaking it down into manageable, smaller steps, minimizes its impact making it less daunting.For the first year, you are projecting an increase of just $10,000. If you look at it on a monthly basis, it’s only less than $1000. See, that doesn’t look so difficult.It becomes even less when you break it down to just $250 per week. Think of it this way: selling one more group coaching package, or five more of a $50 training program puts you at the top.All you have to do is send one more email to your list, invest an additional $20 per month in Facebook ads, or reach out to one more JV partner. It is so much easier to reach smaller, manageable goals than focusing on that five-year plan.Consider your dream. Think about how to deconstruct it into achievable milestones, manageable goals, and finally, daily and weekly tasks. When you do this, then you can be sure that you can achieve anything both in business and in life.