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The Importance of Setting Goals in Business

When I first started my soap business, I didn’t set goals. Honestly, I didn’t even think about it, and even if I had, I didn’t really know how to set effective goals back then.

I also did not understand the difference between a goal and an effective goal.

Honestly, I was just having fun at that point, and was happy to sell anything.

By year two, though, things started to change. I was selling enough that I could see the potential, and began to dream about building a larger, more lucrative company.

I dreamt about leaving the corporate world behind and running my own company.

BUT – I still lacked belief in what was possible. I was scared to dream about something that felt out of reach.

I was scared to dream about something that I had no idea how to build.

I did not understand the importance of mentorship and environment in establishing those beliefs, but that is a big topic I will save for another post.

OK – back to goals. The first two years, I did not set goals and simply had the attitude that I would just see what happened. I did not understand at that point that goals are the basis of a plan.

Without goals, you can’t create a plan. Without a plan, your odds of building something impressive is small, or non-existent.

The path to building a business that changes your life, whether it is financial or some other change, requires a plan.

And plans are defined based on goals.

For example, if you want to do something noteworthy, like drive across the country, it would be silly to just get in the car and start driving. The odds of getting all the way across the country (let’s say Seattle) from a place on other side of country (like Atlanta) without a plan is 0.0001%.

However, if you had a map, and a charted route (aka Google Maps), your odds of getting there would be massively higher, right?

With business, goals are KEY. They tell your mind where you want to go.

Lots of business owners that I speak with understand this.

No surprise, it makes sense and is logical.

However, there is another part of goal setting that people don’t understand as clearly.

The power of setting BIG goals.

There is a temptation to set small goals, just to prove that you can set a goal and reach it.

There is a temptation to be “realistic” and not set goals that feel impossible.

The problem with this approach is that you lose a MAJOR power of goal setting.

The push.

The reach.

The forced departure from comfort zone.

Here is an example. Let’s say you have a hobby biz that you really want to grow, and you are selling $500 a month. If you set a goal of $600 a month, you likely don’t have to change what you are doing all that much. You could make a few small tweeks and get to $600.

HOWEVER, if you instead set the goal os $10,000 a month, you would need to push yourself. You would likely need to find new sales channels, improve your marketing, sales skills and streamline production.

The big goal forces you to level up.

To become a different version of yourself as a product maker and a business owner.

To stop making excuses about the stuff you are scared to do, and get to it.

I have learned over and over since I started setting goals, that the truly amazing part of running a business is becoming a better version of myself.

More skilled, more confident, more generous, more influential.

And if I only set safe goals that felt easy to reach, I wouldn’t have to change.

Something to think about as your plan your goals for 2020.

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