Use These 5 Steps to Reach Your Business Goals

Have you set goals and resolutions for your business for 2021? I sure hope you did because setting and achieving goals are very important for your business. So let me ask you this. How are your goals and resolutions progressing? Are you on target to achieving them, or Maybe you have already given up on some of them? Here are five steps that you can take to enable you and ensure you to achieve your business goals in 2021.

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So, as we start the beginning of the year you, Just like every other entrepreneur and business owner out. There have set goals and new year resolutions for your business.

So how is that progression? Tell us what are some of the goals and the resolution that you have set for your business.. We would love to hear from you Now in a survey by US news. The survey tells us that by this time of the year early March, late February, 80 % of the new year resolutions with a goal set at the very beginning of the year, falls by the wayside. That's, 80 % of new year resolutions and goals Gone forever.

People give up, that is rough. Nevertheless, there is hope. You know in my many years of working with clients and also just through my own Entrepreneurship journey. I've learned that there are a few things that you can do to really make sure That you are on track to achieve your goals.

So right now I'm, going to share with you five steps that you can take to ensure you achieve your goals. Step number one create clear and concise goals. What does that mean? You ask? Well, it means that don't think about your goals that you made for your business as a level that you need to attain, or it's a place where you need to be.

Instead, you should think of the business goals that you set as a target: a Bull's-eye, something that's very clear and very concise that you know exactly where it needs to be So don't, say something like Or set a goal like, I want to grow my business by 20 %, 20 % of what? What does that mean? Is that 20 % increase of market share? Is that 20 % increase of revenue? Is that 20 % more likes on your Instagram post? What is 20 % Right?

That is very unclear. It is very difficult to focus and Do the things that you need to do when the goal is unclear, like girl., Bye, 20 %, So say something like this instead.. I want to grow our net income by 2022 by 20 % when compared to 2020.

Now that it's clear, you have one metric that you are measuring, That is our net income and you have a time frame. You have one year, the year 2021, to accomplish this goal, and you have something to compare to you: have your 2022 net income versus your 2020 net income? Now you know exactly Where you need to be.

Now your goal is a bull's-eye. That's a target, so you can actually focus and get to it So as entrepreneurs and business owner Setting clear and concise business goals for your business is your first step towards successful year.

Step number two: take small, the measurable steps Towards your goal. So once you have your business goals concisely and clearly set try and not to take and plan for activities to Accomplish that goal in one shot, and the reason is, is when you try to do that in one shot, You're, probably not going To get it right, the first time, and maybe not even the second time.

Where the third time, if that happens, thus courage, Minh sets in and you're more likely to give up. Then, if you take Smaller but definite steps towards that goal. So the idea is that, on a regular basis, whether that's daily, weekly or monthly, You want to take steps towards that goal.

You want to plan activity towards that goal that you have set one step at a time in sequence, in order, so let's use the example that we talked about in step number one, and that is, I want to increase my annual net income For 2021 by 20 percent when compared to 2020, so let's just say my 2021 net income was three hundred thousand dollars.

You know pick a number Whether that's too little too big for you. It doesn't. Matter. It's. It's just an illustration. So if I want to increase that by 20 % for 2021, That means I will need to get to three hundred and sixty thousand dollars of net income for 2022.

That is a sixty thousand dollar increase in the net income for the year 2022, so sixty thousand dollars. It depends on obviously your size of business, where your business is that it is not a small number, It is not being significant.

So how do you get to an increase of sixty thousand dollars of net income For 2021 or the idea of taking smaller but definite and measurable steps? Is this right break that down into monthly, so sixty thousand dollars divided by twelve, that every month you have to increase your net income bite about $ 5,000? So now that thing's, much more doable than Trying to get sixty thousand dollars of net income, all at one shot.

So, Now the idea is you, take steps and find things that you need to do to increase only $ 5,000 a month in that income Or even better, if you can break it down into a weekly basis and let's just say that it's four weeks in a month every week, All you need to do is increase your net income by one thousand two hundred and fifty dollars again.

That seems much more doable than trying to find things to do. To increase your net income by sixty thousand dollars all in one shot, So what's, probably even more important of Taking small but definite and measurable steps towards your goal? Is that psychologically? You actually know that you're taking step.

You're marching towards that goal, Because when you're working on something that's really big and trying to get that sixty thousand dollars all at one shot., The things gets complicated. So now, with smaller steps.

You know you're marching towards that goal and secondly, when you take those steps - and you reach the 1250 dollars of net income for the week or 5,000 dollars for the month, you can celebrate those wins and you can celebrate it twelve times Right.

Instead of that, First 12 months or that whole twelve months, where in trying to figure out whether you can hit the sixty thousand dollars of net income, this way you'll, be encouraged every step of the way and it's.

More likely that you will not give up and continue in pursuit of your business goals and business resolution and step number three is to analyze your data in the now that you have set your goals precisely and concisely: Clear and concise goals, and you got taken small, But definite and measurable steps towards those goals.

You need to analyze your data Consistently regularly and yes, I do mean the numbers. Sometimes entrepreneurs or business owners Do not like or do not want to analyze their numbers, But I have to tell you the numbers: don't lie.

They will tell you exactly how you're doing, And they will also tell you whether you're likely to achieve your goals or not So let's. Take a look at our example again about increasing our yearly net income.

So, every month you really have to dig into your numbers and look at whether your revenue is going up, And also you have to look at whether your expenses are going down Right, because the only way your net income Increases is if your revenue is going up Or Your expenses are going down Or both are happening Without looking at the numbers, you will never know Without looking at the numbers You don't know whether the activities that you're doing the promotions that you're.

Doing is actually working, So it is only by going through your numbers, where you know Whether your cost-cutting activities are working or your promotion to increase your revenue is working Without going through a number you wouldn't, be able to know what to do.

Next So make the numbers your friend Analyze it go through. It know, them. So make sure you analyze your numbers or data, Because it is through the numbers. You will know whether your cost-cutting Initiatives are working or whether your promotion to increase your revenue is working Without that you wouldn't know how to take the next step, a friendly reminder.

Don't, wait at the end of the month to analyze their data Analyze and know your numbers throughout the month, get in a habit of Analyzing your data, so that you know how you're trending, Because without it, when it comes To the end of the month or end of the quarter, it is too late step number four adjust and fine-tune So based on the analysis based on the numbers that you see from step number three.

You will probably have to make some adjustments to the things that you're doing, so we entrepreneurs and business owners sometimes think that our ideas, the thing that we're implementing, are always the best and We may not be so Inclined To make changes or make adjustments.

However, Experience tells us, and I 've, worked with many clients before that. This Entrepreneurship journey this this is running journey really at some point or another. It's a little bit of a trial and error.

You do have to try something and if you make a mistake Or if you see is not getting you the results that you're, looking for., We need to make adjustments. We need to make Fine-tuning so that we can continue going forward Towards that goal that we have said earlier.

So in the case of us trying to increase 20 % of our net income for the year. If the number is not showing you that you're, not reaching, let's, say the 1250 additional net income for the week., What a $ 5000 net additional net income for the month.

Maybe there are some things that we need to adjust.. Maybe there are some things that we need to change. Maybe it is spending a little bit more on marketing a little bit more on Appropriate promotions to get the sales revenue up or it may be, spending less on non-essential expenses that are not directly producing you revenue or maybe it is fine-tuning a message or ad or Promotion that you're running, whether that's on Facebook and this program or whatever you're doing you're advertising, or it could be another Product that you need to promote a different service that you Need to offer something That's a little bit different than what you're doing right now, so we can see whether that makes any changes or not whether those changes that you make.

The adjustment that you make are helping you to increase your revenue and Decreasing your expenses, because remember if you want increased net income or net profit, Your revenue has to go up and your expenses have to go down and you just have to make the adjustment and The fine tuning to see that happening - and please remember Hope, is not a strategy just because You has one in place and you're, hoping that it will work.

That is not a business strategy and it's. Not a tactic that you should be taking., You should definitely make adjustments, Fine-tuning the strategy and the practical things that you're doing and see. If the results are different.

Some entrepreneurs love Analyzing, the penalize they delve into the number, But they won't make any decisions.. They would just analyze analyze analyze. Other entrepreneurs Hate the numbers.. They don't like the numbers.

They don't want to see the numbers. They don't want to analyze the numbers. So my suggestion to you, it might advice to you - is this Analyze, but don't analyze it to death. When you think you have enough information, Take action, Make an adjustment Make some fine-tuning so that your activities will be trending the right way.

So now we come to our last step. Step number five step. Number five is Repeat the process. You have to think about achieving your goals, business goals or goals in life as a process. It is not a one-time thing, so in step number four, once you have made the adjustments to Fine-tuning, that is like again your step number two, where you're, taking small, Immeasurable steps towards your goal right, You're, making that a Small adjustment, You're, making them fine-tuning towards your goal.

You're, trying something else so that you're, taking that next step next little step a measurable step, the fine-tuning Towards your goal again, and once you do that Don't forget to go to step number three or You have to continue to analyze your data, Look at the numbers and then step number four again to see if you need to make any more Adjustments or fine-tuning, and then you know what you got ta repeat the steps again repeat the process.

I'm sure you have heard people say that Entrepreneurship is a marathon.. It's, not a sprint. Well, that analogy is correct.. Let's, learn from the marathon runners Throughout their race. The marathon runners make changes.

They make adjustments. If they're going up a hill, they may be running a little slowly or slower to conserve their energy. They're, going down a steep slope.. Maybe they run a little faster, but they have to control their steps.

Sometimes they sprint, they want to run a little faster, Sometimes they slow down and to conserve their energy. Well, when it's time to almost reaching that very end of the race, they run fast, a sprint Right.

So if we really take heart to that analogy, We're running our bias. Our businesses and entrepreneurship is Like a marathon and let's. Learn from the marathon runners.. Let's, make sure we make those adjustments Make those fine-tuning and we repeat that process throughout this entire race, And I hope these five steps have given you some inspiration. I know that will help you to achieve your business goals in 2021.

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