218 - Why setting goals is so important

Business Legal Lifecycle Podcast

Everyone always tells you to set goals for your business. That’s an easy thing to say. But actually doing it can be much harder. It’s easy to come up with generic goals like being “successful”. But it’s critically important to develop well thought-out, detailed goals, along with the steps needed to achieve them. A Grand Vision There's many different ways to be right here. But one of the things every plan needs is a big vision. What do you want to achieve in the next 10 years? What about the next 3 years? Or in the next 12 months? Under each of those questions begin to map out the steps needed to attain those goals. Starting with a grand vision will help to focus your more short term goals. Key Performance Indicators You've probably heard the term key performance indicators. KPIs are the metrics you use to gauge your success. After you select your long, medium and short term goals - decide how to measure whether or not you’ve actually achieved them. It's so great to set these goals, but you need to have some way of actually tracking your progress to make sure that you actually achieve these goals. Keep track There are several ways to keep track of your progress. Some people like using spreadsheets. But you can also use calendars or checklists to ensure you’re doing everything possible to achieve your goals.