As an entrepreneur you want business success. As a coach, it can be difficult to watch the lack of progress of so many promising entrepreneurs. You’ve dreamed for so long about creating a solid, sustainable business, and yet, all you do is dream. The challenge for you is to bridge the gap between your dream and making that your reality.
Are you one of the people I’m talking about? You attend conferences, sign up for free webinars, buy paid training, and sometimes even work with a coach or two. And yet week after week, month after month, year after year, you fail to make any progress toward your dreams.
Are you just lazy? No! Definitely not. It’s something worse. You don’t know how to move from a dream to a plan and you’re stuck.
Start With your Long-Term goals for business success
If you’ve ever been on a job interview and been asked, “Where do you want to be five years from now,” you might have thought it an odd question. But as a business owner, that might just be the most important consideration you can have.
Before you can draft a plan to reach your goal, it’s essential to pinpoint exactly what that goal is. That way, on any given day or week, you can check in and make sure the actions you’re taking are leading towards the same desired outcome. Identifying your end goal should be your priority if lasting success is what you want.
When you have figured out your ultimate goal, devise an approach to get there and build short-term ambitions that will keep you heading in the right direction.
For example, to accomplish your goal of taking 8-week trips each year for five years, you’ll need to have a few components set up beforehand:
- Enough income to cover travel costs
- Passive income to sustain your business while you’re not working
- A staff who can manage the business while you’re away
Utilise this list to reverse engineer your five-year goal, and make smaller goals along the way. For instance, if you need to bring in $150,000 each year for that getaway of yours but currently earn only $60K annually, setting up achievable milestones may look like this:
- Year 1: $70,000
- Year 2: $85,000
- Year 3: $105,000
- Year 4: $125,000
- Year 5: $150,000
With these milestones in place, it’s much easier to figure out exactly what you need to do to achieve them, by setting monthly, weekly, and daily goals.
Create Small Goals
Trying to move from a yearly salary of $60,000 to an impressive $150,000 in only five years can seem like an insurmountable goal. That’s nearly a daunting increase of ninety thousand dollars! Yet it doesn’t have to be so intimidating; with the right plan and dedication, you can absolutely accomplish this feat.
Once you break down the task into more manageable chunks, it won’t appear as intimidating.
In the initial year of this scheme, you just need to raise your income by $10,000 – that comes down to less than a thousand dollars per month. That’s an easily achievable goal.
You can make your goal of $1000 per month less daunting by breaking it down to just $250 per week. Boosting sales of a service package or five more low-ticket items at $50 each will get you well on your way to reaching that milestone.
Achieving a smaller goal such as sending one more email to your list, investing an additional $20 per month in Facebook ads or connecting with another Joint Venture partner is much easier than aiming for that five-year plan. So focus on the here and now to be successful.
Your strengths can determine your business success
Identify your strengths and weaknesses as a business owner. This will help you to leverage your strengths and work on your weaknesses. Consider working with a coach or mentor to develop new skills and overcome any obstacles.
Success in business is not a given, but leaning into your strengths will make the journey much for fulfilling.
Additionally, be honest with yourself about your capacity and make sure to limit distractions to stay focused on the projects that matter most. You can make massive leaps forward once you know how to prioritise your time and energy correctly. Lastly, surround yourself with people who inspire you and have a growth mindset so that you always remain motivated.
Plan for success in business
Develop a comprehensive business plan that outlines your vision, goals, target market, marketing strategies, financial projections, and operational plan. This will serve as a roadmap for your business and help you to stay focused on your goals.
To reach your goals, maintain consistency in your actions. Start by addressing the most essential tasks to prioritise your time and resources, as well as remaining devoted to your vision. Don’t be hesitant to modify tactics if necessary for maximum efficiency.
Think of it like this: Your goals are the destination, and your actions are the vehicle. Without consistent progress in small steps, you will never reach your desired outcome. Use a system that works for you to stay on track and make sure every step is taking you closer to where you want to be.
Don’t forget to have fun along the way – enjoying the process (and celebrating successes) provides extra motivation. Remember, consistency is key when it comes to achieving your goals.
Sometimes you just can’t see the solutions you need, the answers you seek, or just a way to break through the stagnation. Ask for feedback from customers, employees, and other stakeholders. Listen to their concerns and suggestions, and use that feedback to improve your business. It is important to try and remove yourself somewhat from this feedback. You cannot take things personally. This is business.
Seek out mentorship and support: Find a mentor or seek out support from others who have been through similar struggles. They can provide valuable guidance, advice, and support as you work to bridge the gap and get ahead.
Having a coach is the best way to face what is stopping you. You may have worked with a coach before and not seen results. The relationship with your coach and your willingness to be open and vulnerable both impact the success you will have. You need a coach that has the right mix of experience in business and coaching ability. The coach you choose to work with must be someone you trust so that you can be open and allow the coach to help you get to the root cause of your challenges.
Sometimes you need to take a step back from your problem and get that bird’s eye view. This broader view can allow you to see small details that disappear into the tapestry when viewed close up. Is it a lack of resources, skills, or knowledge? Is there a specific obstacle holding you back? Once you know the cause, you can start to develop a plan to address it.
Focus on what you can control
There may be things outside of your control that contribute to your struggle. Instead of focusing on those things, focus on what you can control. This might include your skills and abilities, your work ethic, or your ability to learn and grow.
Learn from your failures: Failure is a natural part of the learning process. Instead of getting discouraged by failure, use it as an opportunity to learn and grow. Analyse what went wrong, and use that knowledge to make improvements going forward.
It is essential to acknowledge the importance of flexibility and adaptability in your plan, as well as monitor your progress and make necessary changes.
When it comes to creating and executing a successful plan, I believe the key is flexibility and adaptability. Life and business are ever-changing, so if you want your plans to be successful, you need to be prepared for anything that may come up. That means staying open to making adjustments as needed and keeping an eye on progress towards your desired outcome.
The most successful plans take into account the potential for curveballs, contingencies, and unexpected results. Put yourself in a position where no matter what changes or happens, you have something in place that enables you to adjust your course of action accordingly. Being flexible will help ensure that every setback can be quickly addressed before it causes any serious damage.
At the same time, it’s important to track your progress so that you can make sure you are on the right path. Set smaller goals for yourself along the way and use those milestones to measure how well your plan is working. That way, if something isn’t going as planned, you can quickly identify the problem and make the necessary adjustments – rather than waiting until it’s too late.
Bottom line: flexibility and adaptability are essential for any successful plan. Be prepared for anything, keep a close eye on progress, and be ready to adjust accordingly when needed. Those who embrace this approach will find themselves far better positioned to achieve their desired outcomes.