5 Actionable Goal Setting Tips For Entrepreneurs

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Setting goals is one of the most important things that entrepreneurs can do to grow their business and increase their profits, but many people fail to set goals and focus on what they need to accomplish.

Goal setting doesn’t have to be complicated or difficult; it just needs a little attention and some consideration.

In this blog post, we will discuss 5 actionable goal setting tips for entrepreneurs like you!

Actionable Goal Setting Tips

1) Start With Small Achievable Goals

Goal setting is an ongoing process that requires constant monitoring and adjustment as your business grows over time.

When you first start out, it’s best not to overwhelm yourself by trying to achieve huge numbers right away.

Instead, create a list of smaller tasks that are attainable within the first 90 days.

As your business grows, you can set bigger goals to achieve in the next year.

For example, if you are just starting out and want to generate $50,000 per month in revenue within one year, start with monthly targets of around $4000/month for the first six months.

Once you reach that milestone goal on time or early, you can increase your monthly target to $5000/month.

If you are an advanced entrepreneur and want to generate around $100,000 per month in revenue within a year, then start with a smaller goal of generating around $8000/month for the first six months or so.

Once that’s achieved on time or early as well, increase your monthly target to $10000/month.

Don’t try to set goals that you’re unlikely to achieve and don’t go overboard with the numbers and timelines; instead, break it down into small achievable milestones for yourself along the way.

Goal Setting Tips

2) Make Sure The Goals Align With Your Business Plan

There’s no sense in setting goals that don’t align with your business plan; you might as well not set any at all!

Goal setting is all about achieving the things you want and need to accomplish, but if those targets are out of alignment or conflict with one another then it won’t be long before your business starts struggling.

To make sure your goals are aligned with your business plan, compare them to the milestones you want to accomplish in each of the four areas below.

Market:

What markets do you want to target?

How much revenue would be generated from those markets if they were all fully operational and generating the maximum possible income for your company?

Set goals that are similar to those numbers.

Product:

What products do you want to sell?

How much revenue would be generated from the sale of these items if they were all fully operational and generating maximum income for your company?

Set goals in line with those targets.

Operations:

How many people do you need onboard to keep your business running smoothly?

Goal setting is all about the numbers, so be sure to set goals that are in line with how many employees you have or plan on having.

Marketing:

How much marketing do you want to invest into your company each month/quarter/year?

Goal setting should reflect those targets as well since they are an important factor in making sure that your company is growing and you’re getting the most out of it.

Make sure each goal contributes to these four areas so that they can all work together towards a common mission; otherwise, things will start falling apart fairly quickly!

3) Write Down Your Goal List Somewhere Visible, Like on The Fridge or in Your Planner:

It’s easy to forget about your goals when you’re busy running a business.

Goal setting requires ongoing attention and regular maintenance, so write down a list of all the things that you want to accomplish in order to reach your company growth targets for this year or next month on some paper and stick it somewhere visible.

For example, if you want to generate $20,000/month in revenue within the next year, write down a list of all 12 monthly goals that you need to accomplish along with the numbers you expect them to get.

You can even colour-code each one based on whether or not they are completed or how close you are to completing them!

It doesn’t have to be a complex list, just something that you can look at regularly and get motivated by to keep going.

Goal setting is all about motivation; if it’s not motivating you toward reaching your goals then take another look at what you’ve created and make the appropriate changes!

4) Put Together an Accountability Team to Provide Support And Help Keep You Accountable:

Goal setting is also about taking action, so take that final step by putting together an accountability team to keep you on track.

Goal achieving becomes much easier when you have the support of others who are working towards similar goals and targets.

Think about people in your life who know what you’re capable of; they’ll be able to help provide feedback and advice when you need it most.

You can also think about professionals who are in the same or similar field or industry as yourself; you can do this by joining Facebook Groups or LinkedIn Groups as well as paid Masterminds!

These types of people understand what’s involved with setting and achieving goals and will be more than willing to help out.

Remember, the more people you have on your accountability team then the better!

Goal setting is all about taking action and encouraging others along with you; don’t be afraid to ask for some support when you need it most.

5) Track all of Your Progress so That You Can See How Close You Are to Achieving Those Goals:

Tracking progress keeps you motivated and encouraged which is important when you’re trying to achieve something big.

Goal setting doesn’t mean that there won’t be any setbacks; it just means that the end result will totally be worth it in the long run!

Keeping track of where you are along with all your goals can also help give insight into where you need to make adjustments or changes in order for them to be more achievable.

Goal setting is about being flexible and using your resources effectively so don’t get discouraged if progress isn’t moving as quickly as you had expected!

Writing down a list of goals, putting together an accountability team, regularly checking up on those goals through tracking all the information, and creating an action plan for how you’re going to achieve your goals are all great ways of setting yourself up for success when it comes to really diving deep into goal achieving.

Goal setting requires work, but once you start seeing the results then you’ll realize that the entire process has been worth every single minute!

Goals Are About Taking Action

Goal setting is all about taking action and making sure you have the support of others to help keep you accountable.

Goal achieving becomes much easier when you have the support of others who are working towards similar goals and targets.

Remember, goal setting requires work but once you start seeing results then it will be worth every minute!

There are a lot of things that can affect goal success:

  • How well you have defined the goal;
  • Goal commitment, follow through and consistency;
  • Clarity of expectations or standards that you are setting for yourself toward accomplishing your goals.

If you want to learn more about how to make sure your goals translate into real results take a look at our Courses at Step Up Boss Up Academy!

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