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How to get your net profits to soar and your working week to shrink...

Nigel Bennett

Managing Director
 

Think about what you would really like to achieve in life and in business...

We all have different aspirations but how we achieve them is the same – with a plan. Setting your goals is the first step to achieving them.

So, where do you start?

Set out the broad areas in your life which are important to you – family, friends, health, business/career, hobbies etc., and record the percentage of time you wish you were spending on this area of your life compared with the actual time you are spending. The gap will suggest where you need to make changes in your life.

Then do the same thing for your business and record the percentage of time your management team wish they were spending on business management, people management, winning new customers, strategy development etc. compared to the actual time they are spending.

Next…

You need to consider why you want to achieve your goals. What is the pain if you fail or the gain if you succeed?

The why is important because it is what motivates you. This could be the pain that you will experience if you don’t achieve your goal – ill health, debt, unhappiness – or the gain if you do – money, recognition, happiness. Generally the pain motivates you to get started and the gain motivates you to keep going!

How many goals should you have?

As a guide, aim for around six. You should ensure that these are SMART goals…

S – Specific:

       ‘Retire with £750,000’ rather than ‘Retire with a lot of money’.

M – Measurable:

       ‘Help all of my children to get a degree’ instead of ‘Good education’.

A – Awesome:

       It should fill you with excitement and inspiration; otherwise you won’t see it through.

R – Realistic:

       Challenging goals are great, but don’t stray into cloud cuckoo land!

T – Timed:

       ‘Retire by 2020’ instead of ‘Retire eventually’.

How are you going to achieve your goals?

Having decided what your main goals are, what processes do you have in place to ensure you achieve them? Measuring what is important to your business on a regular basis is one of the most important things you will do to help achieve your goals successfully. Hallidays One Page Plan which gives you a monthly snapshot of your business can help you to do this.

It’s vitally important that you regularly review and update these goals. But remember, they are not written in stone. You will change and so will your goals!

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