Every study done over the past 30 years has shown goals are one of the biggest keys to success and wealth, yet so few people actually write them down.
In the book “What They Don’t Teach You in the Harvard Business School”, Mark McCormack tells a study conducted on students in the 1979 Harvard MBA program where graduate students were asked the question: “Have you set clear, written goals for your future and made plans to accomplish them?” The result, only 3% had written goals and plans, 13% had goals but they weren’t in writing and 84% had no goals at all. Ten years later, the same group was interviewed again and the results were shocking.
The 13% of the class who had goals, but did not write them down were earning twice the amount of the 84% who had no goals. The 3% who had written goals were earning, on average, ten times as much as the other 97% of the class combined!
Many times people don’t write down goals because they just don’t see the importance of them, but now that we know how important goals are I’ll give a simple example of what a goal sheet should look like:
2015 PERSONAL/BUSINESS GOALS
Before you start, know the golden rule of goal setting!
SPECIFIC
MEASUREABLE
ATTAINABLE
REALISTIC
TIME BOUND
BUSINESS GOALS – Whether you are the owner of a company, a manager or an up and coming rep it’s important to have things you want to achieve each year. Below is an example of a manager or owner writing out a business goal
– What I want to Achieve
1. x% growth in revenue over last year
– How am I going to Achieve it?
1. Raise up a new sales manager
2. Hire x additional entry level sales reps
3. Raise up x number of reps to senior level
4. Generate x% Leads by running a Referral campaign
5. Bring Back x% of lost clients via a new Win-Back Campaign
– What I want to Start
1. I need to inspire my people during weekly meetings with great training on self improvement and specific skill sets.
– What I want to Stop
1. Being negative when we don’t hit out goals (ie Get rid of specific words that are morale busters)
– What I want to Keep Doing
1. Raising up new leaders
2. Showing up to the office ahead of everyone else
PERSONAL GOALS – Work hard, play hard. It’s important to set attainable personal goals for the year as well
– What I want to Achieve
1. Get my pilot’s license
– How am I going to Achieve it?
1. Save up $x for it
2. Pick out a great school and take up x classes
3. Start reading flight manuals by x date so I can get through course quicker
4. Set a realistic training schedule
– What I want to Start
1. Reading and discussing at least one marriage and one parenting book a year
– What I want to Stop
1. Yelling and making threats
– What I want to Keep Doing
1. Encouraging my kids to the best they can be by utilizing a great point system for them and me
There are many ways to create written goals. In business we usually start by identifying where are are at, our key issues, key priorities, and then setting quantifiable goals, which we then flesh out by brainstorming strategies then tactics. As a small business owner, I encourage my team members to keep it simple! Remember, complexity is the enemy of execution. Write it down in a way you understand. Grab a notepad, or start writing in your note taking app. Just remember, no matter how simple you want to keep it, make sure your goals are measurable and not vague and open ended.
The keys to success are simple to do but many times hard to follow, so keep your eyes on the road ahead and not on your rear view mirror. It’s easy to get distracted and defeated by past failures but with written goals you will keep your eyes and mind on the future and not on the past.
By: Todd Marinshaw. Todd owns and operates a sportswear business based in Orlando, FL and recently founded iPrevail, a non-profit organization focused on relief and rehabilitation for victims of disasters such as Typhoon Haiyan
