Set business goals that serve as a North Star rather than a pair of handcuffs

Wait… what? 

Anyone telling you to throw out your 10-year plan is full of bull.

Going rudderless is a great way to end up 10 years down the road trying to figure out what you want to do with your business… if you still have a business.

Long-range goals provide a north star to help guide and focus your efforts on what is important so you don’t wind up taking a scattershot approach to planning – an approach that can send you bouncing from task to task without developing any forward momentum. 

Don’t get stuck on the word, goal

If you’re hung up on the word goal because you’ve heard a goal should be SMART – specific, measurable, achievable, realistic, and timely – you can use words like aspiration or intention.

Avoid getting stuck on semantics or rules that more commonly apply to short-term goals. 

Long-range goals don’t limit you

If you find you’re resistant to setting long-range goals because you fear it pins you down and prevents you from doing other things, just remember… You’re not bound to a long-range goal for life. 

Long-range goals, plans, or strategies are meant to be revisited and adapted to changes in your wants and desires, the current economy, changes in technology, and any other factors that affect your ability to accomplish your goals.

Adapt or die

What is it biologists say about evolution? Adapt or die.

The same goes for the evolution of your business and your business goals. Adapt or die.

And for your long-range goals to be adaptable, you don’t set every project and task for the next ten years on a calendar or timeline.

I’ve worked with entrepreneurs setting goals for almost 10 years. 

Here’s a brief and simplified rundown of the process I follow:

1. Review what you want in life and from your business – Getting in touch with your innermost desires will likely take a good bit of time if you haven’t been through this process before. You have to be honest about what you truly want out of life and you have to be honest about what you can achieve in ten years.

   Do: Be honest with yourself

   Don’t: List goals that won’t motivate you to push through tough times just to get through this exercise 

2. Use information from your personal review to set three goals – These goals are based on what you want to accomplish in the next 10 years – a financial goal, a business goal, a personal goal.

   Do: Be realistic

   Don’t: Bank on miracles, winning the lottery, being left an inheritance, or getting plucked out of obscurity by a generous benefactor 

3. Use knowledge of past performance to determine five-year goals – Your five-year goals should align with your 10-year goals and help make them achievable. Five-year goals serve as a reality check for your 10-year goals and a mile marker for your one-year goals. 

   Do: Make five-year goals more specific than your 10-year goals 

   Don’t: Map five-year goals out into a step-by-step process. Save that for short-term goals

4. Create specific one-year goals based on your five-year goals, current business offers, time available, size of your CRM/marketing list, and all other factors that might affect your ability to accomplish your goals.

   Do: Take into consideration the time you have available to give to your business and personal goals.

   Don’t: Include fluff or filler tasks that won’t help move you toward your long-range goals. Distractions are already everywhere, you don’t need to add them to your to-do list.

If you’re new to setting goals or creating a strategic plan, you may find following one methodology doesn’t work perfectly for you. 

You may find you do better with high level task lists because super detailed lists can be overwhelming.

Or, you may find you need goals broken down into detailed steps with each task or step included on your to-do list.

Don’t give up if your first attempt at setting goals doesn’t yield results. Keep trying until you find the process that works for you.