Goal setting is as important as sleep, water, and shelter.
Yet, many small business owners only think about how they want their business to grow.
However, your ideal customers can’t shop at your boutique if they don’t have your address or website. And you won’t understand the latest trends in marketing if you don’t perform the research. Plus it’s hard to scale your business if you don’t have a goal!
I’m often asked what’s the difference, if any, between a goal and a dream.
My answer is that a dream that becomes a goal will quickly become a nightmare if the proper action steps are not taken.
Now you’re probably thinking “Ugh!”. And I get it, getting started is the hardest part, especially when it comes to goal setting.
And since many small business owners don’t know how to start, they don’t even try to set goals. But in the wise words of Yoda, “Do or do not. There is no try!” Trying to set goals is equivalent to treading in 3 feet of water, and unless you’re 2 feet tall, what’s the point?
So, let’s make Yoda proud & get to the doing!
Establish Whether You Thrive in Frustration or Achievement
Before you set your goal, you must establish whether you thrive in frustration or achievement.
I’ve coached countless small business owners who thrive on flying by the seat of their pants, where frustration fuels their day. They’ve mastered firefighting, but the result may be a business structure that burns to the ground or is temporarily charred.
How many fires do they need to put out before either they or the business burn to the ground?
These firefighters focus all of their energy on getting through a day, often one minute at a time, and don’t take the time to focus on the future. They’re simply satisfied with ending the day in the black, even if it’s only by a single dollar.
On the other end of the spectrum is the small business owner who thrives on achievement. They’re laser-focused on where they are and where they want to grow. They’re fueled by their passion and desire to scale their business, but they often don’t know how to get started when it comes to setting a goal.
So, let me ask you, do you thrive in frustration or achievement?
Either way, this goal-setting formula is for you!
Determine Your Daily Golden Hour of Taking Massive Action Towards Your Goal
Let’s face it, as a small business owner your schedule probably looks like a ball of yarn that the cats have strung throughout the house. If you’re lucky, you can find the beginning, but the middle is full of twists and turns, there are probably a few knots tangled about, and the end is miles away.
And goal-setting can sometimes mimic that tangled-up ball of yarn.
But good news. There’s a simple solution to finding the beginning!
Photographers covet the golden hours of the day (aka the last hour before sunset and the first hour after sunrise) to provide them with the perfect lighting scenario to capture stunning photos. What this means for you is that you have a unique opportunity to define your golden hour (the hour that you’ll spend 5 days a week performing massive action) to set and achieve your goal.
So, whether you’re a morning or evening person, there’s a golden hour for you!
Goal Setting is Singular… Unless Goal Achievement Doesn’t Appeal to You
Many experts talk about goals in the plural. But studies suggest that only 8% of people actually achieve their goals.
Although that article doesn’t address it, I strongly contend that one of the main reasons 92% of goals are never achieved is because we’re trying to focus on too many goals at one time.
Goal setting alone causes anxiety. So what happens when you try to accomplish achieving 5 goals at one time? Just reading that sentence makes my heart pound. I can’t imagine trying to achieve 5 goals at once.
Instinctually, the word “trying” came out when I typed that last sentence. Hmmm, perhaps there is something to the psychology behind goal setting and what I’m sharing with you…
Let’s think about it this way – How many times have you set some really amazing goals, then became frustrated or ran out of energy and gave up? (If you’re like me, you don’t have enough fingers and toes to count them off).How many times have you set some really amazing goals, then became frustrated or ran out of energy and gave up? #pactgoals #businesscoachingforwomen #fempiremagazine Click To Tweet
In 2019, I found myself exploring options to scale my business amidst uncertainty and many global crises. I created vision boards, I set SMART goals (specific, measurable, attainable, realistic/relevant, time-bound). I obtained coaching. But still, my sleepless nights outnumbered restful ones. No bueno!!
One of my SMART goals looked like this:
SPECIFIC: Obtain 5 new coaching clients a month for 1 year.
MEASURABLE: Obtain 5 new coaching clients a month for 1 year.
ACHIEVABLE/ATTAINABLE: Yes (isn’t the answer always “yes”?)
REALISTIC/RELEVANT: Yes (isn’t the answer always “yes”?)
TIME BOUND: Obtain 5 new coaching clients a month for 1 year.
Can you relate?
I was on the hamster wheel of death without any action steps on how I was going to achieve my goal.
Then times this concept by three by adding more goals and it’s no wonder I accomplished nothing more than to hang a piece of paper on my office wall.
Then, as if by chance, something amazing happened! I discovered the PACT approach to goal setting.
PACT Goal Setting
As a goal-setting technique, PACT stands for PURPOSEFUL, ACTIONABLE, CONTINUOUS, AND TRACKABLE.
I recommend setting a goal that you can achieve within the next 90-365 days. Otherwise, can you imagine the daunting task of setting a goal that you want to achieve in the next 5 years? Are you REALLY ready to commit a golden hour every day for the next 5 years to achieve this goal?
I’ve learned that by achieving shorter-term goals, my longer-term goals naturally occur. For example, in 5 years’ time, I’d like to have high 6 figures in my bank account. By achieving my 2022, I’ll be well on my way to the success I’m working towards.
I’ve included my own PACT goal (on the right) as an example.
What do you think? Am I more likely to achieve my goal using the SMART or PACT approach to goal setting? I’m betting on PACT…
Let’s Take a Deep Dive into Establishing a PACT Approach Goal for You.
Purposeful: Get specific and answer: What are you passionate about? What’s your mission statement? What do you want to accomplish in the next 90 days? Six months? A year?
Actionable: Verbs, verbs & more verbs. What will you commit to doing for the next 90-365 days to achieve your goal?
Continuous: What golden hour appointment tasks will you put in your day planner or on your calendar to achieve your goal?
Trackable: What step-by-step verbs will move you towards goal achievement? What reward will you give yourself that will serve as motivation to keep your eye on the proverbial prize?
I added the reward portion to my goal because I believe that every goal that’s achieved should be celebrated & you deserve to be rewarded for a job well done!
Goal Setting takes Focus and Commitment
I’d be lying if I didn’t say there’ll be days when the inferno is so great that you’ll feel even sleep, water and shelter aren’t as important as fighting it. There’ll be days when you’re continually tripping over a tangled ball of yarn.
BUT it’s during your golden hour of that day that you keep your eye on the proverbial prize and laser focus on the tasks that’ll move you one step closer to goal achievement. It’s during those times you must ask yourself, “How bad do I want to achieve my goal?”
If your answer isn’t strong enough to eliminate distractions, stay focused, and work on the identified tasks during your golden hour, then you don’t desire your goal badly enough!
Laptops, phones, emails, all have do not disturb features – use them during your golden hour.
Place a do not disturb sign on your office door. Train your employees, children, and significant others to not disrupt you. Unless they need assistance from 9-1-1, they can wait 60 minutes! You get my point.
So let’s make Yoda proud, what are you going to do today to achieve your goal?
Did you like Angie’s article? Do you plan to use SMART Goals or PACT Goals in your business? Let us know in the comments.
And if you’d like a little help putting your goals together get in touch about working with a Fempire Certified Coach. You can find out more here.
Angie is a trailblazer who is passionate about empowering female entrepreneurs to attract their ideal customers and grow their businesses with techniques that won’t break the bank. With her background in social work, Angie knows how to quickly move you from self-doubt to confident businesswoman.