When I talk about running a successful business, I’m talking about setting long term business goals.
Long term business goals provide a clear vision and direction for your business. Without business goals you will find yourself reacting to day to day challenges instead of proactively planning for them. I like to look at long-term business goals as the things I want to accomplish over a year, 5 years or 10 years.
In this guide, I will share with you my secret sauce on how to make strong long-term business goals. If you are anything like me, you will want to grab your notebook and a pen because these tips are golden.
Long-Term Business Goals Planning
When I started my first business, I understood the importance of setting goals but the overwhelm that came with setting and accomplishing these goals was too much. So I created the 12-4-7-1 Goal Framework – it’s not just a formula and tool to use when creating your business goals, but it’s a game changer.
Using my formula will not only make the task of planning for your business’s success more manageable, but realistic.
Vision Board
Start by creating a physical vision board or digital vision board shows the long-term vision for your business. Where do you see yourself in a year? Your vision board should represent the ultimate achievements you aspire to reach.
12 Key Milestones
Take your vision board and dissect it into 12 specific milestones that will all individually contribute to reaching the long-term business goals you have set for yourself for the year.
4 Weekly Sub-Goals
Breakdown each of your 12 milestones into 4 sub-goals that you will assign to 1 week out of every month. Every sub-goal should contribute to reaching the goal you set for that month.
7 Daily Actionable Steps
For every sub-goal, break it down into 7 bite sized actionable steps you can take daily to reach your weeks goals.
1 Goal at a Time
Concentrate on one daily goal at a time. This formula prevents you from feeling overwhelmed and ensures that you give each goal you have set the attention and time it deserves to get accomplished.
Tips for Setting Long-Term Business Goals
Now that I have shared my secret sauce, you may be wondering how do you begin? These are a few tips to make sure your long-term business goals are as effective as they are ambitious:
Tip #1
RESEARCH, RESEARCH, RESEARCH – Do you homework first! Research market trends, understand your competition, and know your audience.
Tip #2
Be Practical – It’s great to aim high! I want that for you, but be reasonable and pay attention to what is actually achievable.
Tip #3
Pay Attention to the Data – We only make data-driven decisions around here. So set quantifiable goals that can be measured.
Tip #4
Set deadlines and stick to them – You don’t have forever so stop acting like you do. Assign a clear and reasonable timeline to each goal. They create a sense of urgency and help you stay on track.
FAQ: How Often Should I Review and Adjust My Long-Term Business Goals?
Short answer? As often as you feel necessary. However, it is good practice to review your long-term business goals at least once per month with this formula.
Are you on track to reach your long-term business goal for the year? Did you accomplish your goal for the month that contributes to your vision for the year?
Setting long-term business goals are more than a formula, they are a mindset shift. I encourage you to break down your ambitious long-term goals into daily manageable tasks.
If you need help, join our membership club where I hope you accountable, offer group coaching, personalized workbooks, strategy sessions and more.
Are you ready to set your long-term business goals? I would love to hear from you – share your long-term business goals or experiences with long-term business goals in the comments.
