BOOK A CALL
Don't Make This Huge Mistake with Goal Setting

Don't Make This Huge Mistake with Goal Setting

podcast scale -impactful insights Sep 27, 2024

Click to watch on YouTube

In a recent episode of "Keep What You Earn," Shannon shared valuable insights on avoiding common pitfalls in goal setting. If you're an entrepreneur struggling with this process, Shannon's advice can help guide you toward success.

One key takeaway from Shannon's discussion was the importance of starting the goal-setting process early, ideally in Q4 of the previous year, around September and October. This timing allows for clear thinking and avoids the stress that comes with the busy year-end and holiday season. Shannon noted that rushing into goal-setting in January often leaves business owners feeling behind by February.

Shannon also highlighted a significant mistake she made in the past: over-measuring. As a numbers person, she initially set measurable goals for everything, including tasks that couldn't be easily quantified. For instance, she tracked the number of automated processes each month. This approach added unnecessary stress and often resulted in irrelevant goals.

Another enlightening point was the importance of celebrating milestones. Shannon's team was so focused on monthly metrics that they missed recognizing significant achievements, like nearing half a million podcast downloads. By shifting their focus to celebrate these milestones, the team boosted morale and gained a clearer sense of direction.

Shannon's team corrected their previous mistakes by aligning goals with the company's mission and focusing on three pillars: acquisition, fulfillment, and operations. This method made their goals more actionable and mission-centric, with one to two key goals in each area.

Instead of rigid metrics, Shannon's team began using indicators to gauge success. For example, rather than quantifying responsiveness, they aimed for zero follow-up inquiries from clients. This approach kept the team agile and focused on the ultimate goal.

Involving the entire team in the goal-setting process was another critical lesson. Shannon found that when goals were imposed top-down, the team lacked connection and clarity. By collaborating on goal setting, the team became more invested and understood their contributions better.

Shannon's ultimate aim is to instill habits that no longer need strict oversight. She compares this to brushing teeth: once a behavior is habitual, you no longer need to keep score. Focusing on embedding these behaviors into daily routines helps the team operate more efficiently.

Finally, Shannon underscores the importance of celebrating achievements, whether it's anniversaries, milestone sales, or download counts. Recognizing and celebrating accomplishments fosters team spirit and maintains motivation.

Effective goal-setting involves more than just jotting down measurable targets. It requires understanding your mission, involving your team, celebrating milestones, and ensuring that goals are practical and connected to your broader vision. As Shannon's insights reveal, avoiding the pitfall of over-measuring and focusing on meaningful indicators and collective involvement can enhance your business planning and execution. Start early, involve your team, and remember to celebrate the journey.

What you'll hear in this episode:

04:37 Refocused goals around mission statements and pillars.
09:58 Identify and discuss indicators affecting goal achievement.
12:05 Track and celebrate team milestones and accomplishments.

If you like this episode, check out:

Don’t Stop Playing the Long Game

How to Set Goals and KPIs

Why You Should Tell Your Kids to Study Accounting

 

Want to learn more so you can earn more?

Try Kajabi free for 14 days here: https://app.kajabi.com/r/zGmoZA9E/t/tsfmvbq4

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

 

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.