It’s goal-setting time – time to set goals for the coming year ahead. Although you may not have put pen to paper (or fingers to keyboard or smartphone) to write them out officially, you’re likely thinking about them and what you wish to accomplish in the year ahead.

Although some of you may have the process of goal setting down, many of you may be stuck on where to start. Sure, you know you should set goals; however, you may be getting bogged down in the specifics. What percentage should you aim to boost your profits to? How many people should you add to your network in the year ahead? What’s the perfect number to aspire to for total business and profits?

All of these questions are unique to each business owner and entrepreneur. However, it’s often tough to remember that as we build our businesses. After all, we want to keep up with the top producers in our field, but it’s impossible to replicate success exactly. However, if you set goals that are right for you and your business, you can be sure you’ll be on the road to success. 

5 success tips for better goal setting

There’s no magic formula for goal setting. However, with these tips in mind, you’ll be able to craft goals that you’re excited to achieve.

Be ambitious

Now is the time to think about what you really want out of your business and life. Perhaps you’ve been in the business for a year or less and you’re just getting into your own personal groove. Or, maybe you’ve been doing this for a few years and you feel as if you’ve hit a rut and want something more (you may not be able to put your finger on it – you just know that you want more out of your business). This is when you have to get ambitious.

Take some time to visualize what you want your life to look like. Close your eyes and focus on what you see when you picture your life in five years. Where are you? What have you achieved? What is your family doing? What have you achieved? Have you received a major award or are taking a trip to help others in an impoverished place? Take notes about everything you see, feel, and experience. 

If you feel silly, remember this – it’s impossible to achieve something you can’t see in your mind’s eye. So close your eyes, clear your mind and think about what you want to achieve in your life and business. This will give you a guideline to follow as you set your goals. 

Success Tip: What do you want to achieve in 2020? Close your eyes and imagine the life you want to lead.

Reconnect with your Why

It’s so easy to forget WHY we’re in this industry, especially when we get busy. Whether things are going great or not as planned, it always helps to reconnect with the overarching reason we got into business for ourselves in the first place. 

We’re focused on finding your Why. We really stress the importance of it because it’s so powerful and can truly get you through when you’re feeling uninspired, unmotivated, and frustrated when life throws one too many challenges in your direction that you feel comfortable with. Having a Why and keeping it where you can see it regularly helps you stay on track to make your dreams a reality.

It also helps you shape the goals you need to make now in order to make your ultimate dreams to come true. You’re able to prioritize what’s important in life – what you need to do versus what’s not important and not worth the stress. It provides so much perspective, especially during stressful times when the less important things are demanding all of your time and attention. 

If you wrote your Why down, pull it out and reflect on it for a bit. If it’s best represented in a photo, display it where you can see it. Although you should visit your Why often, it’s important to remember it when you’re outlining your goals for the year. 

Success Tip: What’s your Why? Take a few minutes to find it. It’ll guide you through your year. 

What is your BHAG?

No, a BHAG isn’t the latest trendy handbag; it stands for Big Hairy Audacious Goal. Coined by Jim Collins in his book, Built to Last, it’s a goal so big that when you achieve it, it’ll change your life. It’s that one goal that pops into your brain and you think, “That would be fantastic!” It’s something that may be just out of your grasp right now; however, it’s something you may be able to totally achieve in time. 

To find your BHAG, answer this question:

 In a perfect world, with no limitations placed on you or by you, what do you want to achieve?

Spend some time tossing this idea around in your mind. So many of us place limits on ourselves, often without even knowing it. We say, “It would be so nice if…” but then that little voice in our heads starts in with all the reasons why it’s not possible – not enough time or money, don’t have the skills or resources, etc. In the end, we end up talking ourselves out of it and thinking we were so silly to think we could do it in the first place. A BHAG restores our own faith in ourselves and our abilities. It gives us something to look forward to and focus on. So, what’s your BHAG? Tale some time to figure it out before moving to the next step. 

Success Tip: BHAGs are big goals that you’re motivated to achieve. What’s your BHAG?

Review your previous goals for 2020 goal setting

Although we advise that you review your goals throughout the year, now is the best time to look in-depth at your 2019 goals. How did you do? Did you achieve them easily or fall short of expectations? 

It’s not enough to just read the goal and say, “Yeah, I achieved that” or “Oops, fell short on that one.” It’s critical to review it in-depth. Then, before you get into goal setting, ask yourself:

• What went right?
• What were your keys to success?
• Where did you fall short and why?
• If you were to do it again, what would you do differently?
• What are your biggest areas of improvement?

As you’re answering these questions, be honest. There is always room for improvement. The lessons you’ve learned over the past year in the process of achieving your goals can help you achieve the next goals you set.

Success Tip: Take some time to answer the questions above. They’ll help you set great goals for 2020.

Review your business numbers and find areas of improvement

Review your business numbers and assess where you want to improve. If you’re not sure where to start, log in to Teamzy to see your goal progress over the last year as well as the numbers you posted. Are these numbers on par with what you expected to see or are they off the mark? 

Now, you’ll use these numbers to set new goals for 2020. For example, if you increased your network by five connections a month this year, see if you can bump that number up to 7 or 10 in the year ahead. Or, if you increased your profit by 5% in 2019, set a goal to increase it by 10% in 2020. 

When you’re setting these goals, it’s crucial to be ambitious, but also realistic. The numbers you set should be challenging, but not impossible given your situation and skillset. For example, it may be aspirational to increase your sales by 25% in 2020, but not necessarily realistic if you’ve only increased sales by 5% for the last few years. That 25% may be something to build to over the long-term; however, for now, shoot for 10%. Once you’ve hit 10% then increase it by 5% until you reach 25%. 

Success Tip: Use your numbers to help you create specific goals to reach this year. 

Teamzy can help you with goal setting for 2020

If you’re not sure where to start, just refer to your Teamzy dashboard. There you’ll have quick access to all of your numbers for the year. Review your numbers and your past goals to create new goals you’re excited to achieve in 2020. It’s as simple as that!

Although the new year is right around the corner, don’t wait until January to set your goals. By setting them now, you’ll be able to get a good start on the new year before you even turn the calendar page.