How Correct Goal Setting Can Help You Make More Money For Your Business

Have you ever felt this way?

When you get out of bed in the morning your head feels like it weights a ton, and you are not able to think clearly.

If someone asked you to tell them your name and where you live, they wouldn`t have understood a single word.

You have been spending every second for the last days, perhaps weeks, even while you sleep, to think about solving an annoying question.

Just thinking about the question feels like an awful itch that can`t be scratched and won`t go away.

You know for sure, if you can`t find a good answer to the question quickly…

…the chance of you going insane is quite high.

What`s the question tormenting you?

How can you make more money for your business?

Calm down, I will help you answer that question before the people in the white coats will knock on your door.

A factor for success, that in my opinion often is unjustified underrated, is the art of correct goal setting.

Did you notice that I said CORRECT goal setting?

Yup, I did that on purpose.

Why?

Because it`s really important.

What`s even worse than not setting any goals at all, is to set and achieve the wrong goals.

That might actually be the make or break for your business` success.

Think of your business as a sailboat on the ocean.

You need to go from point A to B.

If you don`t set a goal, you don`t know where to navigate.

If you set and steer towards the wrong goal, you certainly won`t get to your desired destination.

So over to the one million dollar question…

How do you set correct goals?

As Mark Cuban says “sales cure all”.

There is a certain truth to that.

Take a look at the following scenarios:

Scenario 1: There is too much to do in your business

Answer: outsource if possible, hire a consultant if it’s a temporary situation, or go for permanent hiring.

Scenario 2: We haven`t been able to recruit the right people

Answer: you should start using other type of channels. Perhaps a headhunter agency can help, or you could do some PR-branding events that would generate a lot of positive publicity for your business.

Scenario 3: We don`t know where the money is disappearing

Answer: hire a really good consulting firm to review your company and follow the money trail.

I just gave you and handful of scenarios and a few answers. You could probably come up with a gazillion more scenarios and answers.

My point is that all the scenarios above has one thing in common.

What`s that?

They can all be solved by spending money on the right activities.

If you have a steady income stream and good profits, you can spend money on solving almost any issues in your business.

What do to next?

Find out exactly how your company makes money, and then how you will make the sales.

Spend at least 80 % of your time on sales activities, and don`t slow down before you are starting to get a steady cash flow.

Start setting the correct goals that will generate more sales for your business.

Then it`s time for massive action.

Off you go!

How about you? What`s your experience with setting correct goals?

Author:.

Tor Refsland decided to leave his six-figure job in order to follow his passion - to found Time Management Chef where he helps online entrepreneurs SAVE TIME and INCREASE RESULTS.

Want To Supercharge Your Productivity?

Get his Free eBook - Insane Productivity Hacks
www.timemanagementchef.com/evancar
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Have a question for Tor?

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Don Purdum
22nd January 2015 10:55am
Hi Tor, I agree, goals are so important and having the right goals are even more important. I would say before you can really establish goals though you have to have a very clear vision of your business and where you want to go. Then, you have to create the right strategies to help you get there... then you create the specific and measurable goals to achieve the strategy. They go together and I think you when it's framed from that perspective you gain clarity and focus. When you have ... Read More
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Tor Refsland
26th January 2015 12:39pm
Hi Don, thanks a lot for stopping by to comment. I totally agree with what you are saying, Don. Having a clear vision for your business is crucial, and it`s should be a prerequisite before you can set the correct goals. If you were to start a business and your business plan was A, and then after 6 months, your business plan totally changed your hard work towards reaching the goals in plan A would be a wasted effort. The Japanese are well known for their quality when it comes to creating complex ... Read More
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Don Purdum
26th January 2015 2:33pm
Hi Tor,

That's a great point about the Japanese and their philosophy. But, I would like to add that it is totally possible for business to get it wrong and learn from it as well.

There is a great story in the book about Southwest Airlines titled "Nuts..." and in it they share how mistakes initially cost them money but because of the corrections they were able to make even more than was ever possible for the mistake.

I really appreciate you reply Tor!

~ Don
Gravatar
Tor Refsland
29th January 2015 9:22am
Hi Don, thanks for your insightful comment as always, and thanks for the tip about the book. I do agree with what you are saying, Don. It`s the same with research, reports, decisions and opportunities related to business, as with other things in the life a dynamic environment, constantly shifting and evolving. If we are to spend too much time on analyzing and planning, at least three things might happen: 1. You become paralyzed by overanalyzing, and you will never start executing 2. At the time ... Read More
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Tor Refsland
29th January 2015 9:23am
What is your experience regarding the sweet spot, Don?

Thanks again for commenting.

Tor
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Don Purdum
29th January 2015 11:00am
I think that 40% is spot on... some things just have to be measured and compared against the goals and then adjusted if necessary based on the experience.

Great point Tor!

~ Don

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Sue Anne Dunlevie
22nd January 2015 2:18pm
Great article, Tor! Setting correct goals is the key, right? I appreciate the good info.

Sue
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Tor Refsland
26th January 2015 12:42pm
Thanks for stopping by to comment, Sue.

I really appreciate it :)

Yes, setting the correct goals for your business is definitely a key piece in the overall picture towards your business success.

Tor

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Anthony Metivier
22nd January 2015 4:03pm
Great post, Tor.

Taking the leap into outsourcing was a huge point for me. But ...

I still don't know how to figure out everything that I can outsource. Any tips on identifying the biggest and most key jobs that we're blindly doing but don't have to?
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Tor Refsland
26th January 2015 12:45pm
Hi Anthony,

thanks for stopping by to comment :)

Let me flip the question, Anthony.

In your business, what type of high value tasks can only be done by you?

I would assume that would be creating content and products / services.

Identify those tasks, and spend most of your time on them.

Consider outsourcing the rest.

Tor

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Nathan Ambrose
22nd January 2015 5:32pm
Hi Tor.

How did you know what I was thinking? How can I make more money for my business?

It's true that most of our effort should be on what generates sales. Of course that gets easier to distinguish when enough sales are generated.

But it's a good point - setting the correct goals gets the focus right. That's what I'm trying to do.

I'll get there. Thanks for the tips.

Nathan.
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Tor Refsland
26th January 2015 12:47pm
Thanks for stopping by to comment, Nathan.

Well, I guess I must have a psychic gift ;)

Of course you`ll get there, mate.

Keep up the good work.

Tor

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Julie
27th January 2015 7:53am
Goal setting is vital in life, business and most of all for holidays. Thanks for the article Tor.
Cheers Julie
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Tor Refsland
29th January 2015 9:10am
Thanks for stopping by to comment, Julie.

I really appreciate it :)

Tor

Gravatar
Tor Refsland
29th January 2015 9:09am
Thanks for stopping by to comment, Julie.

I really appreciate it :)

Tor

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