A few weeks ago, I received an email from one of my clients, Antony.
I’ve been working with Antony for around 9 months now helping him to systemise and grow his practice and here is what he said:
“When I started this process I just had to have blind faith, but now I can actually see tangible results which is giving me the confidence to keep pushing. As I look back, I can see that all the very tiny steps I am taking each day are adding up to a lot of ground covered, and I can see that we are focusing on all the right things and making real tangible progress with them. These two things, I have to confess, have given me real belief that I can achieve my BHAG – and I am wondering if my BHAG is really Big, or Hairy, or Audacious enough!”
You see, goal setting is an essential part of growing your practice.
(It’s also something you are in a fantastic position to help your clients with, but I’ll save that for another article…)
You need goals if you want to move your practice i.e. your business forwards.
Because without any goals, you have no direction.
You’re essentially just drifting around, lost at sea. Sure, occasionally things happen, but they happen by accident and often with no real purpose.
By setting goals for your practice you can:
- provide clear direction for yourself and your team
- create motivation for yourself and your team
- measure your progress as you go along
But a challenge I see lots of practice owners face when they set long term goals is that they don’t have a clear plan of attack.
They write their goal down on a piece of paper, or maybe even stick it up on the wall next to their desk, without creating a step-by-step plan of how they are going to achieve it.
And what happens is that as the weeks and months go on, the goal seems to move further and further away, making you feel quite overwhelmed and demotivated.
“A dream written down with a date becomes a goal. A goal broken down into steps becomes a plan. A plan backed by action makes your dreams come true.”
If you want big results, and you want your dreams to come true, you need to break down your goals into little steps.
Start by dreaming big.
What is your Big Hairy Audacious Goal (BHAG) for your practice? This is often a long-term goal e.g. 5-10 years.
It has to be something which right now seems completely unachievable. It has to give you that excited ‘butterflies’ feeling in your stomach. If it doesn’t, then it isn’t big, hairy or audacious enough!
This is also the best time to get your team involved if you want them to buy in to your vision. You can read more about how to do that here.
Once you have your goal set and written down with a date, you need to create your step-by-step action plan for how you will achieve it.
Break your long-term goal down into:
- 3-yearly goals
- Annual goals
- Quarterly goals
- Monthly goals
- Weekly goals
Then for each of these, you want specific measurements in place so that you know whether or not you are on track.
For example, if your 10-year goal is to grow from £500K turnover to £5million turnover, then your annual goal this year might be to hit £750K turnover. For that you might also note your target number of new clients + average fee.
You might then break that annual goal down into a quarterly goal where you want to see an increase of £50K in turnover this quarter.
That quarterly goal can then be broken down into monthly/weekly goals, with exactly how many new clients you need to win + average fee in order to achieve these goals.
The more you break down your goals, the easier you will find them to achieve.
I’m interested, what goals are you trying to achieve? And what little steps are you taking this week to make sure you achieve them?
Leave a comment below and let me know…