The fiscal year end is almost here for business owners to assess their performance. Unfortunately, for many entrepreneurs, it is difficult to make these assessments because they haven’t set up a plan with metrics to determine their performance.
One of the most important aspects to achieving your goals is to regularly measure your progress. One of my clients recently wrote in to say before he started working with me he had multiple marketing ideas for multiple markets and was not measuring any of it.
After creating his Business Blueprint, which is a process of aligning his vision, business model, as well as goals and objectives with time frames, he was able to focus his marketing efforts to become more efficient with his time and his spending. By measuring the results against his Business Blueprint, he knew what was effective and what needed to be altered so he could stay on course and profitable.
To get traction, ground every single objective in a time frame. With no time frame tied to it, there’s no sense of urgency. With no sense of urgency, it doesn’t get manifested or completed. If you want more clients, when do you want them by? “Someday” won’t work.
When you fasten an objective with a time frame, such as:
- Close 15 new clients by July 1
- Become a Best Selling Author by April 30, 2015 or
- Increase revenue by 10% by December 31, 2015
then you set your unconscious mind into motion and create a tangible, clear pathway toward profitability.
When you identify objectives that are most important to you, you begin to figure out ways you can make them a reality. Along the way, develop your skills, abilities, attitudes, mindset and financial capacity to reach them.
Successful entrepreneurs also make continuous development an ongoing part of their plan. They get additional education, coaching or mentorship and utilize their resources to attain their objectives.