Failure goals

Tips on Setting Realistic Business Goals

When it comes to setting business goals, it can be tricky to find that middle ground. If you set goals that are too high, you might get discouraged. If you set them too low, you may end up bored or complacent, or disillusioned with your business. So how do you strike a balance and set realistic business goals? Here are some tips.

Dream Reality goals

1. What do you want?

First, you need to determine what you want. Go ahead and brainstorm – make a list as you do. Put it down on paper and don’t hold back. Be creative, be bold. Take your time doing it. Maybe you need to brainstorm over a few days, as sometimes things don’t come easy. However, whenever you write down things, don’t judge them straight away. We will do that in the next step.

2. Assess your list

Now, take a look at your list. Make a sub-list of steps you have to take to reach each of those goals and dreams.

Are there some items on your dream list that involve steps you can’t take? If you cannot take the steps necessary to achieve that goal, then it needs to be modified or removed from your list. In some cases you may not be able to take the steps yourself, but you can outsource while still being in control of the outcome. If that is an option for you, keep it on the list – however, don’t dwell too long on it. Be ruthless – if it can’t be done within your area of control, then modify or remove.

3. Strategize

As you are making your sub-list of steps, you need to develop definite strategies for those items on your dream list that are achievable. Being able to see what is necessary to achieve that dream can help you decide whether or not to pursue it. The strategy may in fact be doable, but you are unwilling to take those steps for personal reasons. That is fine; it’s your list and your goals. And as above, if for any reason you don’t like outsourcing or can’t do outsourcing, then this item should be removed from your list.

Go ahead and don’t judge yourself – if you can’t/don’t want to adopt a certain strategy for your own reasons, then cross that goal off the list. The point is to narrow things down.

4. Timeline

Determine a timeline for your goals. Do you need to make more money right now, as in this month? Or do you have more long-term goals, such as eventually quitting your day job? On your master list, write down your timeline. This will help you further narrow things down – if the goal can’t be reached within your allotted time, then it doesn’t belong on your list of goals.

5. Know yourself

One of the keys to succeeding is to be really honest about your strengths and weaknesses. Sometimes we think we can do it all, or do anything…and other times we think we can’t do anything. Neither of these extremes is likely to be true! If you can, ask others what they think they can see you doing. However, take this with a grain of salt. These people do not walk in your shoes. Yet it is a good indication of what you have shown other people what you can do and what you can’t do. Sometimes this kind of chat starts a new idea.

Once again, break out your pencil – list things you like to do and abilities you feel confident about. Just about any skill or attribute can be channeled into helping your business succeed.

These list-making exercises can help narrow down your goals and keep them realistic and reachable.

Your Next Step

TakeAction-ButtonContact us to discuss how we can help you to

  • Choose and set realistic business goals
  • Plan your business initiatives that lift the bottom line
  • Learn how to reboot your business for greater success
  • Learn how to do a SWOT Analysis of yourself and your business and
  • Get more tips for your Personal Development Journey.

Why don’t you attend our Peak Performance Workshops, where we will join you on a new journey to become the always achieving superstar, who will be the envy of everyone else.

As a bonus we would like you to take action and download our free Action Plan for achieving a successful Work-Life Balance. It’s free and gives you the competitive advantage over others who seem to struggle each and every day by being busy and not achieving, by working long hours and missing out on life. With the right goals and action plan, you will become that superstar! Your journey starts with this action plan.

Work-Life Balance
Work Life Balance Action Plan