Today, we’re going to be talking about why it is so essential to be setting goals in your business, why it’s important, and how it actually doesn’t come from Instagram.
Followers are numbers and statistics. That don’t matter that much. And I’m also going to be chatting about some actionable tips on how to set your goals properly and how to track them for success.
I think you would be shocked if you knew how many times I go into a mentorship with one of my mentees and I realized that they haven’t set any goals for the year, or even for the quarter or the month.
And to me, it’s quite shocking how many people don’t do this and just how important this is as a business owner to be doing this, because of the success that you can see from it and the fruit that you can see from it as well.
Are you currently setting goals?
My first question for you though, is, are you currently setting up goals? And if you are, what does your structure look like? One thing that I really value about this podcast is the community that we build in this group. And, you know, we have a Facebook group that I’ve started with this podcast. It’s a place for us to review show notes and to discuss and talk about what we’re learning together.
If you already have a structure in you’re already setting goals, I would love to know your structure. Feel free to email me firstname.lastname@example.org.
If you aren’t setting goals, why not?
If you’re not setting goals, my first question for you is why are you, what is holding you back?
Is it maybe you haven’t thought about setting goals before, or you’ve thought, Oh, that’s only for the big businesses. That’s not, for me, I’m a sole proprietor or I’m self-employed, I’m just by myself. I don’t need to have all of these deadlines and all of these goals.
I’m going to first tell you right now, you are missing out on so much success for yourself, for your business, because this is one of the most important things that you can do for your business to track where you’re going and how you’re going to get there.
My First Year in Business:
There’s also a lot of good things and a lot of not so good things. I think the first year of anyone’s full-time business or even part-time is obviously a learning curve.
There is a lot to be learned in the first year. My first full-time year was in 2018. This was after a year in 2017 where I was part-time with my photography. I booked 10 weddings. I was a wedding photographer. I had booked 10 weddings on my own, and I was going into 2018 with 30 plus weddings in the books. And I went full time.
To me, I had a set one goal and it was the amount of weddings I wanted to book – 30 weddings.
But other than that, I did not set any goals based on finances, based on strategy, based on future plans, on what I want this business to look like.
And overall, it made my first year very disorganized and very overwhelming. I felt like I was a chicken running around with its head cut off. I just felt like there was nothing I could do to make this feel like I was in control of my business. I felt like I was so out of control and I didn’t know what to do about it.
And overall it made me so burnt out. I wanted to quit, but I knew that this is what I was supposed to be doing. So I took a hard look at 2019 and I thought, what do I need to do to make this year a lot easier on myself?
And thus came my strategy for goal building, which I’m going to share with you today in a hot second.
But first I really want to dive in and drive this home to why setting goals is so important for you. If you’re a small business creative, or even if you’re just running any sort of business, you need to be tracking goals because that will help you track your success. What I mean by that is your success does not come from Instagram statistics.
Your success does not come from Instagram Statistics.
If I could tell you the amount of small business owners or small creative business owners that I know that have thousands of followers on Instagram, yet are struggling financially to make ends meet, you would be shocked. That’s because Instagram followers do not determine your success, your business goals do.
So don’t get caught up in the numbers on it’s on social media and Instagram. I think it’s really easy to do that, but it’s so disheartening when you feel like you’re not getting enough followers. You actually might be doing better than you think you are, because you’re actually hitting your goals with your business, which is what matters in the long run.
So the first thing I want you to do is really think about what success means to you. And I’m going to tell you what I think it means:
Success comes from setting goals that are measurable and evaluating how you did to achieve those goals in your business.
If you’re not setting measurable numbers, this is a big thing. You want to make sure that your goals are measurable because then you can track how you’re actually doing and what you’ve accomplished so far to achieve that goal.
If you’re not tracking your business through goals, you’ll never know where you started and where you are now as well, which is so important.
If you don’t know where you came from, you’re not able to track the growth, and you’re not able to track where you started to where you are now.
You’re going to feel so disheartened and so discouraged in your business because you’re going to feel so disorganized and honestly burnt out much. Like I was my first year.
So with all of that said, tracking your goals will help you stay on track with where you want to go in your business.
So step one for you is I want you to devise where you want your business to be within the next 10 years. If this is a long-term business for you, you want this to be something you’re doing for the next 10 years. I want you to envision what your business is going to look like 10 years from now, how many employees are you going to have? What’s going to be your average revenue on a good year. What services and offerings are you going to be?
Having thinking of all of that is really important. Now, next to that, I want you to think about what your 10 year life plan is going to look like. So what are your financial goals personally? How much do you want to be making and giving yourself from your business to accomplish what you want in your life? So do you want to buy a house? Do you want to have like four kids – that’s expensive. Do you want to have maybe five dogs? Do you want a plot of land in Idaho? Do you want a house in Southern California?
So think about what your, your life plan is as well. And does it align with what your business is going to do?
What’s the revenue that your business is going to bring in and how much do you need to make to get to that goal? Now that’s not something that’s going to happen overnight, right? That’s going to take a couple of years, AKA 10 years to get to, or maybe sooner. So what you really need to do is you need to sit down and you need to figure out what that ten-year business and life plan is.
And then you need to divide it and create a strategy on how you’re going to get there.
So after that step is complete, I want you to then work backwards. So how do you work backwards from that ten-year plan to where you are right now.
What do you need to accomplish this year to get to the next level? That’s going to bring you to that ten-year plan. That’s where your annual goals come in.
So step two is I want you to go out and I want you to buy a notebook. It’s pretty simple. Just go get one. I’m a visual learner. So I need to write it down and I need to see it on paper. Or if you’re more tech oriented, do it on your computer. I want you to come up with five to seven measurable annual goals and they have to be measurable.
So what that means is they have to be a number that’s usually the most measurable metric. Let’s say for example, you want to make $60,000 in wedding photography. This is a good example because I’m a wedding photographer and I can apply this. And most of you are also probably wedding photographers for right now.
What is the amount of weddings that you want to do to achieve that number? Let’s say you want to make $60k. Let’s say that you shot 30 weddings your first year, and you’re like, that was way too much. I actually want to shoot less than that. So now you want to shoot 20 weddings.
Divide $60k divided by 20, whatever that number is, should be your average price for weddings. That’s how you’re going to accomplish that goal.
That’s why it’s so important to set these goals because you don’t have to work hard. You just have to work smarter.
So let’s say you want to, you want to make 60 grand. You want to book 20 weddings. That’s another measurable goal. So that’s two.
There should be no more than seven measurable goals that you set annually. I think if you add more, it’s going to get complicated.
So you got your seven goals. Now you got to break those down into quarterly goals. This is where it gets really fun. And also so organized that it’s easy to track.
So this would be a three month span, wherever you’re starting this from. Usually it goes by the year. So January to March and then April to June, so on and so forth.
So from January to March, you’ve got a book 20 weddings in the year. So divide 20 by four. That number comes to five.
Now you need to book five weddings in one quarter, AKA three months, that’s doable. Right?
One thing I should say about setting your goals, I always say shoot higher than you need to, or that you think you can attain because if you shoot higher than you’re going to work a little harder to get to that goal, and then you’re actually going to end up making more than you were planning, which is a good thing.
Let’s say you book three instead of 5 for Quarter 1. Okay. Those two weddings that you didn’t book in quarter one, then carry over into quarter two.
So then in quarter two, you have to book seven weddings because you’ve got the five already plus the two that you didn’t book in the last quarter. And that’s what keeps you going. That’s what gives you a strategy behind what you need to book to meet those goals.
In turn will then obviously correspond with your financial goal of 60,000.
You need something that’s going to drive results, get you those wedding bookings, get you that much.
So let’s say you got a book, five weddings in the quarter. How are you going to do that? What is your strategy behind that?
My next step then is to break it down into months.
So January, five divided by three months is about two, one or two weddings booked per month. So I need to book two weddings this month. How am I going to do that?
Well, I’m going to publish one creative blog this month. I’m going to our educational blog. I’m going to blog three real weddings to my website. I’m going to run Facebook ads. I’m going to reach out to vendor referrals. And I’m just going to keep posting to my social media and my marketing and getting my message out there.
If you keep doing that eventually, you’re probably going to book those two weddings. So you have your marketing strategy based on your goals.
So there’s a whole strategy behind all of that. And it’s really important to have a strategy because if you don’t, you’re going to feel like that chicken running around with your head cut off. Trust me. I know cause I’ve been there.
Your success comes from being organized and having a strategy and being able to track it. That’s how you know how you’re being successful in your business.
After we finally have our months planned out, then we can break it down into weeks.
This is how you plan out your weeks. So this week I’m going to push for that educational blog. It’s going to be released this week. And the next week I’m going to push one of those real wedding blogs. That’s going to go out there in the meantime this week, I’m also going to be posting at least two Instagram posts, etc.
See the structure in a chart form below:
The chart of how I break this down into annual quarterly, monthly goals.
I would recommend doing this. You have to be tracking what you’re doing with your business, because if you’re not, you’re going to feel like that chicken running around with your head cut off.
Once you’re doing it, your goals, once you’re seeing what’s working, see what is actually going to drive those results for you.
If it’s not having those results, then can it don’t do it. You know what I mean? This will also help you work more efficiently priorities ties what needs to be done, which is so important.
When you’re your own boss, no one’s telling you what to do.
You kind of tell yourself what to do. So if you have a structure like this, you’re going to be more able to do that.
It’s going to help you track where you’re going and how close it’s going to get you to that next step, which is going to get you to that 10 year goal and life plan.
That’s all we have today! Be sure to leave a review to the podcast, join the Facebook group, and get involved!
Also, check out some of our exciting Group Mentorships coming up! Thanks again!