Want to know one of my biggest frustrations as a coach?
Watching the lack of progress of so many promising entrepreneurs and coaches.
They’ve dreamed for so long about creating a solid, sustainable business, and yet, all they do is dream…
You know the people I’m talking about right?
They attend conferences, sign up for free webinars, buy paid training, and sometimes even work with a coach or two. And yet week after week, month after month, year after year, they fail to make any progress toward their dreams.
Are they just lazy? No, it’s worse I’m afraid.
They simply don’t know how to move from a dream to a plan and they’re stuck.
If you happen to be one of these people or know someone who is, here’s some advice:
START WITH THE LONG-TERM
“Where do you want to be five years from now?”
The classic job interview question.
You may have thought it an odd question. But as a business owner, that might just be the most important consideration you can have!
Without the destination in mind, how on earth can you create a map to get there?
You need to know what your long term goal is, so that every day, week, month, and year you can check your progress to be sure you’re still headed in the right direction.
“The journey of a thousand miles begins with a single step” – Lao Tzu
First things first.
Visualize your ultimate destination, then take the step of drafting a plan for getting there, followed by creating the interim goals that will help you stay on track.
For example, if in five years you want to be free to travel for 8 weeks every year, then you need to have a few pieces in place before that can happen:
- Enough income to cover travel costs
- Passive income to sustain your business while you’re not working
- A staff who can manage the business while you’re away
With this list, you can then work backwards from your five-year goal and create milestones along the way.
If you know you’ll need to earn $150,000 annually in order to fund your travel plans, and right now you’re earning $60,000, then reasonable milestones might look like this:
- Year 1: $70,000
- Year 2: $85,000
- Year 3: $105,000
- Year 4: $125,000
- Year 5: $150,000
With these milestones in place, it’s much easier to figure out exactly what you need to do to achieve them, by setting your monthly, weekly, and daily goals.
Be that specific.
Create small goals
If you say to someone, you need to move from $60,000 to $150,000 in five years, you might be faced with some weird looks!
After all, that’s a $90,000 increase. Most people will look at it and immediately dismiss it as impossible.
But when you break it down as we have above, and then again into smaller steps, it suddenly doesn’t look so daunting, right?
In the first year of the plan we have outlined here, your income needs to increase by only $10,000. That’s less than $1000 per month!
Surely that’s easy enough to accomplish?!
You can break that down further, by week: $1000 per month is just $250 per week. If you sell just one more group coaching package or five more of a $50 training program, you’ve already reached your milestone.
That might mean sending one more email to your list, or investing an additional $20 per month in Facebook ads, or perhaps reaching out to one more JV partner.
The point is, reaching this much smaller goal is far easier than thinking about that five-year plan.
One step at a time and be patient with yourself.
So what’s your big dream? How can you deconstruct it into achievable milestones, workable goals, and finally, daily and weekly tasks? If you can do this (sure you can!) then you can achieve anything in business and in life.
Go for it!