So you’ve set revenue goals for your business. Congratulations! You are well on your way to hitting your target just by taking the time to write down your goals.
Of course, now you have to execute a plan that carries you to the finish line—and staying motivated on down weeks can be a struggle.
“You never know what is going to happen. Just the other day I had a one call close. It can happen,” says Alison Powell, a sales rep at the inbound marketing firm HubSpot. “Don’t slow down because you never know if you are going to get that prospect on the phone who can buy right then and there because the timing is perfect.”
Dean Robinson, CEO of Redmans, a family business advisory firm based in Sydney, Australia, says setting goals for revenue and growth in any small to medium business is much like trying to lose weight. He suggests three rules:
- Targets should be achievable and realistic. “Trying to lose 50 pounds in one month is completely unrealistic,” Redmans says. “So is driving revenue growth of 30% over a three-month period. Realistic and achievable targets will be easier to accomplish and put you in in a positive frame of mind.”
- Be accountable. “Weight loss programs don’t work unless you have regular contact with an expert or dietician,” Redmans says. “In small to medium businesses, you are the boss. You need to appoint someone outside the business to keep you honest and on task. Accountability will eliminate excuses and create action.”
- Reward all victories. “If you lose five pounds in one month, you might treat yourself to something special,” Redmans says. “In business, if you pick up a new client or start to see revenue increasing, reward yourself. Dinner out. A nice bottle of wine. Tickets to a show. Celebrate the journey, not just the finish line.”
Consider these tips from entrepreneurs in the fray:
“Remember it is not about you, whenever you feel frustrated or stuck it is because you are concentrating on you instead of the outcome your clients/customers will receive by working with you.”—Catherine E. Storing, Chief Style Coach of The Confidence Building Coach
“The best way to stay motivated when the going gets rough is to remember why you’re doing what you do. I became a small business owner because I loved the thought of being my own boss—setting my own schedule and getting the flexibility I wanted so I could spend more time with my family. Ultimately, I’m doing this for them. I love my business and everything it does for the small business community, but whenever things get tough, I just think of why I sought out this venture in the first place and I feel grounded once again.”—Deborah Sweeney, CEO of MyCorporation.com
“Plan for the Day, Week, Month, and Year: Keep the planning process as a large part of your day. Rate your goals and objectives as A for high priority, B for priority, and C for low priority. Attempt to get to all your A goals, then your B goals, and if you have time, attempt to get to the C goals. The night before the next day, plan your day. On Sunday night, plan your week. At the end of the month, plan for the next month. On New Year’s Eve, plan your year. Do this, adding plenty of time for spontaneity. Depending on your projects, attempt to complete the big projects within a month’s time. Use each week and each day to complete a portion of the projects so that you keep the momentum going. Doing this will ensure that you reach your goals and reap the success of your effort.”—Michael Provitera, President of Motivational Leadership Training