December 31 2017
The year is coming to an end and it's time for a moment of reflection. How close are you to hitting your goal this year and where were you this time last year? Are you guilty of setting lame, mediocre goals? There is a right way and a wrong way to set your business goals.
Matthew Ferrara, real estate mogul, keynote speaker, and consultant, has some serious tips for how to go about and set your business goals. These best practices for goal setting will help get you to where you envision yourself and your business to be, because when you care, you succeed.
Matthew says, "Don't start with a dollar figure. But, instead ask yourself, 'What is the reward for all of your hard work?' Maybe there are personal goals like saving for your retirement or putting your kids through college. Maybe it's a professional goal such as being the best in your marketplace. Whatever those goals are, and they might change over time, you need to sit down and clarify those goals." Focus on rewards first.
This is where your numbers start to come in. How much revenue do you need to generate? What about in units? How many sellers/buyers does that mean? What's the price point? Once you've figured these out, you can find the system that helps make them a reality. As Matthew says, "The right system will go to work for you."
The right system will:
You can expect some of the plans for success to include how many people you need to add to your sphere or actions the system can take care of for you, like automated emailing or creating marketing tools. "The best systems don't just organize your information. They need to activate them and help you work through that information using a process that is aimed at your goals."
You need to be able to see your goal every single day. You need to see how the actions you're making are generating the results necessary to reach the goal. Also, the technology you use should show other steps needed in order to attain said goal if you aren't doing enough as is. This kind of information helps you with: Budgeting and planning, managing expenses, highlighting gaps in your projections, comparing current performance to previous time periods, and focus on tasks and goals.
If you'd like, you can watch the entire video on how to set your business goals for 2018 here. If it's financial guidance you're seeking, we have a recorded webinar for you to watch here.
So, what are you waiting for? Hit the ground running in 2018 with goals and grit beside you! Trust us, your future self will thank you for doing this.
To view the original article, visit the Moxi Works blog.