I love working with people and helping them identify how to grow their businesses. Maybe they need another pair of hands for a few weeks or a long-term plan to make their dream reality. I create a roadmap and a workable plan to get the work done.
Start With the Business Long-Term
If you’ve ever been on a job interview and were asked, “Where do you want to be five years from now,” you might have thought it an odd question. But as a business owner, that might be the most important consideration you can have.
Without knowing where you’re headed in the long term, it’s impossible to create a map to get there. You need to know your destination so that every day, week, month, and year you can check your progress to be sure you’re still headed in the right direction.
Set Milestones for Your Plan
Once you know your ultimate destination, you can draft a plan for getting there and create interim goals to help you stay on track.
For example, if in five years you want to be free to travel for eight 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 backward from your five-year goal and create milestones along the way. If you know you’ll need to earn $150,000 annually to fund your travel plans, and right now you’re making $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 precisely determine what you need to do to achieve them by setting monthly, weekly, and daily goals.
Break Down the Plan
If you say to someone, you need to move from $60,000 to $150,000 in five years, that’s a pretty overwhelming task. After all, it’s a $90,000 increase, and most people will look at that 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.
In the first year of the plan outlined here, your income needs to increase only by $10,000. That’s less than $1000 per month! Indeed that’s easy enough to accomplish!
You can further break that down 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, 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.
So what’s your big dream? Tell me at firstname.lastname@example.org or comment here. How can you deconstruct it into achievable milestones, workable goals, and finally, daily and weekly tasks? If you can do this (and you definitely can), you can achieve anything in business and life.