Setting Powerful Goals

Why Set Goals?

The process of setting and achieving goals can be like building a ladder from where you are to where you want to be. Sharp, clearly defined goals that are meaningful to you can give you a sense of purpose and improve your self-confidence. Simply knowing where you are going can mean that you will get there faster, just ask Wayne Gretzky, the NHL’s all-time leading scorer. Writing your goals down and sharing with others can increase your chance of successfully completing them. 

How to Successfully Achieve Your Goals

Goal achievement is influenced by writing meaningful goals, committing to goal-directed actions, and being accountable for those actions. Below are five steps for writing your goals:

1. Set Goals that Motivate You – make sure that they are important to you. Relate the goal to the priorities in your life, and then focus the goal down to its essence. One great check is to ask yourself “Why?” after you’ve written the goal down, and keep asking until you have the single nugget of purpose. Then rewrite the goal to address that purpose.
2. Set SMART Goals

Specific – well defined; clear to anyone who has a basic knowledge of the project

Measurable – know if the goal is obtainable and how far away completion is; know when it has been achieved.

Achievable – results are attainable.

Relevant – relates directly to company goals, and measures actual outputs such as products, deliverables and accomplishments

Time-Framed – enough time to achieve the goal; not too much time

3. Write Your Goals Down – this makes it real and tangible. Use positive action words like “will” instead of “would like.”
4. Make an Action Plan – plan all of the steps needed along the way. By writing down each step, then crossing each one off as you complete it, you can measure progress towards your goal.

Here’s an interesting fact: each time we successfully achieve something, our brain releases the reward chemical dopamine. Dopamine activates the part of the brain responsible for pleasure, learning and motivation. Thus, the more you succeed, the more likely you are to continue.

5. Stick with It – build in reminders to focus, review your goals regularly, and communicate your plan to someone who will hold you accountable.

Writing goals is a skill that improves with practice. I have been using the 7 Habits of Highly Effective People by Stephen Covey as a goal-setting platform for many years, and each year I refine the process and get better at setting goals that I am motivated to achieve. Each year I review my goals over time and realize that my life is truly a tapestry, not just a series of random events.

Are You Ready to Try To Take Over the World?

          Before you hire a business coach, you've got to be able to answer one question: 
Are you ready to make a change?
          If you want to leave a legacy, you have to be prepared to answer the tough questions.  Maybe you already own a business, maybe you are just getting one started, or maybe you have an idea for a business cradled in your thoughts.  The first thing I ask when I look at a business plan, or hear an elevator speech, or talk to an owner about their business is:  

"What are you going to do that's different from what you are doing right now?"

          You have a choice, my friend.   You can continue to run your business the same way, with the same tools, and the same people.  Do not make the mistake of expecting different results.  This can be a very comfortable business, with adequate returns and satisfaction with a job well done at the end of each day.  You may even excel at Steady Eddy, and win all sorts of Steady Eddy awards (Best Place to Work, e.g.).    

          Or, you can brace yourself for opportunity, and follow in the footsteps of the Brain, from the cartoon series Pinky and the Brain.  Given the opportunity, the Brain will take a chance, risk everything, and go for broke.  The Brain's entire business model is simple:  Try To Take Over The World.
          If finding yourself in the same place, doing the same thing year after year is not what you want, then be prepared to get hurt, be prepared to be ridiculed, be prepared to give it everything you've got and then, you guessed it, Fail.  
          If you truly want to Try To Take Over The World, you will have to change what you are doing.  You may have to change everything you are doing.  You may have to fire your best employee.  You may have to fire yourself.  You might fire your best employee, then yourself, then discover that the two of you were the only ones keeping your business afloat.  You may have to discontinue production of your favorite, best-selling product.  
          Are you ready to do that?  You might not just lose money, you might run your business right into the ground.  But you will have learned some things.  You will know what not to do next time.  Because you have to want this bad enough to give this answer after failure:  

          The first step is to find someone who is business-savvy, and willing to take the gloves off in evaluating your business.  Face it, the business world is brutal, and mean, and it doesn't care if you tried your best.  Excuses don't feed to the bottom line, results do.  When you find that person, let them in to your business, show them everything, then have them write a Management Letter.  I'm not talking about the letter the auditors give you once a year that kindly mentions "deficiencies" and suggests areas for improvement.  I'm talking about an in-your-face, brutally honest evaluation of your business strengths and weaknesses.
          After you've read the letter, pick yourself up, dust yourself off, wipe the blood off your face; and ask yourself again, are you ready to make a change?  What is your capacity for change?  Are you prepared to get beat up, knocked down, and laughed at?  Are you prepared to sacrifice the very things that you think make you successful (such as your position as leader of your business)?  If your answer is yes - emphatically "yes!"  Then you are ready to transform your business into something more than a living.

"The Brain: Pinky, are you pondering what I'm pondering? 

Pinky: I think so, Brain, but this time, you put the trousers on the chimp."

UnCoachable in 4 Easy Steps

          You're ready to invite someone in to help you find your way to your dream success.  Whether you are just starting your business, or you've been at it for years, you have finally reached the point where you are ready to pay someone to guide you through the next phase.
          There are lots of business coaches out there, with expertise in a variety of backgrounds and many different approaches.  There's sure to be one that fits you.  If you love seeing your coach and you want your coaching to drag on, keep reading.  If you have no tolerance for change, but you heard that having a coach makes great conversation at parties, keep reading.  If you stubbornly insist on hiring a coach, but not to improve your business, here are a few things to do:

1. Argue.  When your coach offers direction, argue.  Bring up articles you've read, point out all of the ways that you cannot take the action suggested, and tell the coach how hard it is to follow through.  After all, this is your business, you know what you are doing, and who are they, anyways?  
2. Don't do it.  You can accomplish this many ways.  You can discuss the direction at length, you can simply ignore it, or you can even nod vigorously and do nothing.  Whatever you choose, do not move in the direction the coach has suggested.  Everyone knows that change is dangerous, you're just preserving your business.
3. Redirect.  Coaches love it when you share what you learned from someone else, especially if it is out of context and completely contradicts what you've learned from your current coach.  It is your responsibility to be a well-informed participant, and to look at all sides.  Magazine articles and blogs are an excellent, in-depth source of knowledge.  You can use this information to coach your coach (they really love that).  Taking action on this new learning is the way to go, the more it differs from the coaching you've received, the better.
4. Cry.  If you have a coach who actually cares about your success, there will be times when the coach will put a lot of pressure on you.  The coach may launch into locker room language and say things like, "Do you want to be the best?"  The coach may refer to this as "tough love."  Do not be fooled, this is badgering, plain and simple.  That approach to motivation and team spirit only works in commercials.  When the coach gets in your face, break down in tears.  If you have tried the other steps, this should completely derail the coaching program.

One final thing to note:  to keep your coach invested in you, you will have to contact them after completing one of these steps.  Wait until the action is irrevocable, then pepper your conversation with apologies and justification.     

How to Host a Successful Meeting

          Have you ever attended or hosted a meeting, only to be disgusted with your fellow attendees' behavior or the complete waste of time?  Wait!  Before you schedule your next meeting as a host or attendee against your better judgement, consider the following.
          Meetings should only be held in two situations:  collaboration or conversation.  Any other circumstances can be taken care of with a memo or a short power point.  If you must hold a meeting, follow these four steps and attendance and attitude will improve:

1. Send an agenda and your meeting materials the day before.  You may even send a task or reminder set the day before so that people arrive to the meeting informed and ready to go.
2. Be on time and stick to the meeting time frame.  If the discussion looks like it will go long, reschedule that item for another time.  This is being respectful of other peoples' time, which will be much appreciated.
3. Invite the right people.  Check your attendee list, are you missing any key decision makers?  Do you have any extra attendees who don't need to participate in the discussion, only be informed of the results?
4. Send a follow-up with a summary of decisions and assignments that came from the meeting.

If you are not the meeting coordinator, but you often find yourself attending useless meetings, try these steps to manage your meeting holder:

• Start meetings on time.  If the meeting holder is late, wait 10 minutes, then send a polite request to reschedule.
• Request an agenda and meeting materials the day before the meeting.  At first, you may not get anything back.  Stick with it, if the host knows that you are going to request information beforehand, eventually they will catch on and send it with the invite.
• Keep the meeting time limited.  If a particular topic goes long, suggest moving it to another time.  If the meetings you attend often extend past their time limit, politely excuse yourself from the meeting and offer to contact someone to get the information you will miss.  Sometimes just making this gesture will wrap up a meeting that's dragging.
• Send a follow-up email outlining the decisions and action steps that you will be taking as a result of the meeting.

There are just some people out there who are habitually bad meeting participants.  The best you can do is follow the above steps and keep your cool.

A free resource to help plan, organize, and collaborate your meetings is MeetingKing.  It's an online tool to create agendas, store and share documents, track tasks, and keep a record of past meetings.  

Watch Your Language!

          So often what we say carries emotional meaning.  Our inner dialog is running all day long, providing commentary on our actions, activities, feelings, and interactions with others.  On a good day, what we say might boost us up.  More often, we fall in the habit of destructive self-talk.  We berate ourselves for making a mistake, we sabotage our efforts to improve, and we overwhelm ourselves with vague obligations.

          What we say to ourselves should be uplifting, encouraging, and, well, nice.  In the spirit of changing a habit, below is a list of words to listen for.  Once you are aware of the troublesome words, replace them with another one (suggestions are to the right).

• Should  - this is a vague guilt-trap, instead say you are going to (and list a specific date), or release yourself and say that you don't have to.  
• Example:  I will eat better starting today.
• Race - this word and many others (rush, scramble, e.g.) imply that you are performing under pressure, instead use less aggravating words such as "completed" or "did."
• Example:  We completed the project under deadline.
• Need - this word is life or death, without this thing or action, you will die.  Replace this word with "would like" and it won't feel so urgent.
• Example:  I am following my budget more carefully.
• Can't - this word defeats you before you've even started.  Say that you are going to do this, or say that you have chosen not to do it.
• Example:  I won't be completing that project because another opportunity has come up.
• Try - using this verb means that you made an unsuccessful effort.  If you haven't even started (you are going to try) then you have already determined that you will not succeed.  Eliminate this from your vocabulary and skip right to the next word to be more decisive and positive.
• Example:  I will be at the Monday status meeting on time.

          As you read through the list, think about how these words make you feel.  Then read through the alternate list and think about how those words make you feel.  To finish the habit loop, tell your coworkers and your family which words you are going to eliminate, then check in to see how you are doing.

Did I miss any words?  Which words are triggers for you?  

Mastering Your Cash Cycle, the Basics

          Cash is an elusive small business tool.  One minute it's there, the next it's gone.  First you have none, then you have some, then someone else has yours.  The trick to keeping cash around is not what you think.  Okay, yes, putting it in savings and never, ever taking it out is a great idea, but not very practical.  Below are three (more practical) ways to keep cash working for you.

1.)  Collect like a bunny.  Collect your sales receivables at or before terms.  To do this, implement a collection process (habit) to train your customers to pay on time.  One or two months of reminders and your customers will pay on time.  A good collection process is to send a reminder (by email preferably) when the bill is 1 to 5 days past due.  A phone call at 10 to 15 days past due will motivate your customers to pay on time in the future.

Courtesy of flickr.com via Creative Commons

2.)  Pay like a turtle.  Pay your suppliers and vendors as far after terms as possible.  Unless you receive a discount for paying early or there's a penalty for paying late, never pay early or on time.  If possible, negotiate with your vendors to provide an early payment discount and terms that are longer than the ones you extend your customers.

3.)  Plan your spending, then stick to it.  Sit down and review your budget and plan your bill payments for a minimum of three months at a time.  Do this only once a month, if possible.   By looking at your cash position once a month, you are able to see the big picture, which helps you to make smart spending decisions.  Having a plan also reduces your stress, and limits the stressful process to monthly, rather than daily.

If you follow these three steps, your cash can work for you.  You can extend your cash cycle, giving your business the opportunity to invest the money.

The 8-Hour Workday Habit

          Have you ever heard of the game called Superfection?  It's a timed game, where you fit pieces together into the shape of squares on a board.  If you do not get all of the pieces on the board before the time is up, the board pops up with a loud "kapow" and the pieces go flying.  I had it as a child, and spent many hours beating the timer.  Recently, my daughter pulled the game out, and I heard the familiar sound of the timer, the "kapow", and her squeal as she played.  Of course, my son and I had to get involved.  I remembered that my best time was 60 seconds, and the challenge was set.
          Amazingly, I recalled the skills I had developed when I was younger and was quickly able to bring my time down to 59 seconds.  My son was impressed with how calm and deliberate my hands were as I played.  My kids are still working on it.  Then my son had an intriguing idea.  What if we set the timer to only have 60 seconds on it?  What would happen when we weren't just beating our time, but we were under pressure to beat the game's "kapow?"
          As a small business owner, you put in as many hours as your business needs to be successful.  You often have 12 to 14-hour days, and never a day so short as 8 hours.  As a matter of fact, you could say that you are in the habit of working long hours.  The thing about habits is that they become ingrained.  We perform the habit's motions but lose the meaning.  
          Business owners in the habit of working long days lose a sense of time.  Since they are "at work" most of the day, tasks can take as long as they need to.  If you are in a service business, appointments can run long, because your day is booked in units of customers instead of units of time.  You just start at the beginning and work until you've seen all the customers on you schedule for that day.  This can be true of other business types.  The mindset is on completing the task, not on the time it takes to do it.  
          While giving the customer or task as much time as it takes may seem like superior customer service, in reality, it leads to inefficiencies and waste.  The customer may not appreciate that you are consistently late to start their appointment (because of the overlap from previous appointments), or that their appointment with you runs long.  Taking longer to complete tasks most often does not mean that you did a better job, it just means that it took longer and so your day stretches on.
          Another effect of an endless day is that you begin to mix your personal activities with your work time.  Since you are never home and never have time off, you begin to take care of your personal emails, bill paying, phone calls, and maybe even errands during business time.  This is a matter of survival, right?  If not now, when?  The result is that you always have a working mindset.  You never give yourself down time, you never feel you are away from the business, and burnout drags you down further.
          I propose that you take a different approach.  Set the timer to as much time as you want to give your business in a day, before you start your day.  You may even set a reminder to go off an hour before your day ends, so that you can take stock and wind up your day.  Start with a 10-hour day, because cutting too much time off too quickly will lead to frustration.  Since you are creating a new habit, you will have a learning curve.  Plan on struggling with it at first, but just like a diet, forgive yourself and start fresh with the next day.
          You will need to clear your personal activities off your work day calendar.  You will need to schedule a reasonable day.  You can use tools from The Busyness Habit to help.  Be firm about the timer and end your day when it goes off.  You will be amazed at how quickly you will adjust to the day, and your new habit will be to go home at a reasonable hour.
          Playing Superfection with the threat of the "kapow" caused me to go back to some old struggles.  My hands were shaking and I had trouble getting the pieces to fit together.  But then, I took a deep breath, reminded myself that I could to this, and went back to calmly beating the timer.

Photo courtesy of marketplaceadvisor.channeladvisor.com

The Busy Habit

          As a small business owner, you know what busy is.  Often, you are wearing multiple hats and performing jobs in which you have little or no training or background.  You know you'll figure it out eventually, or grow your business and hire someone else to do it.  In the meantime, you are spending a lot of time learning new skills and, well, running a business.
          Busy is an attitude, not a state of being.  Creating habits to help you stay organized and manage your schedule can reduce your stress level, and give you confidence in your day.  You will probably have as much, or more, to do; but you will feel like it is manageable.  

• First, write out your to do list, highlight the important tasks (no more than five), cross off the rest, then store the list in your drawer.  The To Do List exercise is a good tool to focus your thoughts and help you keep your eye on the big ticket items, but you can burn a lot of time tending to it and a long list can make you feel defeated before you've even started.  At the end of the day, get out the list and rewrite it for the next day, adding any tasks that came in during the day, but save the highlighting for when you are fresh the next morning.  Put a big check mark next to completed items and enjoy that satisfying feeling.  
• Second, set realistic expectations early and often.  Your customers, suppliers, and employees may demand more from your business than you are prepared or capable of giving.  Know your limitations, communicate that, and then stick to them.  You may have to get in the habit of considering your calendar and capabilities before you accept a new obligation.  Practice saying "sure, but can I get that to you tomorrow (or another reasonable time frame)?"
• Last, use your email program to organize and schedule your time, then commit to sticking to it.  Most programs come with reminders, tasks, and the ability to move emails to your calendar.  Categorize your emails and tasks during your To Do List exercise.  Block time on your calendar for administrative tasks, phone calls, meetings, and follow up.  When you are obligating yourself or your business, open the calendar and use it.

If you keep these three points in mind as you work through your day, how you spend your time becomes easy.  Just like a diet or new exercise regime, being organized is a habit.  The initial effort takes time, but eventually it will become a background part of your day.  If you find yourself slipping, or you have a "busy" day, take a deep breath, remember that tomorrow is another chance, and forgive yourself.