3 reasons why ENTREPRENEURS succeed with backward goal-setting
Photo by Curtis MacNewton on Unsplash
All entrepreneurs suffer from Shiny Ball Syndrome. Everything's a priority as a self-employed small business owner. Speaking from experience, "How to make your dog pose for the camera," YouTube videos are a priority. But just because it's a priority, doesn't mean it'll grow your business.
Backward goal planning as an entrepreneur equals progress on your big goals. Creating an actionable plan eliminates the anxiety of “I’m doing so much, but not gaining any traction.”
Reflecting on the direction you’d like to take your business is a critical step in backward goal planning. It paints the picture before defining what's essential that year.
“I’m doing so much, but not gaining any traction.”
The disconnect from your company’s vision happens more naturally than you think. Day-to-day operations are full of distractions and will make any entrepreneur feel like she’s chasing her tail. Or better yet, a shiny ball.
But by sticking to the plan, your business will grow at a steady rate and with ease.
Remember the tortoise and the hair story?
Imagine one task moving you further than competing ten busy work tasks a day. The backward goal planning method puts your energy in all the right places. Producing results is no longer an uphill battle because you’re focused on the target.
Here are three reasons why backward goal planning will get you results as a business owner.
Helps with decision making
Decision fatigue is real. Making bad decisions is just as exhausting as making good ones. The cure? Limit the number of decisions made by being selective and creating boundaries. Backward goal planning keeps you focused on what’s crucial that year.
Setting clear boundaries makes decision making easier. It’s like someone offering you a round peg, but all you need this year are squared ones. It doesn't fit right now. Decision making takes energy, so it’s essential to know where you should invest this limited resource.
Saves time & energy
We have 24 hours a day and an infinite list of distractions. I once spent five hours watching a graphic design tutorial never to use that 3D rendering skill again. Being an unfocused entrepreneur will derail your big plans. Some may argue that money is a limited resource, but I don't see it this way.
You can make money while you sleep, but you can’t passively reproduce energy. As for time, regardless of your circumstance, no one knows how much time we have.
Increases your bottom line
You’re in business to make money. Backward planning allows you to make decisions with a clear mind, analyze financial goals, and set realistic budgets. Growing a profitable business means focusing on the target and making decisions with a clear head.
Like a roadmap, goal setting presents a measuring stick. And it’s easy to get back on track while holding yourself accountable. Backward goal planning helps entrepreneurs navigate through the uncertainty and stay true to their company’s vision. All it takes is a bit of disciple and creative thinking.
Are you an Oak + Pine Society Member? Click here to watch an in-depth training on goal planning. This workshop will show you how to take your annual goals, break them down to actionable daily tasks, and useful tools on how to hold yourself accountable—interested in the tool? Click here for a step by step guide.