You know us coaches can rabbit on somewhat about setting and chasing goals, can’t we? Well, only because we have learned (ourselves) and through coaching hundreds of clients to very successful outcomes, that they work; for business goals as well as personal goals, especially when you move from being employed to leading your own new business, your own start-up.
Let’s Talk Coaching is no different. We believe that the quality of the business goals you set and commit to will go a long way to driving you to achieve the outcomes you want.
How Well Did You Achieve Your Goals?
Those in the know, will also know that your goals, including your business goals, need to be in writing. They know that a key success differentiator will be your willingness to share them with someone else! That is so they are visibly out there and not only (safely and secretly) inside your head. And the professionals will go one step further and have someone they know and trust to hold them accountable to doing what it will take to deliver the goal(s), right? This is what I outline in my post Want to Turbocharge Your Goals?.
So can I just get you to sit back for a minute and reflect on your last 5 years please? How well would you say you have achieved the targets, budgets, plans or goals you set?
If you’re happy with your success rate, may I suggest that goal setting may have played its part? And if not, would I be right in suggesting that perhaps goals didn’t play the part they could have? Certainly not in the way I outline above, right?
I can assure you I’d be delighted if you’d write to me and tell me I was wrong, and how you were successful anyway.
So let’s just assume that we’re on the same page regarding the use of goals in driving desirable outcomes, OK?
Going From Your Business Goals To Filling Your Own Sales Funnel
What sort of goals might work best when it comes to aiding someone starting their new business?
In a recent orientation training session we differentiated:
- Results goals
- From activity goals.
Results goals might be your revenue target by the end of this calendar year.
Of course there will be numerous activity goals necessary to get you out of your closet, off the couch and out onto the pavement to do what it will take to generate “suspect” leads. Those leads that you can tip into your funnel to be contacted and turned into “prospects” that have been somewhat qualified as to being interested in what you do or sell.
Why? So you can meet with them to hear what they’re looking for and match it to what you (or your network associates) can help them solve.
You’ll have to work out how many “suspects” you need to create the number of prospects you’ll visit; then you can convert an expected percentage of those into customers or clients that will want to buy your services, right? Of course you’ll map that activity over a reasonable time frame.
Sounds logical, right? Well, how would you like to put some more certainty around that?
A Simple Performance Measure Can Be Your Secret Success Accelerator
You know what one of the best activity goals our clients have realized to be? The number of invoices they generate each month.
Why? Well, revenue can’t happen until an invoice has been presented so it can be paid, correct?
And we can’t raise an invoice until we’ve completed the work a client has agreed to buy, yes?
Which means there was a purchase order or some other form of commitment to proceed, which usually followed a sales pitch or proposal or something similar, right?
Which… blah blah, going all the way back to the funnel.
So if you break down the revenue you are targeting into the number of client activities and rates, you’ll know what you need to do each month to kick the goal that will get you there. I know, this is extremely sophisticated rocket science mathematics, but bear with me, OK?
Have A Go, See How Well It Works For You
So go on, why not take your business plan (what? You don’t have one yet? You really need to talk with one of our NCP members) and extract these base numbers from it and use the number of invoices to create an activity plan the will help you plan all the different activities you’ll need to do to get to your target.
Why? Because if you do, you won’t be wrestling with what I described in Why Does Planning Seem So Hard For So Many?.
Can you see how this very simple goal can become the catalyst that can absolutely drive your business success outcomes? Month by month? Quarter by quarter?
Go on, have a go, see how this might work for you? And if you’re still feeling a little unsure, why not reach out to a member of The NCP and have them hold you accountable to not only achieving, but exceeding your targets?
It’s what we do at the NCP. We take your success personally. Promise