Updated: May 27
As a coach, it can be difficult to witness the challenges of so many promising entrepreneurs and coaches. They’ve dreamed for so long about creating a solid, sustainable business, and yet, the dream is to no avail.
Many attend conferences, sign up for free webinars, buy paid training, and sometimes even work with a coach or two. And yet week after week, month after month, year after year, they fail to make any progress toward their dreams. Sure, nothing just happens, nor does it happen overnight.
But, be encouraged! Business success & longevity is possible with a workable plan.
Plan: Start With the 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 just 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 what your destination is, so that every day, week, month, and year you can check your progress to be sure you’re still headed in the right direction. You are the captain of your ship, steer your efforts in the direction of your intended results!
Prepare: Create Milestones
Once you know your ultimate destination, you can now draft a plan for getting there, and create the interim goals that will help you stay on track.
For example, if in five years you want to be free to travel for 8 weeks every year, then you need to have a few things 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 or virtual assistant, who can manage the business while you’re away
With this list, you can then work backwards from your five-year goal, and create milestones along the way. If you know you’ll need to earn $100,000 annually in order to fund your travel plans, and right now you’re earning $50,000, then reasonable milestones might look like this:
· Year 1: $60,000
· Year 2: $75,000
· Year 3: $85,000
· Year 4: $95,000
· Year 5: $100,000
With these milestones in place, it’s much easier to figure out exactly what you need to do to achieve them, by setting monthly, weekly, and daily goals.
Position Yourself: Create Small Goals
If you say to someone, you need to move from $60,000 to $100,000 in five years, that’s a pretty overwhelming task. After all, it’s a $40,000 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 we have outlined here, your income needs to increase only by $10,000. That’s less than $1000 per month! Surely 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, product line/ service package or five more of a $50 training program, you’ve already reached your milestone. The idea is to explore and create revenue streams that will assist you in achieving your goals.
That might mean sending one more email to your list, or investing an additional $20 per month in Facebook ads. The point is, reaching this much smaller goal is far easier than thinking about that five-year plan. Importantly, be sure your goals are realistic and attainable, as you want to ensure to keep yourself motivated towards goal achievement.
So what’s your big dream? How can you deconstruct it into achievable milestones, workable goals, and finally, weekly and daily tasks? If you can do this (and you definitely can) then you can achieve anything in business and in life.
Are you ready?