6 Ways To Stick To Your Annual Business Goals

Dec 28

It's that season, well, it's been a season, to start thinking not about creating your business's 2021 goals (that should have already been done), but to think about your ability to stick to the plan.

I hate the word 'resolution' because it carries too much baggage, mostly from previous resolution failures. Instead, we should call it annual commitments and turn inward to reflect on which areas of our lives and businesses that need the most attention, like consistency, and intention, or playing a bigger game.

So let’s dive deeper to learn more about why resolutions fail and how we can stay better motivated throughout the year so we can stick to those goals.

Reasons Resolutions Fail

They're not specific enough. For example, resolving to "increase revenue" or "grow my business" are easy ways to set yourself up for failure. They lack ways to record progress and are unlikely to keep you motivated throughout the year without specifics.
They lack a timeline. With no forcing function to push you (RE: deadlines), you will very quickly lose motivation. You need a clear start and end date.
They frame the negative. For example, saying 'waste less time' only makes you think of the thing you're trying to avoid.
Establishing goals that aren't about the needs of the business. This is common amongst people who seek validation, like aiming to earn $1M in their second year of business because 'women can do it too’. Hell yeah, women can do it, but setting goals that fall way outside possibility, let alone in line with what you want, means guaranteed failure.
They play small. Fear of growth often stems from doubt, and/or fear of failure, or - even better - fear of success (Gosh, I have been there too.)
They don't write them down. If you don't know what you are working towards and can't review it every day, you will forget. 'Out of sight, out of mind.'

How To Stay Motivated

Get super-specific. During my annual planning workshop, we discussed setting yearly to-the-penny revenue goals and how to break them down monthly so that you can see how to reach your goal and when you need to crank up your sales and marketing. Write down your annual revenue goals, then work backward from there. Also, you will need to:

Set quarterly targets. For example, if you sell creative services and you want to make $200,000 this year, you have to break down your capacity to complete that workload at your current price and determine if you need to increase your prices (you likely do!) So if you have an average 5% MoM (month over month) growth rate, then you'd have to establish your monthly targets so that they add up to $200,000 from your current position. If they don't, think about where you can raise your prices or what other upsell or down-sell will help you achieve your goals.
Frame the positive. Look for the good in your goals. The way we talk to ourselves has the most significant impact on whether we hold ourselves accountable for our actions. Instead of 'waste less time,' aim to 'increase productivity' and set a clear outcome of what that productivity means.
Set goals aligned with your desires. Not to sound all Danielle Laporte on you, but you really need to create plans that set YOUR soul on fire - screw what other people think. If going from $100,000 to $120,000 with more free time next year is an incredible ‘F*ck Yeah!’, then do that.
Make big plans. Not to give you whiplash, as I just mentioned that you need to create goals aligned with your soul and step outside your comfort zone a little. Leap if you must. The happiest and most proud I was of my work were in the moments of discomfort; on a stage in front of hundreds, launching my podcast, asking big-name womxn to be on my podcast, and investing in a high-end content manager.
Write it down. "Written goals have a way of transforming wishes into wants; cant's into cans; dreams into plans; and plans into reality. “Don't just think it - ink it!" - Micheal Korda

There are no external forces that should affect your commitments, only the stories you keep telling yourself about them. You have full control over how and when you achieve those goals and whether you let something or someone else tell you otherwise. Your greatest strength is in your head, your mindset. Can you persevere? Can you defy your own odds? Will you push past the discomfort to break into a different level? This is all up to you.

What are some of your business goal for 2021? Let me know in the comments below.

Header image credit: @paicooficial