“Progress is impossible without change, and those who cannot change their minds cannot change anything.” -George Bernard Shaw
As a coach, it can be frustrating to watch the lack of progress of so many promising entrepreneurs and coaches. They’ve dreamed for so long about creating a solid, sustainable business, and yet, all they do is dream.
You know the people I’m talking about. They 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.
Are they just lazy? No. It’s something worse. They don’t know how to move from a dream to a plan and they’re trapped.
Start with the Long-Term In Mind
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 unusual question. However, as a business owner that might just be the most crucial concern you can have.
Without realizing where you’re going in the long term, it’s difficult to create a plan to get there. You need to know what your target is, so that every day, week, month, and year you can check your progress to be sure you’re still headed in the correct direction.
Create Milestones to Stay on Track
Once you know your end goal, you can create 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 pieces 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 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 $150,000 annually in order to fund your travel plans, and right now you’re earning $60,000, then reasonable milestones might look like this:
- Year 1: $70,000
- Year 2: $85,000
- Year 3: $105,000
- Year 4: $125,000
- Year 5: $150,000
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.
Create Small Goals to Tackle Your Milestones
If you say to someone, you need to move from $60,000 to $150,000 in five years, that’s a pretty overwhelming task. After all, it’s a $90,000 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 formidable.
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 simple 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, or five more of a $50 training program, you’ve already reached your milestone.
That might mean sending one more email to your list, investing an additional $20 per month in Facebook or Google ads, or perhaps reaching out to one more JV partner. The point is, achieving this much smaller goal is far easier than thinking about that five-year plan.
So what’s your big dream? How can you deconstruct it into achievable milestones, workable goals, and finally into daily and weekly tasks? If you can do this (and you definitely can) then you can achieve anything in business and in life.