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The A, B, C’s of Goal Setting. How to Set Goals. Goal Setting. Before actions are taken, a goal must exist. Two of the most satisfying pleasures human beings experience are accomplishment and achievement. Goals are an integral part of conducting business successfully.
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The A, B, C’s of Goal Setting How to Set Goals
Goal Setting • Before actions are taken, a goal must exist. • Two of the most satisfying pleasures human beings experience are accomplishment and achievement. • Goals are an integral part of conducting business successfully.
What is the Definition of a Goal? • “A Goal is an end toward you direct some specific Effort.” • What are goals? • Action verbs • Measurable outcomes • Specific Dates for accomplishment • Cost and time constraints
How do you Set Goals? • When you answer the questions Who? What? When? How? And How much? Of a particular activity, you have the basic material for setting goals. • Goal setting is a sequence of events that leads to the creation of achievable goals that creates positive results
How Do You Set Goals • In order to create goals, It is important to know the difference between goals, missions and objectives. • What is a mission- A general statement that specifies the overall strategy or intent that governs the goals and objectives. • Defines your cause and provides direction for goals.
The A, B, C’s of Goal Setting • What are objectives • Objectives are tactics used to reach or achieve goals • A road map used to achieve the goal • They must be complementary to the goal and mission
Goal Setting is a Four-Step process • Step 1- identify opportunities for goals. • Personal Desires • Go to Bahamas • Learn to play golf • Business Desires • Increase sales • Increase GP
These desires or opportunities fall under types of Goals • Concrete- new home, car, more money etc. • Intangible-Personal characteristics that should be developed or improved upon to better our lives. • Short-term- From a day, week, month or six months. • Long-term-Range from one year, five, ten years etc.
How to Set Goals Step-one • Let’s create a goal • “I want to sell $70,000 in January.” I want to be salesman of the month. • What type of goal is this? • Concrete • What is the Mission • To be salesman of the month
How to Set Goals Step- Two Writing Goal Statements • A goal statement answers: • What is to be accomplished • Whowill be involved • When the activity will be completed • How much cost resources will be used
Writing Goal StatementsStep- Two • The S.M.A.R.T. way to write a goal statement includes all the elements of a well-defined goal. • Specific- Detailed, particular or focused. • Measurable-Quantifiable, comparable • Action oriented-Performance produces results. • Realistic-Practical, achievable • Time and cost constrained-Regulated by time and resources
Writing Goal Statements Step-two • Let’s continue with our goal and write a goal statement using the S.M.A.R.T. process. • Identify the goal- Sell $70,000 • Type of goal-Concrete • Mission- To be salesman of the month • “I will increase my monthly sales from $40,000 to $70,000 by January 31st 2004. I will average 10 appointments a week. This will award me salesman of the month.”
Writing Goal Statements Step- Two • Specific- Sell $70,000 • Measurable-From $40,000 to $70,000 • Action-oriented- Increase, average • Realistic-$70,000 realistic. • Time and cost constraint-By January 31, 2004, averaging ten appointments a week.
Develop Goals Step-Three • You should complete goal development for every goal statement created. There are five steps to developing goals. • 1. Classify goals by type • 2. Prioritize within each type • 3. Establish standards of performance • 4. Identify obstacles to goal achievement • 5. Determine “W.I.I.F.M.
Develop Goals Step-Three • Classify Goal Types • Concrete • Intangible • Short-term • Long term
Develop Goals Step-Three • Classify Goal Types • Essential- required for the operation of the business. Must do • Problem-solving-identifies a less than ideal condition and a proposed solution-ought to be done • Innovative-Nice to be done
Develop Goals Step-Three • Prioritize your goals • If you have more than one goal statement, determine which are the most important • Rank your goals within each type based on relative importance, time sequence, and cost/benefit relationship.
Develop Goals Step-Three • Establish standards of performance. They should include: • A time for review of progress-sales meetings • A quantitative method of determining progress-lead sheets looked at weekly # of appointments, closing ratios, average jobs • Minimal • Acceptable • Outstanding
Develop Goals Step-Three • Obstacles- Identify all obstacles that will prevent you from reaching your goals • Weather • Lead flow • Personal problems • Have a contingency plan for overcoming obstacles,
Develop Goals Step-Three • Determine W.I.I.F.M. • There must always be a personal motive to ensure goal achievement. • What are the rewards or personal recognition • Money • Plaques • Status • Promotion
Formulate Action Plans Step- Four • Create a Goal Action Form. It should include the following: • Block 1 -Write the Goal Statements created in step-two using the S.M.A.R.T. goal elements. • Block 2 Mission for this goal-What is the benefit, Why? opportunity identification. Include the W.I.I.F.M. Goal type
Formulate Action Plan Step-Four • Block 3 –Objectives -Road map. List specific objectives, measurable steps • For example-Knock 30 doors per week • Appointments/week • Closing ratios • Average job size • Deadlines-time limitation allowed for the completion of objectives and the goal.
Formulate Action Plan Step-Four • Block 4 Projected Result • These are the success indicators that indicate progress and/or completion of the objectives and the goal. • Immediate • Long-term • Block 5 Obstacles-List all the factors that may prevent you from achieving your goal. List a contingency plan.
Formulate Action Plan Step-Four • Block 6 Cost and Time constraint-Scheduled; regulated by time and resources to be expended. • January 31,2004 • Ten appointments/week • Block 7 Person Responsible • Block 8 Completion date