What the Top 3% of Business Owners Do…that the Rest DON’T

March 14, 2014 | Roger and Susie Engelau

Here’s a bone-chilling statistic for you: just 3-5% of business owners earn considerable wealth.

That means that 95-97% don’t.

95-97% of business owners struggle year in and year out to keep things moving forward…to create opportunities and income…to bring their businesses to the place where they really want it to be.

So what’s the difference?

What do the top 3% of business owners do to separate themselves from the pack?

The answer is extremely simple.

They set powerful goals.

It might sound cliché, but it’s absolutely true.  The world’s highest achievers get to where they are because they’ve mastered the art of setting and keeping goals.  And not just any goals: meaningful goals.  Goals that keep them moving forward, that challenge them to greater heights.

You’ve heard of “SMART”goals?  Here’s how to set—and keep!—goals like the top 3-5% of business owners:

1. Specific. Specific goals are clearer and easier to achieve than nonspecific goals. When writing down your goal, ask yourself the five “W” questions to narrow in on what exactly you are aiming for. Who? Where? What? When? Why?

For example, instead of a nonspecific goal like, “get organized,” a specific goal would be, “set a schedule and stick to it, maintain an up to date task list, and by Mar. 30, implement a standard filing convention for digital and paper documents .”

2. Measurable. Measurable goals help you clearly see where you are, and where you want to be. You can see change happen as it happens. They make it easier to create an action plan or identify the steps required to achieve your goal. You can track your progress, revise your plan, and celebrate each small achievement. For example, instead of aiming to increase revenue in 2014, you can set out to increase revenue by 30% in the next 12 months, and celebrate each 10% along the way.

3. Achievable. Goals that are achievable have a higher chance of being realized. While it is important to think big, and dream big, too often people set goals that are simply beyond their capabilities and wind up disappointed. Goals can stretch you, but they should always be feasible to maintain your motivation and commitment.

For example, if you want to complete your first triathlon but you’ve never run a mile, you’d be setting a goal that was beyond your current capabilities. If you decided instead to train for a five mile race in six months, you’d be setting an achievable goal.

4. Relevant. Relevant — or realistic — goals are goals that have a logical place in your life or your overall business strategy. The goal’s action plan can be reasonably integrated into your life, with a realistic amount of effort.

For example, if your goal is to train to climb to base camp at Mount Everest within one year and you’re about to launch a start-up business, you may need to question the relevance of your goal in the context of your current commitments.

5. Timely. It’s essential for every goal to be attached to a time-frame — otherwise it’s merely a dream. This’ll keep you motivated and committed to your action plan, and allow you track your progress.

Want help setting goals for yourself and your business? Attend my Growth Plan Workshop and step out of the day-to-day business to get organized, complete a prescribed planning process, and walk away with an action plan.  In this fast-paced session, you’ll complete a 1-Page Strategic Plan, then break it into quarterly, monthly, weekly, and daily goals. Get a line-of-sight from daily tasks to your 10-30 year purpose.

Enroll now in Growth Plan Workshop.

In the 7-hour Growth Plan Workshop (including a delicious hot lunch!), you’ll get…

  • A clear picture of where you want your business to be in 10-30 years…3-5 years…90days…and what you need to do TODAY to get you there
  • Your yearly goals broken into bite-sized action items
  • The forward progress you need to reach the objectives you’ve set out for yourself

Click here to reserve your seat. http://growthplanworkshopmar28.eventbrite.com

Growth Plan Workshop:  Fri, Mar. 28, 2014  from 9:00 —4:00pm

The Hilton Garden Inn Indianapolis Airport, 8910 Hatfield Dr., Indianapolis  46231

Cost is $247 at the door, $187 in advance, and FREE for clients.  And if you register by 3/22/2014, you can join as an early-bird for just $97.