As an entrepreneur, you have big dreams for your business. Sometimes the sheer scale of what you want to achieve and the number of steps it will take to get there can feel overwhelming. And once you begin to feel overwhelmed, you may get scared and back away from pursuing your goals.
You’ve already taken the hardest step and started your business, so now is not the time to shy away from what you want! Jess Tyson, Director of Calm at Don’t Panic Management, talked to us on The Growth Lab Show about time management and making your goals feel more achievable.
Here are some of her suggestions:
Identify Your Goals
The first step to reaching your goals is getting clear about what they are. Start by listing them out. These can be big goals like, “Grow revenue by 5%,” or smaller goals like, “Make sure I stay on top of expense tracking month-to-month.” The size of the goal doesn’t matter, but it is important that you outline clear parameters for what success looks like.
Break It Down Into Bite-Sized Tasks
Now that you know the goals you’re striving for, break them down into their most essential elements. If your goal is to track expenses each month, what are the steps?
The first step is making sure you collect receipts for each business lunch or conference trip. The second step is entering those expenses into your tracking software immediately, rather than letting them pile up on your desk. For a bigger goal like growing revenue, there will be a lot more moving parts, but it’s just as critical to identify them all.
Establish a Timeline
Once you know all of the pieces that will make up your larger goal, establish a realistic timeline for each element. If part of growing revenue is to launch a new social media marketing campaign, that’s not something that you can pull off overnight.
Establish a specific date to work towards – and dates for each of the composite parts – so that you and your team aren’t tempted to push back the deadline on completion. This timeline should be specific and be broken down by year, month, week, and even day.
Assign the Roles
Once you’ve broken down your tasks and set deadlines, determine what pieces you want to take on. This is sometimes tricky because as a business owner, it can be hard to let go of control – you might want to take on everything! In the long run, though, that will just harm your sanity and the project’s success.
Take on those tasks that you can manage and are excited to tackle. Delegate everything else to others on your team, or consider hiring outside help to get all the work done.
Get Rid of the Other Work
Now that you know the big goals you’re working towards, it’s time to get rid of the extra stuff that stands in the way. Sometimes we hang onto habits that made sense for the business years ago but no longer serve a purpose. If there are silly tasks that take up inordinate amounts of your time each day or week, it’s time to get rid of them.
Is there a complicated approval process for onboarding vendors that could be simplified? Do you get a monthly report from your sales team that could be cut down from 15 pages to two? These are the kinds of things you want to get rid of to make room for the work that really matters.
When you’re working towards big business goals, it can be easy to feel overwhelmed. Breaking each goal down into smaller tasks and getting clear about the timeline for each one will empower you and your team to reach for those big business dreams!
Get tips from business owners like Jess Tyson on The Growth Lab Show podcast. New episodes drop every Tuesday along with related Lab Notes - a free downloadable worksheet to help you put what you just heard into practice.