Generations Law - January 2020

The Business Brief

January 2020

Get SMARTER About Your Goals

want to lose a pound and a half next week and then a pound and a half the next week is much more specific, and therefore, more likely to work. The M stands for Measurable. Setting a goal you can’t measure is like driving without a destination. How will you know when you’ve arrived? You need to be able to quantify the result of your goal. This way, you set yourself up to track your progress and stay motivated as you move toward your target. The A stands for Actionable. Your goal should begin with an initiating verb that prompts specific activity. Using clear language in your goals like automate and eliminate helps you stay on track with the specific actions required. The R stands for Realistic. You have to recognize that it takes time to reach certain goals; you have to be realistic, or you'll end up giving up. Probably the most classic example of an unrealistic goal is the New Year's resolution to work out five days a week. You join a gym and you show up for two or three weeks and then you miss a day, and then you miss another day and before you know it, you're not going to the gym anymore. You expected immediate results because that's just human nature. If you don't recognize that not everything is achievable, then you're probably going to miss your goal. The T stands for Time-bound. You have to have a specific deadline. For most goals, you're going to want to have interim deadlines, like losing a certain

Goals provide direction, motivation, and a clear way for you to measure your business’s and team’s progress, making them instrumental to growth. Studies suggest that a written goal list is best. According to Forbes.com, people who write down their goals are anywhere from 1.2–1.4 times more likely to accomplish them than people who do not write their goals down. Writing goals down not only ensures an external reminder of what you want for yourself, but it also signifies to your brain that the goal is important enough to remember. By writing your goals down, you keep them front and center in your mind. Make goals that prevent burnout. Work-life balance is important if you're going to prevent burnout, and if you’re a small business owner, it’s a very real risk. It’s essential to keep your personal life in mind, even when you’re establishing goals for your business. You should create a means for achieving your life goals and ensure your life and business goals coordinate with each other. What is the SMARTER model and why is it effective? Business guru and consultant Michael Hyatt developed a model for goal setting that he calls the SMARTER model. Each of the letters stands for an important part of any goal-setting strategy. The S stands for Specific. You need to identify exactly what you want to accomplish. For example, writing that you want to lose 10 pounds this year is not specific enough. Writing that you

amount of weight each week. Time frames help us stay accountable and on track with our goals. The E stands for Exciting. Your goals need to spark passion if you're going to persist in achieving them. If they don’t, you’ll find it much harder to succeed. The R stands for Relevant. You have to make sure your goals are appropriate for your particular situation. That means that if you just took on five new clients and your business is growing faster than you can keep up with, it might not be the best time to work actively on your goal of becoming a better home cook. Those focuses counteract each other, and you’d be better served to spend your limited free time on a goal more appropriate for the current season of your life. Whether you contact us or another good business lawyer, you should hire a lawyer to assist you in setting your business goals. Lawyers provide a confidential sounding board as you think through your goals, and our years of experience can help you identify opportunities and develop a plan that maximizes growth while minimizing risk. For more information about setting your business goals, contact my office. The best number to reach me at is 208-401-9300. You can also visit our website GenLawGroup.com and book an appointment for a complimentary meeting.

–Tom Walker

1

WWW.GENLAWGROUP.COM

Published by The Newsletter Pro | www.TheNewsletterPro.com

www.genlawgroup.com

Made with FlippingBook - Online magazine maker