Goal Setting for 2nd year entrepreneurs

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Today I’ll be sharing a post that is part of the ‘Laser Launch blog party‘, run by Halley from Evolve and Succeed, the topic being Second year entrepreneurship”.

In order to keep myself on my toes this year, in terms of both consistency and passion, I coached myself through 3 simple steps and it is now my hope that this will be a tool that you as well as many 2nd year entrepreneurs will find useful.

For me, just entering this phase of my 2nd year as a business owner, I am both exciting and of course slightly apprehensive too. My first year of entrepreneurship was in every sense a roller-coaster ride. I bounced from having no clients to too many, I started new programs that got great reviews, launched big projects that never took off, and learnt so much along the way.
The first year, or season, of starting something new is always exciting, bringing with it new challenges, ways of thinking, relationships and personal growth points. Going into my second year as a business owner, the two main things that I will be focusing on will be consistency and passion.
If there is one thing that I learnt last year, it was that as much as clients/online followers love variety, they love consistency more. People thrive off stability, and as a business owner, I get to offer that to my clients. I get to present not only a brand that is consistent but a person behind the brand who remains the same. As I mentioned in my blog series post ‘Tips for starting your own Creative Business last year, people buy into who you are and why you do what you do, not what you do. Yes, they see the what everyday, but it is the who and the ‘why that keeps them coming back for more. Consistency is key to success.
As much as remaining consistent will be vital for me and my business this year, maintaining passion I believe outweighs all other business goals. Getting to a point when you decide to start your own business is usually fueled by ideas, talents and a whole lotta passion. Your first year as a business-owner has you on a passion-high, with you daily coming to grips with the idea that your passion for something is now earning you money. Your passion to make a success out of something, that lies only in your hands, is so real and so tangible that you cannot but help working late nights, talking about your business in every spare moment you can sneak in a few words and filling your thoughts on your morning runs {or is that just me}. But going into year 2 means that by now things have likely somewhat settled down. Your product or programs are either succeeding or they aren’t, you’ve create a routine – something that works for you…and routine often has a dulling effect on passion.
In order to keep myself on my toes this year, in terms of both consistency and passion, I coached myself through 3 simple steps and it is now my hope that this will be a tool that you as well as many 2nd year entrepreneurs will find useful.
 
Step 1: Review 2013
 
The first thing you need to do is to review your past year. This means finding a quiet space, taking out either your laptop or a piece of paper and realistically writing a personal business review for 2013.
Reflect on things like:
–      Is your business aligning with your values?
–      Product/ Service analysis
–      Is your business aligning with your ideal lifestyle?
–      Financial analysis
–      Marketing analysis
 
Step 2: Room for growth
 
Now,write down a list of things, within each section of your review, that you want to improve on this year. I.e: Financial Analysis: Expenses; Products: Revise and improve current workbooks, etc. You will use this list to help you create your goals for 2014 in the following step!
Step 3: Set goals for 2014
Use my ideas below as a basic guideline for categorizing your business goals for 2014:
– Product/service Goals {Include both improving products/services as well as what new products/ services you hope to launch}
– Financial Goals {Be as specific as possible. Personally, I break this down into months as well as sections within each month}
– Marketing Goals {This is such a vital part of every business and their success levels. Spend some time reflecting on what you can do to improve your current marketing plan, or if you don’t have one yet, then consider creating one}
– Job Satisfaction Goals {Think lifestyle, work/life balance, relationships at work}
– Personal Goals {This is for YOU, and is as important as career goals. Think in terms of your passions/ interests. i.e – run a marathon, take up canoeing, start playing the piano more, etc}
Ensure your goals are:
1.    Specific (Be as specific as you can when detailing your goals for 2014)
2.    Measurable (Ensure that you will know when you have achieved a goal, ie – create a measure for each goal)
3.    Attainable (Create goals that stretch you however still remain within your reach)
4.    Relevant (It’s easy to set a goal that you know you should set but actually don’t feel passionate about at all. My suggestion is either to scrap the goal entirely if it really isn’t for you at all, however if it just very daunting, then consider changing the wording of this goal into positive language. I.e – Instead of lose 5kg’s, rather – start eating healthy meals 5 days a week)  
5.    Time- bound (Set a time span for each goal – when you will achieve this goal by)
To all the entrepreneurs out there, best of luck for 2014!!!! I’d love to read your comments below and would be more than happy to help where I can. 
 

1 Comment

  1. Megan Keith on January 13, 2014 at 9:33 am

    Hi Caitlyn

    I’ve just read this blog post now and found it to be so inspiring! If you were to host a workshop in Durban in April, I’d definitely be interested in attending! I have a few ideas/dreams I’d like to see come to something more in 2014 and this post has helped me put it all into some kind of order! Thank you!

    Megan

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