How to outperform 99% of Entrepreneurs
Nov 03, 2023
In a world where everyone wants immediate results, it's the ones with a long-term mindset and consistent action who outperform 99% of people in their chosen endeavors. And the secret to following that long-term path? Structured, strategic planning.
Let me share with you how I approach planning for my own businesses.
Goals (Decades): First and foremost, I focus on my big, long-term goal or mission. I see it as something that will take me decades to achieve. For me, it's all about building popular, successful brands.
Strategy (Yearly): Every year, my strategy revolves around bringing me closer to that ultimate goal. I set what I like to call "BHAGs" (big, hairy, audacious goals) that inform everything I do throughout the year. But setting BHAGs is not enough - you need a framework to give yourself the best chance for success. I use the SMART goal framework, meaning my strategic goals are Specific, Measurable, Achievable, Relevant, and Time-bound. For example, this year one of my goals was to implement a management structure into our group of brands, which we have achieved.
Tactics (Quarterly): Each quarter presents an opportunity for me to review, refine, and execute specific tactics that align with my yearly strategy. It's all about identifying the top 20% of actions that yield 80% of the results. For me, it was about implement clear content strategies to grow our audiences for our brands, as well as this HFA newsletter audience.
Effort (Daily): The daily grind is where the magic happens. It's about committing to the non-negotiables, such as creating and sharing valuable content, engaging with our community, and learning from feedback. Each day is a stepping stone toward achieving my ultimate mission. To keep myself on track, I rely heavily on my Google calendar. I schedule specific tasks every day that support my mission, whether it's meeting with team members, setting time aside for strategy sessions or helping the team in production.
By following this disciplined, structured approach, we've been able to outlast lots of new businesses starting in this sector. It's not about blind hustle, but rather a long-term commitment to your goals. Reaching big success as an entrepreneur requires dreaming big and making step-by-step plans. That's where the SMART goal framework and daily effort come in. They provide a simple, organised path that keeps you focused and motivated, even when faced with the inevitable challenges of running your own business.
So, as you embark on your own journey, I encourage you to embrace this approach. Set long-term goals, strategise annually, plan quarterly, and commit to daily action. Let the SMART goal framework be your guide as you navigate the ups and downs of entrepreneurship. With perseverance and dedication, you'll be well on your way to achieving your mission and making a lasting impact.
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