3 Benefits of Goal Setting for Small Business Owners

Course content (14 lessons)

Goal-setting helps you get clear on what is important to you.

✅ Watch and discover the three benefits of setting goals for your business and for your life.

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[MUSIC PLAYING] Let's talk about the top three benefits of goal setting for small business owners. Number 1 is, when you have goals, you are setting a clear idea on what you want to accomplish. A lot of people go to school and they just say, well, I figured that's a thing I'm supposed to do, but they never know what they want to do and then they end up in careers that had nothing to do with what they went to school for.
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So I want no matter what for you to set a goal. And the benefit is you will know what you need to do to get to that destination. Number 2 is, it gives you a time and action calendar. You start to say, OK, I tried to get here. I went down this path. Well, it didn't work. I went down this path. It didn't work, but this one did. And you start to find a more direct path towards accomplishing that goal.
0:53
And number 3, it also shows you what you really are not passionate about. If you write 10 goals down and you notice that eight of them, you keep moving forward on and you're excited about them, you love your progression but the other two, I don't want to do part of this today. I don't know if I want it, then you know what? When you reset, you realized those two goals were maybe unrealistic because you were doing it for somebody else, you weren't passionate about it, you had the wrong idea.
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Now you start homing in on what is more important to you and your life and your business. I'll give you an example. One of my goals earlier on my career were to own many clothing lines and being able to dress so many other people because I love fashion. But what I realized after acquiring so many brands was I didn't necessarily love fashion.
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I love fashion that empowered people and had a social cause. So if I was just making clothes just to make people look nice, meh, not necessarily important to me. So I reduced my brand and started only having brands that I felt whether empowered the hip-hop community or even investing in brands, such as Bombas socks who every time they sell a pair of socks, they give away a pair to the homeless and they were creating social change and the awareness of the challenge for homeless while making the consumer feel like every time I purchase, I was giving.
2:18
And I decided that point, I don't want any other brands that have nothing to do with giving. And that was because I set my goals. And as I started creating goals, I notice that they started to get bigger. My initial goals when I was a young man at 19 years old creating a brand was I'm going to be able to make my own clothes and have a store in the neighborhood where my friends, my three friends and I can employ ourselves and we'll never have to work for anybody.
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Then the goal became I want to sell to everybody in the country then everybody in the world. And my goal started to change from 20 to 30. My goals went from becoming somebody who was going to be notable in the community and dressing other people in a community to somebody that was addressing people globally. I kept upping my goals. Now that I've shared with you how goal setting can be so powerful, I'm going to share with you how people can fail at goal setting.
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[MUSIC PLAYING]

3 Benefits of Goal Setting for Small Business Owners

Course content (14 lessons)

Overview

01 |Goal Setting Framework

02 |The Follow-Through Formula

03 |Reflect and Reassess