Family-Owned Business: 7 Steps to Crushing Goals

Family-Owned Business: 7 Steps to Crushing Goals

Do you set goals and struggle to stay focused in on them by the end of Q2 and Q3? Are you being realistic with yourself? Are you setting goals into smaller components? Are you convicted about your service or product? Do you know your purpose, vision, and passion for what you do every day? Are you OWNING your goals? If you say no to any of these questions this blog is for you.

Here are seven steps to help you crush your goals. It’s broken down from our mindset all the way to creating goals with logical numbers and expectations.

Step 1: Find your purpose.

This is more than finding your why. It’s more than the generic answer we give ourselves and others that we want to serve and help people or make more money. ITS MORE THAN THAT! If you don’t have a burning desire or something that motivates you so much that it DRIVES you to prospect or set more appointments than your purpose is not strong enough. This is when you need to sit down with a cup of coffee, in a quiet spot and reflect. Dig in deep on what in the pit of gut drives you to succeed. If you still can’t find what that is… well this is where a coach may be beneficial.

Step 2: Are you convicted?

You can’t be half in, you have to be all in. You can’t just go through the motions and really crush goals. When you just go through the motions you may hit a goal, but you’re not stretching yourself to really live a life you love. Be committed.

Step 3: Are you bought in?

How far are you willing to go? What are you willing to give up, willing to do or willing to rebuild your business to get where you want to go? Working in what we call Harvest Periods is crucial. There are times in our business where we have to work a little harder, a little longer than normal to maximize your leverage. Examples are realtors or loan originators, they typically are working longer hours and are busier from April to October. This would be their Harvest Season because the other months they can typically come up for air. So are you bought in and ready to have some sacrifice to make it happen?

Step 4: Get your mind right!

This step is crucial. The father of modern psychology William James once said, “Human beings can alter their lives by altering their attitudes of mind.” Are you listening and saying your affirmations daily? What limiting beliefs have you bought into? What rational – LIES -ations are you believing? How are you going to overcome those limiting beliefs and lies that Mr. Mediocrity is telling you? If you don’t have your mind right it’s going to be a tough uphill battle to overcome the “No’s” and “let me think about it.”

Step 5: Create your plan

This step we are breaking down the numbers, your ratios, getting your leads organized, making sure your follow up systems are locked and loaded, you are gathering your referrals, what’s your minimums, you have your tracking system up and going and your CRM is updated. What are your goals? Do you know your ratios? IF you don’t know your ratios work with your team leader to find out your IPA’s (income-producing activities) or your KPI’s (key performance indicators.) What’s your closing ratio? Dial to reach ratio? Referral to appointment ran ratio? Appointment set vs. appointment ran ratio? Once you know your ratio’s you can reverse engineer the goals and figure out what you need to daily, weekly and monthly to crush it.

In this planning time, you are being a student of the game. Do you PDR – practice, drill and rehearse your close, your presentation, answering objections, asking for referrals, etc.? Are you listening to books, reading, and learning on how to improve your SKILLS?

Step 6: Do the activity

Now we are doing prospecting, we are making dials, setting appointments, running appointments, networking, holding presentations, asking for the business. Making sure your schedule is amazing each week with time to do 60%-70% income producing activities is key. Do you have enough time to prospect, do appointments, network, get referrals, etc. Accountability is key here as well. Who is holding you accountable? When was the last time you have done a time awareness log and take a hard look at your day, week, month? If you don’t have a big enough pipeline what is your plan to increase your leads or clients?

Step 7: Set Your Rewards and Consequences

What happens when you don’t do the activity? In the book Crucial Accountability they talk about how motivation is about expectations, information and communication. Motivation is brain driven. People choose their behavior and motivation is influenced by an infinite number of sources from within and without. So we need to explore natural consequences and consequences provide the force behind all behavioral choices. If you do hit your goals how do you reward yourself. Are you way motivated or toward motivated? It’s important to choose consequences for you not hitting your goals and you must choose a reward too. Now the consequences you can have fun with – you can wear your arch enemy team’s t-shirt and post it on Facebook, you may have to buy your boss dinner, mow your neighbors grass… have fun with it but make it something that would be painful.

Now that we have covered the seven steps. Take time to think, process, plan and be strategic with your plan. Good luck! Cheering for you!

If you are leading a family-owned business and know you may need some extra coaching to get your business to soar, CONTACT ME.

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