By now I hope that you have set some specific targets for your business to reach by a specific time (especially your fiscal year end point). You have to have kind of plant that mental flag in the horizon on that mountaintop that you want to reach.
Such clarity not only gives you a tangible target but also propels you forward, guiding your actions both consciously and subconsciously toward that summit.
However, it’s not uncommon to encounter individuals who shy away from goal-setting. Often, the root of this reluctance is a fear of failure and the potential embarrassment that might come with not meeting their goals.
Additionally, I’ve encountered numerous business owners who question the value of budgeting. They argue against the unpredictability of the future or cite past experiences where unforeseen events led them astray from their projected targets.
The late Zig Ziglar claimed that only 3 percent of people have a clear, written set of life goals. He identified four main obstacles to setting goals in his “Goals Planning and Action Guide”:
- Fear: Many fear setting goals due to ingrained self-doubt from persistent negativity in their upbringing, leading to a mindset that manifests as “False Evidence Appearing Real.”
- Poor Self-Image: Linked to fear, a negative self-perception hinders people from envisioning and setting goals for themselves, believing they are incapable of achieving greatness.
- No Buy-In: Some don’t understand the importance of goals or fail to commit fully by not writing them down, resulting in a lack of focus and inefficient use of time.
- Don’t Know How: Others avoid setting goals simply because they don’t know the process, which can initially be time-consuming but becomes easier with practice and guidance, such as that offered in Ziglar’s guide.
Ziglar suggested overcoming these challenges by recognizing their impact, committing to written goals, and learning effective goal-setting strategies.
James Cameron has been quoted to say: “If you set your goals ridiculously high and it’s a failure, you will fail above everyone else’s success”
This quote resonates with me; it grants us the grace to stumble, yet simultaneously spurs us to set ambitious goals that challenge us to extend beyond our comfort zones and demand greater effort from ourselves.
In my role as a business mentor and consultant, I often follow up the question “What do you want?” with inquiries about the deeper motivations driving their ambitions: “Why is this goal significant to you? How will its achievement impact you and what meaning will it add to your professional and personal journey?”
These probing questions serve multiple purposes.
Firstly, they echo the philosophy Simon Sinek discusses — the necessity of a compelling “Why,” a reason substantial enough to anchor your pursuit. Friedrich Nietzsche encapsulated this idea with his quote, “He who has a why to live for can bear almost any how.” Essentially, if your motivation is powerful enough, your dedication to reaching your objective intensifies, significantly enhancing your likelihood of success.
Another critical aspect of these questions is to gauge the client’s commitment to transforming these goals into reality. It’s not merely about setting targets but being resolutely devoted to the actions required to achieve them.
Commitment is a fundamental element in any consultancy role. In my past practice, when I worked on an hourly basis, the commitment from both sides was essential to ensure the longevity and financial viability of my engagements. This was especially true given that my compensation was tied to the number of hours worked.
However, hourly billing presented a challenge that I found increasingly uncomfortable — an inherent conflict of interest between my clients’ needs and my own. Ideally, while I aimed for the swift success of my clients, an hourly model could incentivize a consultant to extend the engagement unnecessarily, which would not align with the client’s best interests.
Recognizing this, I’ve shifted my approach. Now, rather than trading hours for fees, I offer value-based pricing. I charge a significant fee, yes, but in return, I commit to delivering exceptional value, aligning my success with the rapid and substantial success of my clients.
This value-proposition is at the core of my current practice. Yet, the imperative for client commitment remains. It’s critical that my clients are as invested in the process as I am, for their success is my success. Real and lasting business transformation requires a strong, mutual commitment to the journey we undertake together.
As John Assaraf puts it (probably I am paraphrasing here): “Are you interested or are you committed? If you are interested, you will soon enough find excuses for not doing what you need to do. If you are committed, you will do whatever it takes.”
It should all make perfect sense to you that we need a specific outcome that we are working towards, that we feel is truly worthwhile obtaining.
In this newsletter you are reading now, you are your own business coach, so ask yourself what is that goal you wish to obtain. What are the numbers you wish to reach at specific time bound points. Then continue your questions along the lines of why these goals are important to you.
Of course, should you wish some more help directly, I invite you to connect with me via direct messaging here on LinkedIn or by email at support@theautomatedmillionaire.com.
I hope to hear from you and would love to bring you further towards making your dreams come true.
For those not yet ready, just continue following these newsletter editions as I bring more insights into how I help business owners and their teams create wonderful and very successful businesses.
