As we step into a new year, it’s tempting to dive headfirst into setting ambitious goals for our businesses. However, as I’ve worked with business owners, I’ve observed a common pitfall: many entrepreneurs rush to define where they want to go without first understanding where they are. This year, I encourage you to take a different approach.
Know Your Starting Point
Before plotting your destination, it’s crucial to pinpoint your current location. This means gaining crystal-clear clarity on your business’s current state. While all numbers can provide insights, some are more critical than others depending on your specific business. Take the time to identify and understand these key metrics. Whether it’s revenue, profit margins, customer acquisition costs, or other industry-specific indicators, having a firm grasp on these figures will provide a solid foundation for future planning.
Define Personal Success
As business owners, we often blend our personal success with that of our organization. However, it’s vital to distinguish between the two. Take a moment to reflect on what success means to you personally. This definition is unique to each individual and goes beyond mere financial goals. It could involve work-life balance, personal growth, community impact, or any number of factors that resonate with you.
By clearly defining your personal vision of success, you’ll be better equipped to make decisions that align not just with your business objectives, but with your personal aspirations as well. This alignment is crucial for long-term satisfaction and sustainable growth.
Creating Your Roadmap
Once you have clarity on your starting point and a clear definition of personal success, you can begin to chart your course. This approach allows you to:
- Make informed decisions based on real data
- Align business growth with personal fulfillment
- Set realistic and achievable goals
- Create strategies that serve both your business and personal objectives
The Path Forward
As you embark on this new year, I challenge you to resist the urge to immediately set lofty goals. Instead, focus on these two critical steps:
- Gain absolute clarity on your current business metrics
- Define what success means to you personally
By doing so, you’ll be laying the groundwork for a year of purposeful growth and meaningful progress. Remember, success is a personal journey, and by aligning your business goals with your personal definition of success, you’re more likely to create a life you love while growing your business.
Take the time to reflect, analyze, and define. Your future self will thank you for the clarity and direction you provide today.
Ways to Work Together
If you are feeling trapped in your business and not experiencing the freedom you want, here are the two ways we can work together.
One-on-One: Ready to create a business that allows you the freedom you want? We are passionate about our custom solutions and systems for your business. Our approach takes your industry, your unique disposition as a business owner, and your emerging definition of success, and we develop a unique to you plan to move you towards loving your business again. Click the link above to set up a call identify your goals, discuss your current roadblocks, and to ask any questions about working together.
Business Roadmap: This is for the business owner who needs help on what the next thing is to do, and the next 5 steps after that. You don’t need another social media course, email funnel, or sales strategy, but a plan specific to you and your business. You’ll gain clarity on where your business is at, create a plan, you’ll know what to do and what to ignore, along with the resources you need. In the end, you will take that plan and implement, saving you thousands of dollars and years of headache.
A third way, and I know I only said two, but sometimes I can’t help myself. If you are feeling stuck and are in need of resources, reach out. I am happy to point you in the right direction and even provide an asset of my own to help you move forward.
If you find you are feeling overwhelmed in your role as a leader or business owner, and need to gain clarity and a path forward, scheduling a First Steps Consultation may be your next best step. Sign up here
Stephanie German is a business strategist, adjunct professor, and speaker. She holds a master’s degree in organizational leadership and loves giving back to her community in a variety of ways. When she’s not coaching clients or writing about leadership, Stephanie is usually headed to the mountains or the beach with her family, drinking savory wine, or working on the latest project with her husband. Stephanie’s greatest desires are to raise up the next generation of leaders while raising her own children to be strong, independent, and brave. She lives in Fresno, California with her husband Blake and her three spunky daughters, Cara, Kinsey, and Peyton. She is the best-selling author of So Your Boss Can’t Lead?