The A, B, C’s of Goal Setting

How to Set Goals

Goal Setting

• Before actions are taken, a goal must exist.

• Two of the most satisfying pleasures human beings experience are accomplishment and achievement.

• Goals are an integral part of conducting business successfully.

What is the Definition of a Goal?

• “A Goal is an end toward you direct some specific Effort.”

• What are goals?– Action verbs– Measurable outcomes– Specific Dates for accomplishment– Cost and time constraints

How do you Set Goals?

• When you answer the questions Who? What? When? How? And How much? Of a particular activity, you have the basic material for setting goals.

• Goal setting is a sequence of events that leads to the creation of achievable goals that creates positive results

How Do You Set Goals• In order to create goals, It is important

to know the difference between goals, missions and objectives.

• What is a mission- A general statement that specifies the overall strategy or intent that governs the goals and objectives.– Defines your cause and provides direction

for goals.

The A, B, C’s of Goal Setting

• What are objectives– Objectives are tactics used to

reach or achieve goals– A road map used to achieve the

goal– They must be complementary to

the goal and mission

Goal Setting is a Four-Step process

• Step 1- identify opportunities for goals.– Personal Desires

• Go to Bahamas• Learn to play golf

– Business Desires• Increase sales• Increase GP

These desires or opportunities fall

under types of Goals• Concrete- new home, car, more

money etc.• Intangible-Personal characteristics

that should be developed or improved upon to better our lives.

• Short-term- From a day, week, month or six months.

• Long-term-Range from one year, five, ten years etc.

How to Set Goals Step-one

• Let’s create a goal• “I want to sell $70,000 in January.”

I want to be salesman of the month.

• What type of goal is this?– Concrete

• What is the Mission– To be salesman of the month

How to Set Goals Step- Two Writing Goal Statements

• A goal statement answers:– What is to be accomplished– Who will be involved– When the activity will be

completed– How much cost resources will be

used

Writing Goal StatementsStep- Two

• The S.M.A.R.T. way to write a goal statement includes all the elements of a well-defined goal.– Specific- Detailed, particular or focused.– Measurable-Quantifiable, comparable– Action oriented-Performance produces

results.– Realistic-Practical, achievable– Time and cost constrained-Regulated by

time and resources

Writing Goal Statements Step-two

• Let’s continue with our goal and write a goal statement using the S.M.A.R.T. process.– Identify the goal- Sell $70,000– Type of goal-Concrete– Mission- To be salesman of the month

• “I will increase my monthly sales from $40,000 to $70,000 by January 31st 2004. I will average 10 appointments a week. This will award me salesman of the month.”

Writing Goal Statements Step- Two• Specific- Sell $70,000• Measurable-From $40,000 to

$70,000• Action-oriented- Increase, average• Realistic-$70,000 realistic.• Time and cost constraint-By January

31, 2004, averaging ten appointments a week.

Develop Goals Step-Three

• You should complete goal development for every goal statement created. There are five steps to developing goals.– 1. Classify goals by type– 2. Prioritize within each type– 3. Establish standards of performance– 4. Identify obstacles to goal achievement– 5. Determine “W.I.I.F.M.

Develop Goals Step-Three

• Classify Goal Types– Concrete– Intangible– Short-term– Long term

Develop Goals Step-Three

• Classify Goal Types– Essential- required for the

operation of the business. Must do– Problem-solving-identifies a less

than ideal condition and a proposed solution-ought to be done

– Innovative-Nice to be done

Develop Goals Step-Three

• Prioritize your goals– If you have more than one goal

statement, determine which are the most important

– Rank your goals within each type based on relative importance, time sequence, and cost/benefit relationship.

Develop Goals Step-Three

• Establish standards of performance. They should include:– A time for review of progress-sales meetings– A quantitative method of determining

progress-lead sheets looked at weekly# of appointments, closing ratios, average

jobs • Minimal• Acceptable• Outstanding

Develop Goals Step-Three

• Obstacles- Identify all obstacles that will prevent you from reaching your goals– Weather– Lead flow– Personal problems

• Have a contingency plan for overcoming obstacles,

Develop Goals Step-Three

• Determine W.I.I.F.M.– There must always be a personal

motive to ensure goal achievement.– What are the rewards or personal

recognition• Money• Plaques• Status• Promotion

Formulate Action Plans Step- Four

• Create a Goal Action Form. It should include the following:– Block 1 -Write the Goal Statements

created in step-two using the S.M.A.R.T. goal elements.

– Block 2 Mission for this goal-What is the benefit, Why? opportunity identification. Include the W.I.I.F.M. Goal type

Formulate Action Plan Step-Four

• Block 3 –Objectives -Road map. List specific objectives, measurable steps– For example-Knock 30 doors per week– Appointments/week– Closing ratios– Average job size

• Deadlines-time limitation allowed for the completion of objectives and the goal.

Formulate Action Plan Step-Four

• Block 4 Projected Result– These are the success indicators that

indicate progress and/or completion of the objectives and the goal.• Immediate• Long-term

• Block 5 Obstacles-List all the factors that may prevent you from achieving your goal. List a contingency plan.

Formulate Action Plan Step-Four

• Block 6 Cost and Time constraint-Scheduled; regulated by time and resources to be expended.– January 31,2004– Ten appointments/week

• Block 7 Person Responsible• Block 8 Completion date

Goal Sheet

Q&A