Happy New Year 2018! It is that time of year for New Year’s resolutions and most importantly new annual goals. When looking at an entire year, it can be overwhelming to think about everything you want or must accomplish. It is kind of like eating an elephant. So, how do you eat an elephant? You eat him a bite at a time. In other words, your annual goal must be broken into smaller parts in order to achieve your end result. Your goal should have 6 characteristics. Otherwise, you won’t have a goal but merely a wish.
Follow these 6 characteristics when goal setting:
- Must be Specific
- Must Be Realistic
- Must Be Time Sensitive
- Must Take Action
- Must Be Adjustable
- Must Be Accountable
For Example, let’s say you want to make $100,000 this year in sales commissions. Every widget you sale you make $200 commission. Therefore, you will need to sell 500 widgets in 2018. This may be an overwhelming goal to think about, but let’s break it down. In 50 weeks, assuming two-week’s vacation and holidays, means you must sell 10 widgets per week. If you work 5 days per week, you must sell 2 widgets per day.
But we must break it down further based on your own experience in prospecting and closing. Let’s assume you can close 50% of the prospects you meet buy a widget. You must set 4 appointments per day to sell 2 widgets. Also assume you must talk to 3 people to set 1 appointment. This means you must talk to 12 people per day or 60 people per week in order to meet your goal. Remember prospecting is the only true control you have. Somewhere in every 12 people are 2 daily customers. Now you have a specific, realistic, time sensitive, actionable plan to achieve your $100,000 goal.
Now be ready to adjust for good and bad weeks and to have an accountability partner. Someone who will motivate you, not berate you, into achieving your goal. Lastly, write it down where you can see it every single day. Goals not written down are just simply a wish.
Good luck goal setting and eating your elephant. Next time someone asks you how do you eat an elephant? You answer a bite at a time.
“When it is obvious that the goals cannot be reached, don’t adjust the goals, adjust the action steps.”–Confucius
Image by ddpavumba at www.freedigitalphotos.net
Tim Wilhoit is owner/principal of Your Friend 4 Life Insurance Agency in Nashville, TN. He is a family man, father of 3, grandfather of 2, entrepreneur, insurance agent, life insurance broker, employee benefit specialist, salesman, sales trainer, recruiter, public speaker, blogger, author and team leader with over 30 years of experience in sales and marketing in the insurance and beverage industries.