Goal Setting for Entrepreneurs

January 17th, 2018 Tags: Dexter Montgomery, mindset, Pamela Montgomery, transformation
Posted in Time Management

Goal Setting for Entrepreneurs

Goal Setting for Entrepreneurs

Goal setting for entrepreneurs can often be a tedious and time-consuming chore. Many entrepreneurs have this view of goal-setting because they do not see many positive results from the exercise. Have you ever felt that way? You set goals at the beginning of the year, then you set aside the paper with your written goals, and never achieve any results.

If that sounds like you, then you are in the right place. Today, I want to share with you my approach to goal setting for entrepreneurs that is not tedious or unproductive.

1. What is Goal Setting for Entrepreneurs?

Most business experts will tell you that you need to set S.M.A.R.T. goals. These same gurus will tell you that without setting S.M.A.R.T. goals you will never achieve the business and financial success that you desire.  At one point, I wrote an article advocating S.M.A.R.T. goals.

Now, I am ready to explode when I hear the experts talk about S.M.A.R.T. goals.

I have come to realize from personal experience, that S.M.A.R.T. goals can limit you. The biggest goals that I have achieved have come from setting outrageous goals, not S.M.A.R.T. goals. Just think about what S.M.A.R.T. means: Specific, Measurable, Attainable, Realistic, and Time-bound.

While that looks great on paper—and clearly, it is easy to remember—it does not go far enough for those who want to achieve important things. I agree with the premise that goals should be specific, measurable, and timely. However, I do not agree with the other two premises that goals should be attainable and realistic.

2. Does an “Attainable” “Realistic” Goal Inspire You?

Think about it. Do you want to be stuck with “attainable” and “realistic” goals when what you really dream about is a 3-day workweek, frequent international travel, and enough money to fund a college endowment? It seems clear to me that those safe, S.M.A.R.T. goals are not going to get you there.

In fact, they might even do worse than simply “not get you there.” They may actively hold you back.

Have you ever, set a goal to increase your earnings by 10%? That is often viewed as an “attainable” and “realistic” goal. But did that 10% goal inspire you to work harder? Or did it create a subconscious ceiling on your earning potential that you are unable to break through?

When I was 8 years old and I set the goal of becoming a lawyer. No one would have said my goal was “attainable” or “realistic.” Some would say my goal was outrageous. My goal required an expensive college and law school education. Then I would have to take and pass an expensive and tough bar exam before I received a license to practice law. My parents were not wealthy. I did not know any attorneys. But I had a burning desire to help people who were left out and locked out of full and equal participation in our social, legal, and economic systems. Despite, the seeming appearance of my goals being unrealistic and unattainable, I became a licensed attorney at the age of 25.

3. Goal Setting for the Savvy Entrepreneur

The savvy entrepreneur, rather than focusing on goals that are “attainable” and “realistic” knows that the key to incredible success lies in creating lofty goals that feel out of reach—maybe even UN-attainable. Savvy entrepreneurs do not strive to earn 10% more than last year. They want 50% or even 100% more. The savvy entrepreneur stretches herself. She finds new, and better, ways to do things.

Of course, you cannot simply declare crazy goals and expect to achieve them. However, when you shun the attainable goal for the outrageous goal, you push yourself beyond those self-imposed limits and reach for the stars.

Conclusion/Call to Action

Goal setting for entrepreneurs does not have to be a tedious and worthless exercise. When you learn to set the right kind of goals, you can achieve results far beyond your wildest desires. Remember to set goals that inspire you! You have a much better chance of achieving your goal, if it motivates your heart.

At My Biz Dream Team, we can show you how to develop an internet lifestyle business that can help you reach your money goals. Check out The Strategic Pathway to Success Program™. Let us help you accelerate the growth of your business so that you can reach your goal of creating a lifestyle and a business that you love! Act today.

Pamela Montgomery

I am Pamela Montgomery, attorney, author, entrepreneur, and speaker, helping you create the life of your dreams as you achieve uncommon results in your business and in your life.

Also published on Medium.