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PKF Australia

Accountants and Business Advisers

5 steps to start getting you want out of your life

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Chad Russell

Partner

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5 steps to start getting you want out of your life

Posted 21 Feb 17 by Chad Russell

Everyone has goals or at least some sense of what they want to achieve in their life, be it family, financial, or experiential and steps are taken on a daily basis to move towards those outcomes. So why is it that some businesses open the doors and do the same thing they did yesterday?

When driven correctly, businesses are an ideal tool to generate the time and money that you need to achieve your personal goals, so doesn’t it make sense to work out what it is you want your business to achieve and in what timeframe?

Here’s my five simple steps to kick-starting the goals process for your business so you can get on with achieving them:

  • Write your business goals down
  • Make them specific i.e. if you want profit to be $1m, that’s great but what does “profit” mean and in what timeframe do you want to achieve it? Net profit before tax for next financial year will be $1m is specific and unambiguous. (Your strategic plan should work on the how)
  • Link each goal to something that is meaningful to you – On the previous example, why is making $1m important to you? What does that enable you to do? Perhaps the outcome of that second question is in fact the real goal.
  • Share your goals with people around you – They are your supporters, they will help you get there and let you know when you’re doing something that’s pushing you in the wrong direction.
  • Check in and measure how you are going against your goals – It’s fairly easy to negotiate with yourself, so you are more likely to achieve your goals if someone is holding you accountable.

Often in business, the owner isn’t accountable to anyone and complacency sets in. They feel like it’s all up to them and there’s no one to talk to about setting and achieving their goals.

Talk to your advisor; they should be having these conversations with many different businesses in a variety of industries every day and chances are the challenges you are encountering on the way to achieving your goals won’t be too dissimilar to other business owners.

Ultimately it’s not hard, but it is up to you; you need to be passionate, embrace advice and commit to your actions. Everything you do should be moving you closer to your goals, if you are doing something that’s pushing you in the other direction, stop and ask yourself why you are doing it.

Make it easy and achieve your goals sooner – and get in touch if I can help.


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