January 2017

How to Own What Matters Most To Your Business

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Growing revenue should be the most important task for every business. If your business is not growing, a competitor’s will be and they are taking customers away from your company. If you are running a Fortune 100 company, the majority of your time should be spent creating products and sales channels to generate revenue.  If you are an individual entrepreneur, the majority of your time should be spent on income-producing activities.  The biggest key in growing your sales lies in first knowing who owns that responsibility and having the proper systems in place to hold the organization, or yourself, accountable for the growth goals.

Accountability. How did such a great concept get such a negative reputation? Inefficient leaders and poor managers have wrapped it in a veil of negativity and used it as the enforcer of responsibility. We complain about it at work, and in our personal lives; think about your family budget or weight loss goals. Usually, it is discussed as a virtue that is lacking in others. However, it is part of the planning process that will position you to reach your business goals. What turns the fun activity of goal setting into the not as much fun implementation of the business plan is facing the fact that someone has to be responsible for the outcome.  For all important business tasks, ownership and accountability have to be in place and individuals have to be willing to be held responsible for the outcomes assigned.

The most common misconception about accountability is the difference that exists between excuses and responsibility.  If you look at the companies and individuals who achieve great results over a long period of time, they all know the difference between having success and being effective. You can have short term success and then reach a very difficult obstacle and not be effective in growing past those difficult circumstances. In order for individual leaders to be effective in the long term, the most important factor is not how they place blame, but rather it is based on their ability to take responsibility for what they can own. In taking responsibility for the outcome, effective leaders are empowering themselves to develop new personal traits and skills needed to commit to take action and place their business’ growth back on track.

Nothing should stop your dream of building an incredibly successful business.  The growth of your business is what matters most. Here are four principles of accountability that need to be in place to ensure your company will reach its goals:

  • Designate the individuals who are responsible for growth in your company
  • Build precision in your budget and determine how each dollar spent will impact your growth
  • Create proper incentives and ramifications for the individuals who own your growth goals
  • Identify the right benchmarks to track the progress of reaching your growth goals

Feeling sorry for yourself or placing blame won’t correct your missteps. However, there is a great sense of self-empowerment when you realize that you have the ability each day to decide to hold yourself accountable.  No longer are other people’s actions and perspectives a deterrent to your achievement. No longer can we use work, relationships or others as an excuse to not achieve. It is all up to you and your actions. What a wonderful discovery! The decision is yours, the vision is yours, the actions are yours, and you are accountable for you.

Think of accountability not as a negative activity to be shunned, but rather as a valuable coaching tool to help you grow. Top executives, athletes and sales individuals all understand that to truly excel they need a confidante, a coach who cares about their success and helps them succeed. If you are looking to learn more about how coaching can help your real estate business, visit our website.

Best wishes!

Peter

Why Most Businesses and Individuals Don’t Reach Their New Year Goals

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As the New Year begins, there is never a shortage of newly developed business plans and individual resolutions that are built and created.  Each time I go online, a new social media post or article will pop up addressing the importance of goal setting, offering motivating tips and techniques on setting goals for your business, career or personal life.  In a recent google search I conducted for the term ‘goal setting’, the search produced 15.9 million results!  There is definitely not a shortage of information on how to set goals and build plans.  What there is a shortage of, is people and enterprises that actually reach their goals.

It’s not setting goals, building business plans or creating New Year’s resolutions that are the problem, it’s knowing what the real obstacles are that you are going to have to overcome that keeps people from achieving the results they desire.  Whether you are setting S.M.A.R.T. goals (Specific, Measurable, Achievable, Realistic, Time-Based) or B.H.A.G. (Big Hairy Audacious Goals), if you do not know what hurdles you will be encountering you won’t know the proper steps  to take to leap over them. You can do a lot of things right with regards to staying positive, taking care of your health, visualizing your success, having an accountability partner and still end up short of reaching your goals. Without conducting the proper research of the obstacles you will encounter during your journey, you will become either discouraged or unprepared to reach your desired outcome or win against your competition when you reach the difficult part of executing your plan.

It’s not only important to know what to do to reach your goals, it is equally important to know what the real obstacles will be to reach your goals that far too often are overlooked.  Not understanding the difficulties of achieving a worthwhile goal leads people to underestimate what actions are required to accomplish their goals. Most people have no challenges with dreaming big, they are challenged with understanding how much work is needed to overcome the unidentified obstacles they will encounter along their journey. However, you can overcome this universal goal setting deficiency with proper research that identifies the obstacles ahead of you and gives you insight on actions to take to overcome those challenges.

Through research you find out who and what you are competing against. What is the result that matters and what relevant skills will you need to develop to achieve the goal. It does not matter whether it is for advancing your career, launching a new business, or losing weight; proper research is the first step to get you on the right path to success to reach your goal. Research also helps you identify the pitfalls to avoid. It allows you to know what has been done before, and what the needs, rewards, trends, and new developments are. You can also discern what to learn and what to avoid. Good planning is a component of research. Sounds simple enough, but how much time do we spend researching and planning versus just having a plan. A plan and planning are two distinctly different items. Research is a part of planning that educates and provides you an organized format for both the goals you want to achieve and identifies the obstacles you will encounter along the way.

Napoleon Hill, in his bestselling book, Think and Grow Rich, wrote, “Anybody can wish for riches, and most people do, but only a few know that a definite plan, plus a burning desire for wealth, are the only dependable means of accumulating wealth.” It is human nature to want better, but why do so many people get off track? Just because you wish it, just because you want it, just because you think it doesn’t mean you will get it. You need to have a definitive process to follow that allows you to get to where you want to go.  That process includes setting goals, developing action plans and properly identifying the real obstacles you will have to overcome during the course of the year.

It’s a new year, and instead of just following the advice and expert opinions on how to set goals, positon yourself for a breakthrough year and also take the time to learn what key obstacles you will have to overcome to reach your annual goal.  In order for you to accomplish something significant in 2017, it will require a lot of work.  In fact, it will most likely take more effort than you realize.

What strategies, resources, time commitment and skills will be required for you to have the transformational year you have outlined in your annual plan?

Peter