How to Breakdown Your Goals To Achieve Success
What’s your vision for your business? A year, five, ten years from now? Where do you see yourself, what success do you hope to have achieved? Whatever your goals might be, having a business strategy that prioritises and places plans in a hierarchy can help you accomplish these targets. Rocks, Pebbles & Sand
Imagine you’re given a jar and a handful of rocks, pebbles and sand. What order do you put them in so that they all fit into the jar? Start with the smallest and after your layer of sand and pebbles, the rocks don’t fit. But go with the largest rocks first, the pebbles can fill in the gaps and then sand can fill all the cracks left.
The Planning Hierarchy
Now replace the jar with your five -ten year goals, the rocks with annual goals, the pebbles with 90-day goals and the sand with quick actions.
By determining the big picture and our annual goals, we can then plan how to achieve them by breaking them down into further goals and then the small actions that will help us to reach those big targets.
5-10 Year Plan In this plan determine what are the values and visions of the business are. Do you want to create a passive income of a set amount per annum or reach a set turnover? Do you want to position your business for sale or be bought out by a competitor? How do you see the company aligning to this vision? What do you want to achieve financially in this time?
Annual Plan These are your “rocks”, your key objectives and goals for the year that will help propel you towards your overall vision for the business. This is your opportunity to drill down and decide on the key areas of the bsuiness that when focussed on will propel you towards your goals. Within these plans you can conduct your SWOT analysis for the coming 12 months. 90 Day Plan Rather than tackling your key annual objectives as one, we then break this down further into our “pebbles”. What can you do in the next three months to work towards each objective? Who in your team is responsible for what? Now is the time to delegate tasks. Ongoing Tasks
The “sand” in your planning hierarchy is the ongoing tasks that need to be performed daily and weekly in order to meet the KPIs which you can track against meeting your target. This is where reviewing the Achiever Matrix may help you (link here) to ensure that while tasks are being ticked off you are not losing time in areas of waste.
We recommend a full business planning session with us for anyone serious about driving their business forward and achieving success. Find out more about this here
Interested in learning more about business planning or looking for a business coach to help you with your business strategy? Contact us at Grace Team Accounting on 578 5416 to make a time to get together.