Henry Lopez shares his insights and actionable tips for goal setting, to help you achieve more in the coming year! Henry explains why goal setting so important and powerful, and how to set S.M.A.R.T. goals that are in alignment with your long-term vision for yourself and your small business. Henry Lopez is a Serial Entrepreneur and Business Coach with over 35 years of diverse business experience.
Topics covered by Henry Lopez in this episode of The How of Business podcast include:
- Why Goal Setting? Benefits of written goals (accountability).
- The power of visualization and affirmation!
- How to set goals: S.M.A.R.T. (Specific, Measurable, Achievable, Relevant, Time-Bound). Example: Generate $50k from my consulting business next year. Even better: Generate $12,500 per quarter next year, from new consulting clients.
- What are your personal and business goals for next year?
- Goal categories: Personal Relationships (with family, spiritual, etc.), Personal Health, Business (high-level objectives for your small business or plans for starting your business)
- Are your goals in alignment with your plans and dreams for your future? With your personal “why” or greater purpose in life?
- Do these goals get you closer on the path to achieve your longer-term goals?
- Example: Save $10,000 ($2,500/quarter) next year, in a separate savings account, to be used to cover personal expenses when I quite my job and launch my small business.
- Example: Increase business profitability next year by 5%, by reducing expenses by 2% and increasing marketing investment by 5% to promote our high-margin products.
- Review your goals frequently throughout the year (at least monthly). Adjust, and re-set as needed. Don’t beat yourself up too much if you miss some goals!
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Find all previous episode of The How of Business podcast, with host Henry Lopez, on the Archives page.