Avoid setting too many goals

Goals are important for our business and personal growth as they provide a clear understanding of what we are striving for. In fact, having goals give meaning to your daily tasks. Goals give you direction and clarify reasoning behind the decisions you make daily. This said, why is it that entrepreneurs and people in general do not achieve the goals they set out to achieve each year?

In my experience as a business coach and mentor, entrepreneurs fail to achieve the goals they set for themselves because they take on more goals than they can handle; as a result they become too overwhelmed.

The Pareto Principle, named after its founder, the Italian Economist Vilfredo Pareto supposes that if you have a list of ten items to accomplish, two (2) of those items will turn out to be worth more than the other eight (8) items put together. What is interesting is that most people procrastinate on the 20% of items that are most valuable and important, “the vital few” and get consumed with the least important which is 80% “the trivial many” which contributes very little to their success.

Remember, the point of setting goals isn’t to successfully complete tasks that you blindly set yourself without understanding how they fit into the big picture, nor is it about maximizing the accomplishment of trivial activities. What is critical in goal setting is the ability to master the right kinds of goals – the ones that align strongly with your priorities and have the ability to propel your business forward and/or change your life.

You don’t even have to wait until end of the year or beginning of the new year to evaluate where you are. Instead of reviewing your goals once a year; do quarterly reviews because it is important to regularly step back and review your business. Take time for proper introspection and foresight. By so doing, you become responsive to your environment by adapting to changes that may occur quickly. Bearing in mind that speed, responsiveness, and agility are critical in today’s dynamic business environment.

So, if you could accomplish two major business goals in 2018, what would they be?

Let’s break it down even further by using the Pareto Principle:

1. Write down 10 goals you want to achieve in 2018 – if you could only accomplish one of the goals on that list, which one goal would have the greatest positive impact on your business or life?
2. Pick the 2nd most important goal that would have positive impact on your business.
3. Focus your energy, time and resources in achieving these two goals.

When you have goals that align with your business vision, your time and what’s important to you such goals become effortless. In order to accomplish your most meaningful business and personal goals, don’t attempt to do too much at once.

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