If you’re a business owner like me, you likely set big goals for yourself each year followed by some micro goals throughout the year. Goals are key. They are the focal point of our achievements. They drive us and motivate us to get up each day and continue to push forward in our business.
Here’s where I give you my unpopular opinion; setting goals isn’t a one size fits all solution in your business. If you simply set a goal, it won’t be enough to get you to where you want to be. Why? Because you need to create a plan that has more information in it. You need a strategy to pair with your goals to find the success that is the right fit for you.
Take a smoothie shop owner and a business coach as a side by side comparison. They each want to increase their revenue and their profits to $100,000. Same goals yet, they are not the same size. The number $100,000 is the same monetary goal and outcome goal for both business owners. However the approach, the output, the capacity and the forecasting will be different for each business.
Why? The smoothie shop owner has an economic limit to what they can sell a smoothie for. The business coach does not. If the business coach is extremely skilled in their craft and has built up the clientele, they can charge tens of thousands for their services. They would have less output to achieve their goal whereas the smoothie business would have far more.
One size, does not fit all.
We need to understand what our business “size” is, in order for us to set successful goals that we can triumphantly achieve. Similar to when we head to Nordstrom for a day of shopping, we need to know our general size in order to have a successful day of shopping. I know that I need to find clothing in Medium and sometimes Large sizes. If I spent the day trying on only Extra Small or Extra Large clothing, the day would not be a success. I would walk away with nothing, frustrated in the process, and giving up on shopping all together. What a different experience I could have had if I had just tried on my size.
Do you see where I am going with this?
Knowing our business “size” gives us the best place to start from. This is an area I see women struggling with. Pulling together a project for their business that would require a team of 5 to accomplish something when they are only a team of one. In order for the smoothie shop owner to hit their goals, they are likely to need to offer more than just smoothies and have employees to help them carry out the workload. The business coach may be able to work with a lot of clients but may need the help of a VA to accomplish the administrative needs of the business as well.
So, now you’re probably asking, “Heather, how do I find my business size?!”
I’m glad you asked. It means that you are looking to build a business in alignment with you, and not just copy someone else’s blueprint. It makes my Business Strategies heart SING when women show up, get curious and find what aligns with them. So here we go.
We are going to break down how to measure your business in more ways than just your singular goal. This will give us the answers we need. This will help give us clues to find our business “size”. This will help us build with clarity and confidence.
So get out the measuring tape, we are going to find your business “size” by measuring in three categories:
Output vs. Outcome
Budgeting vs. Forecasting
Capacity vs. Capability
Each are necessary to measure for the success of your goals, project, business, etc.
Keep following along the Leader Blog for more information as I break down each Category. There’s A LOT of information to share with you, stay tuned!