Shark Tank – Do You Have a Plan?
I LOVE watching the ABC show Shark Tank; I treat it as both entertainment and education at the same time. We have TIVO (love it!) and I am constantly pausing the show to discuss, berate and judge each contestant.
We have been watching for over a year now and it never ceases to amaze me at how many people will come on the show without a good (or any) business plan and specific goals for how there are going to build their business.
Tonight was no exception. The last 2 contestants actually had a decent product, or so it seemed, but when it came time to deliver the business plan… it just wasn’t there! It is very difficult if not impossible to achieve a goal, any goal, if you have not spent adequate time planning and developing a strategy on how you are going to get from here to there. As some of you know, I have been blogging about the chapters in Think and Grow Rich, by Napoleon Hill written in 1937. Right away in the beginning of the book, chapter 2, it lays out the six steps necessary to achieve wealth, or any desirable goal. The first step is to write out your specific goal, or in this case the amount of money you desire.
Can you imagine setting off on a trip from San Francisco to New York, without knowing that you are going to New York? Or, how about not looking at a map, buying gas or deciding on a method of transportation for that matter? It would be ridiculous, right? The same is true for setting goals in our life and our business. If you don’t know where you are going, how do you know when you get there?
Some Basic Tips for Setting Your 2013 Goals:
- Start by writing on paper your major 3-5 goals for the year. Maybe they are financial, personal, physical, spiritual, or a combination of these or others. It could be a specific number of listings, or a dollar amount you want to earn.
- Break your goals down into quarterly, then monthly, then weekly achievable goals. Remember the blog on the book The Slight Edge; don’t try to move mountains, just small incremental improvements daily, weekly, and monthly.
- Write down what you are willing to give up, or what you are willing to do in order to achieve your goals? Will you get up earlier; exercise, not watch so many shows like Shark Tank... what will you do in exchange for achieving your goals?
- Write a plan on exactly how you are going to achieve your goals. How many calls do you need to make each day, how many postcards do you need to send monthly? Break it down to a mathematical formula.
- Read your goals out loud once in the morning when you first get up and once at night before going to bed.
- Share your plan with at least one other and maybe two or three other people. Do you have someone that will hold you accountable, maybe your broker or sales manager, or a team member?
- Meet once a week with this person and update them on how you are doing with your goals. Ask for feedback? Be open to suggestions, ideas on how to improve.
And don't forget to use SMART goals:
I am planning on 2013 being the best year of my life, will you join me?