Art Jacoby's Monthly Newsletters
Newsletter Library - January 2006
The Right Goals
Much has been written about the importance of SMART goals--specific, measurable, attainable, realistic and tangible. These attributes are important and helpful.
But what's far more important is determining the right Goals for you and your business. Your personal situation, drive and desires should weigh heavily in determining these.
Try this process: envision a satisfying future for (a) yourself and (b) your business at 2 future points: (1) 1 year out and (2) 3 or 5 years out--perhaps when you would like to exit. Now, develop a list of Questions that facilitate getting to the heart of what you really want and answer them honestly. A few sample questions to help get you started:
Where do I see myself in 1 and 3 (or 5) years?
- What is the best role for me?
- What have I achieved?
- In what condition are my personal finances?
What does my Business look like in 1 and 3 (or 5) years?
- Key Products and services? Reputation?
- Revenues, Margins, Net Income and Valuation?
- Internal organization, alliances, partnerships?
SMART Goals aren't enough. Make them the Right Goals.
Art Jacoby advises high potential growth companies.
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