038: Are You Tracking?
Listen Here and Now for Tracking Progress Toward Your Goals
Join us as we share thoughts about making sure you track your progress toward your goals throughout the year.
Quotable of the Week
“Human progress is neither automatic nor inevitable… Every step toward the goal of justice requires sacrifice, suffering, and struggle; the tireless exertions and passionate concern of dedicated individuals.” -Martin Luther King, Jr.
Activist entrepreneurship is hard work. It requires sacrifice, suffering, and struggle because we’re aiming for human progress. Be encouraged. It’s the common experience of all those aiming for human progress.
Highlights from the Episode
We’re half way through the year! What makes a person “successful?” It’s not usually about any great skill. For us, we feel like it’s because we did the day-to-day small tasks that overtime built up to something much larger – both in profits and in purpose.
At this point mid-year, it can be hard to know how you’re tracking with your revenue and your impact. You might feel like you’re pushing a boulder uphill, especially if you’re toward the beginning of your entrepreneurial journey.
So reflect with us for a minute.
What goal did you set in January (sales, financial, impact)? How is it working? If you work backward, are you going to reach it? What do you know you need to do to get there? Are you making adjustments along the way?
The definition of insanity – doing the same thing but expecting different results. You have to really ask yourself, “Is this working?” If so, keep going. If not, what needs to be adjusted? Maybe you need to double down on what you’re doing, try something totally different, or somewhere in between.
For us in the coffee business, we had an average daily gross we were aiming for in order to get the results we wanted for each year. We tried lots of different things to get to this daily amount… some worked, some didn’t, sometimes we’d hit it for a season and then the season would change. We kept a super close eye on this metric, shared it with our staff, and sometimes made it a game together.
I have a coaching client who has a set monthly recurring revenue he’s working toward. Each time we do a coaching call, I check in on how close he is to that recurring revenue. We’re constantly talking about what he needs to do to continue to reach his goal. It helps clarify the conversation and the subgoals he needs to make between each coaching call. He stays on track because we have the clarity and the accountability.
We have lots of metrics we track on a weekly basis for our business, only 1 is a revenue metric. Personally, we track our net worth on a monthly basis. No matter what happens with our budget, if our net worth is increasing, we’re on the right track. I track my workouts too.
We’ve learned a lot about goals and how to make them most effective in business. One of the top things we’ve learned is that you have to track your progress toward your goals on a regular basis. Otherwise, how will you know if you’re reaching them?
Here’s the key point: Set up your tracking system and track your progress toward your goals.
It can be a simple spreadsheet. That’s how we track our business goals. Set a routine to fill in the data and review it regularly – weekly is what we’ve found to be helpful. Stop just putting out fires and do your high value activity first and foremost. Then track them to see how you’re doing over time.
You might also need or want someone else to help you track and encourage you to keep reaching for your goals. Coaches are great people to do that. If you’d like to explore coaching with us or even just get a little boost on your goals and how you’re tracking toward them, visit businessactivistentrepreneur.com/schedule and schedule an Exploratory Conversation.
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