As business owners, we know that setting goals is very important. There are thousands of books out there that talk about the importance of setting goals to create extreme, phenomenal success in your business and life.
Whether you want to improve your fitness, run a marathon, or save money for your retirement, setting goals is the way you add focus, intention, and direction into everything you do. And if you want to grow your business extraordinarily, it’s important to set goals.
In this episode, I’m sharing a different perspective on goals to help you reframe how you relate to yours in your life and business. I’m showing you how to get on the same team as your goal and why doing so will help you grow your company, serve more people, and have a bigger impact on the world.
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What You’ll Learn from this Episode:
- The purpose of your goals and how setting them helps you improve your business.
- How most people think about goals.
- Why most entrepreneurs don’t set goals and why this is such a huge problem.
- The growth I have had from setting goals in my business.
- What your goals are representing to you.
- How your goals can help you serve your clients.
- Why you need to look at your business as a living, breathing, growing entity.
Read the full transcript now
You’re listening to the Mastering Money in Midlife podcast with Debbie Sassen, episode 16, Being On The Same Team As Your Goal.
Welcome to Mastering Money in Midlife, a podcast for midlife women in business to overcome financial anxiety and make more money without burning out or sacrificing their families. Join certified life and money coach Debbie Sassen as she shares practical business strategies and mindset shifts that help you dissolve the money blocks that keep you stuck in a cycle of underearning and under-saving, sabotage the growth of your business, and prevent you from building the wealth that you desire.
Hello, my friends, and welcome to the podcast today. I’m going to be talking about goals. Before we go to goals, I just want to remind those of you who follow sports or like sports like I do. I’m not a sports person that I follow it, let’s say, religiously, where I’m always involved, but I do keep my eye and my ear peeled to see what’s going on. And my team, the Los Angeles Rams, won the Superbowl, yay, a couple of weeks ago, and I thought since my team, being from Los Angeles that I am, but I really never, ever, ever followed football and my son came home from school, and he was the one who reminded me that it was the Superbowl and that Los Angeles was playing.
Anyway, being that I’m so thrilled that my team won, I thought that I would talk about goals today. Now, if you are a business owner or really anything you want to achieve in life, we know that setting goals are very important. There are thousands of books available on amazon that talk about the importance of setting goals in order to create extreme and phenomenal success in your business and in your life. Whether you want to have a goal to improve your fitness, right?
You want to get in shape? Or you want to run a marathon, so you have to have a goal to run a 5k and then a 10k and then maybe a half marathon, and then you’ll run a regular marathon, maybe even an ultimate marathon. You might have a goal of saving money for your children for their college education. Saving money for your retirement, which we’ve talked about recently. Right?
Setting goals is how you put the focus, intention, and direction in your actions. And business is that way also if you want to grow your business extraordinarily it’s important to set goals. Now, most entrepreneurs actually do not set goals for whatever reasons. They don’t think about it. It’s something fuzzy in their head. They’re afraid of failure. They don’t know how to set goals. The goal puts a lot of pressure on them, and then that stops them in their tracks.
My thought today is that I’m going to give you a different perspective on goals, a reframe on how you will relate to your goals, how you can relate to your goals so that a goal becomes something that you want to set. Something that you’re going to work together as a team, you and your goal in order to achieve. Now, the way most people think about goals is it’s this very inanimate number, neutral, out there in the distance, and it’s not a living, breathing entity on its own.
And I’m going to go back to the football example, the Superbowl, because we’re going to be talking about becoming a team and being on the same team as your goal. So, I’m going to bring a football team as an example. Let’s talk about the LA Rams. I don’t even know any names of the players, but that’s okay. There are different positions on a football team. You have the quarterback; you have running backs, linebackers, there are folks who are, you know, team members who are good with the offense, team members that are good for defense.
There are the people who pass well, people who catch well, kick well. There are the guys who tackle the opposing team, the opponents, right? Each member of that football team has a job, a task that he, usually it’s a he, most football teams are all men. I think there are women’s football teams, but each person has a job, a task, that is specific to him. Each person has a specialty, right?
The person who can throw really well might not be the fastest runner. The person who kicks really well and has very good, like, you know they can kick in a straight line. They can get it through the goalposts, like, that person has probably stronger legs than some of the other team members, and each person has his specialty on that football team. But the goal as it were, right, of the entire team is that they should get the football from where they are on the football field through the goalpost on the other side.
They are going to run or pass the football, you know, cross over the zero-yard line into the endzone in order to score that six points. If you get it over, then you have to kick because you get an extra point. You can get seven points when you get that, or there are field goals which are three points. Right? And another goal as it were of the football team is they want to prevent their opponents from having a high score.
So, the thing that they might be focusing on the target might not even be to have the highest-scoring football game, right? It could be that they’re going to try to prevent it. Well, they are always trying to prevent their opponents from scoring any points. So, you might even have a football game where your opponents have zero, and your team has only three points or six points, and you still win the game. Not because you had a high score, but because you had a low score, and you have prevented your opponents from scoring any points at all.
Everybody on the team, the offensive players, the defensive players, you know if you are the Los Angeles Rams, right? Everybody is working together because they have the same target, the same goal as it were in mind, and that is to win the game. Now, let’s take this example back to your business. You and your financial goal for the year have the same target and think about it. What is the target of your business?
You are in business to serve your clients in the best possible way. Your financial goal is a representation of how well you’re serving your clients, how many clients you are serving, and the depth at which you are serving your clients. So, let’s say, for example, you have a goal to create $100,000 in your business in 2022. Now, that goal can represent a number of different ways of serving your clients. It can represent you serving 20 clients at $5,000 for the year. It can represent you serving 100 clients at $1,000. It can be 100,000 clients at $1, right?
The goal is represented by the way in which you serve your clients, and when you’re thinking about where your business growth is for this year, it’s important to think about your business that way. And if you are, for example, a health coach and you want to help 20 women become healthier in the course of 2022. It’s possible that if you having a $100,000 goal means that they’re going to work with you for the entire year.
They’re going to pay you $5,000, and you’re going to give them very expert, very focused attention. You’re going to be working with them very intensively to really focus on what their health goals are. They’re also going to have health goals that are not just their eating, but their whole maybe, sleeping, and the amount of water that they’re drinking, and their exercise, and their breathing, and yoga, and whatever else they’re going to bring into their health goal. Maybe hormonal balance, but when you and your clients are setting their goals, right, the idea is that each one of us has a whole system and processes and tasks that we do in order to achieve our goals.
So, let’s bring in an example from the business world in order to make this more concrete. I’m going to take Apple—Apple and the year 2020 sold over 200 million iPhones. The statistics for 2021 are not yet available at the time that I’m recording this podcast. But, let’s say that Apple set a goal of selling 200 million iPhones in 2020, and then it ended up, we know now that they exceeded their goal, their hypothetical goal that I’m suggesting because they sold like 206 million iPhones.
In order to reach their goal, you need to have production facilities that are going to be able to produce 200 million phones. Each phone has a number of different parts inside it, and it’s going to have all of the different programming, the plasticware, the metal, the cells; it’s a very complex system. And all of that has to be produced to the highest standard in a production facility.
Then, each one of those phones is going to come off of the assembly line. It needs to be put into a box. So, the boxes also need to be produced, and there’s going to be like that nice cardboard that’s going to surround it. There’s going to be other material inside to make sure that the phone isn’t going to be broken or cracked or damaged in any sort of way when it’s being transported from the factory to the store where it’s sold. Also, the instruction booklets have to be produced and printed somewhere. You have to make sure that all the instruction booklets and warranties end up inside the box.
Then, each phone is going to be put together with a bunch of other phones inside a larger, you know, box that’s going to ship, let’s say, a hundred or a thousand phones at one time. It’s going to load them into a truck, and then it’s going to be put onto a container. The container is going to ship it to another part of the world. It will come off of that shipping container again, probably put onto a truck, and let’s say it ends up in California. Right?
You might have a million phones in California. Some of them are going to go to the north, some of them are going to the south, some of them will stay in the middle, and let’s say once all of your phones end up in I don’t know, San Francisco, you have to get them into all of the different Apple stores. And all of the phones that end up in Los Angeles now have to get into all of the different Apple stores in Los Angeles. Then you have your customer service representatives that are located in each individual store, and those are the folks who are going to sell the phone to the end-user.
Each one of those customer service representatives has to have a nice demeanor, has to be able to understand the phone and explain it when a customer is coming into the Apple Store to buy the phone. Then, if the phone doesn’t work properly, they have to again be pleasant, someone nice that you want to work with because they’re representing Apple and they’re going to help the customer have the best customer experience.
All of these systems and processes from the moment that the phone is developed, there’s the research and technology that we didn’t even talk about until that phone ends up in the customer’s hands, and then maybe there’s going to be you know, some damage with the phone. The customer is going to want to replace it, exchange it, something like that. Like that is an entire system. It’s like its own little universe that has to take place 200 million times in order for Apple to reach their target or their goal of selling 200 million phones in a single calendar year.
And all of that has to work together on the same team, and every step of that process is part of that whole system that is represented by the goal of 200 million phones. So, when you take this example back to you and your business, and you look at what’s going on today in your business, the number of clients you’re serving, the way you’re advertising your services, whether it’s on social media, on your website, or if you’re doing it in print media, right, that’s the way that you get your name and your brand and what you do out to the people who might need you or whether like me you have a podcast and that’s also how you share value with the world, and you serve your people.
Then, you have to maybe write things, right? You want to be able to tell people how you work. So you have to have to copywrite on your website and maybe on your social media posts, and if you’re someone who sends out weekly newsletters or blog posts or something, right? You have to be able to talk in human language and help people to understand why it’s important for them when you guys work together.
Then, there are your payment systems because when you have clients working with you, you have to be able to receive money. You have to be able to issue a receipt to your clients. Then, maybe you have your calendar, your scheduling system, right? So, all of your individual systems and processes are working together in order that you can reach your monetary goal.
So, let’s go back to that idea of having an income goal of $100,000 for your business in 2022. And it might be your goal is 200 or 500 thousand dollars. Your goal might be a million dollars. Your goal might be $20,000 this year. The number itself is neutral. The question is for you today, wherever you are in your business, what is your goal, and where is your growth? And that is what your goal is representing to you.
Your goal’s not there to beat you over the head and say you’re not doing good enough. How come you’re not reaching me yet? Oh, you should be further along right now. Like, your goal is not there to taunt you and to make you feel ashamed, or you’re not moving fast enough. Your goal is helping you to understand if you always want to be working to improve your services. If you want to have more impact in the world and reach more people, right? What can you do right now?
What is your business calling you to do for your growth in service of your people in order to reach the goal? And we set our goals sometimes, we’re going to set higher income goals, and sometimes your growth in your business could be looking at your actual foundations and systems and processes and seeing what needs to be tweaked. You know, for example, this year, 2022, I changed the way my business is set up from a freelancer to I now have a corporation, a company in Israel where I’m located.
So, part of my growth was to change my business’s legal structure and then open up a new bank account and then put new like, payment systems, and invoicing systems in place. And that was a lot of what I did in January, and part of February was putting those foundations in place. So the goal wasn’t necessarily to work with more clients, but it’s working on the foundations. If you’ve been following the podcast since I launched at the beginning of December, that was part of my goal for the fourth quarter of 2021, is putting the foundations in place for my podcast so that I can reach more people in the world through my verbal content or audio content, what you’re listening to right now.
So, that was my growth; I was setting up that. Of course, I’m still going out, and I’m still working with clients, still inviting clients to work with me, but you have to like look at your business as a living, breathing, growing entity that’s here to serve people and create an impact in the world and really be like introspective and look at your business almost from that like, ariel view.
That 30,000-foot view and look what’s going on and saying wow, if my goal, my ultimate goal is to serve more people and then the indication that you are serving more people and having a bigger impact in the world is going to be the money that you bring into your business, but if you have that like 30,000-foot view of your business you can set a goal by understanding where your growth is right now.
What I invite you to do is think about a goal. I know we’re already, you know, into March, but think about your goal for the first quarter of 2022. Now, maybe you’re on track to reach a money goal; maybe you have a different goal for this period of time. But you still have a month left if you’re listening to this podcast, you know, when it first drops, and if not, you’ll just figure it out whenever you listen to it.
What is your goal for Q1 of 2022? Then, also take the opportunity to think about your goal for the first half of 2022, and if you and your goal are on the same team growing your company, serving more people, having a bigger impact in the world, what does your goal represent? Are you on the offense? Are you on the defense? Do you need to be throwing the ball, kicking the ball, passing the ball, hiring people onto your team, right?
Just really think about like you and your goal working together for the ultimate good of your clients and for the ultimate good of the impact that you create in the world. Alright, so let’s just do a little recap. Number one, you and your goal are always on the same team. Your goal is part of a living, breathing entity which you call your business. Number two, your goal is never there as a static number that is taunting you in any way, shape, or form. The goal is never telling you that you’re not doing things well.
Your goal is not shaming you. Your goal is not beating you over the head. The goal is always representing you and your growth in the best possible way for your clients. And number three set your goals for you to stretch. There are concepts out there like stretch goals, audacious goals, outrageous goals. Sometimes your goal does need to be a stretch because you need to grow your capacity to serve more people, and sometimes your goal needs to be, you know, smaller.
Maybe you want to even keep your goal exactly where it was like the last quarter or the last year because you have some foundational things that you need to clean up in your business before your next big growth. But the goal and you as a business owner are always working together in harmony in service of your people so that you can serve, create an impact, and make more money.
Alright, my friends, that’s what I have for you today, and I look forward to seeing you on the next podcast. Bye.
Thanks for listening to Mastering Money in Midlife. If you want more information on Debbie Sassen or the resources from the podcast, visit masteringmoneyinmidlife.com.