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Question: Have you established goals for this year and are you prepared to meet those goals?

Goal setting is a good idea regardless of your professional or personal situation. Most people have an interest in getting from where they are today, to someplace better in the future. The goals you set for yourself may be suggested to you or you may create them on your own, either way, people have an innate interest in self-improvement. The following are ideas to consider when establishing your goals for the year:

1) A goal is much more realistic if you make it yourself.

Many sales organizations try to force a required quota onto their employees. This quota was probably based on an objective that your boss or the organization has. Bottom line, most front line people do not relate well to the goals given to them. Instead, ask your employees to create their own goals. Not only will these goals be more realistic, but the employee will automatically have more accountability to them.

2) Set goals based on income, rather than units sold or revenue produced.
Most sales people are completely or partially paid via commissions earned from the sales they generate. Money generally motivates team members more than the total number of units sold or the value of the deal. Reason being, the product sold is what the customer receives…..the revenue is what your company receives and cash is what the sales person receives. Why not set your goal based on how you are affected by the outcome? It is generally a lot more fun to think about all of the money you are going to make versus all of the units you are going to sell. This tip is equally important for sales managers. Put yourself in your sales reps shoes and see how your current measuring stick applies to them. If it is not providing the right incentive for them, make the change right now to get their goals aligned with their outcomes.

3) Keep your goals visible and make them known to all.
Write down your goals in three spots: such as a business card to carry in your pocket, a piece of paper next to your desk at the office and a sticky-note on your mirror at home. This way, you are guaranteed to look at your goals several times a day. Read your goals and think about them often. The power of your thoughts can directly affect your ability to reach your objectives. Additionally, share your goals with as many people as you can, such as your wife, your business partners, sales reps, your mentors, etc. You will be instantly more accountable to your goals you have shared with others. Also, once your family and friends listen to your goals, they automatically become supporters in helping you achieve them.

4) Set your goals based on historical data.
If you made $50,000 last year, your chances of making $250,000 this year are not so good. For better or for worse, your history tells you a lot about your future. Reviewing your past sales record will help you be more realistic when setting your goals. Your intent should be to improve on what you accomplished last year and to set your goals in a way that is challenging, yet attainable. If you are new on the job and have no previous data to pull from, then ask one of your peers what kind of success they achieved in their first year.

5) Modify your goals as the year goes on.
If your intent is too create realistic goals that motivate you to succeed, then your target for the year may change as time passes. This could work in two ways. First, perhaps you are having a better than expected year and it looks like you will achieve your goal sooner than expected. Great….now re-set your goals to more accurately reflect where your target should be. Secondly, there may have been several challenges to your business that you did not anticipate. That being the case, your goals for the year may be too aggressive. Review your objectives and try to re-align your present objectives to your current reality.

6) Treat yourself!
Often, people focus too much of their attention on the goal and not enough on their personal reward for reaching the goal. Think about a short wish list of personal items that you want for the year and align your goals with them. So, if you meet your quarterly or annual goal, go ahead and buy that watch or golf club that you wanted. Print out pictures of these rewards and post them in strategic places around your home and office. When you see these photos, it will remind you again of how great it will feel to buy those items as a gift to yourself once you meet your goal.

Hopefully this overview of goal setting has been valuable to you. All of these suggestions can be adopted and implemented right away. The longer you take to get started, the longer it may take for you to reach your goals.