As entrepreneurs we’re all looking for ways to maximize our businesses and succeed. One of the surest ways I know how to do this is with goal setting. And one of the best resources for how to master the art of goal setting is none other than my friend, Michael Hyatt.
This is Michael’s second visit to the show. As we discussed in that first show Michael is a world famous blogger, speaker and entrepreneur. In fact his blog now receives over 500,000 unique views per DAY! And he believes goal setting is a powerful tool that has helped him achieve all he has today.
He first discovered the power of goal setting while still in the corporate arena. The CEO of the company he was working for tasked him with rejuvenating their poorest performing division. The division was ranked dead last in every possible category. When asked how much time he’d need with to turn that division around, Michael told his boss he would need 3 years. In reality, Michael only needed 18 months to go from 14th to 1st among all divisions.
In this episode, you’ll learn about:
- Happiness comes from what two things according to Michael?
- What the S.M.A.R.T.E.R. acronym stands for and why it’s important.
- Why elaborate strategic plans often slow us down.
- Why you need to respect your business.
- How much money did his blog earn him in the first year he monetized?
- Should you go public with your goals? Michael weighs in.
- Much, much more!
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Items mentioned in this episode:
- 5 Days to Your Best Year Ever – Michael’s Goal Setting Course (including my bonus, too!)
- Michael’s Top 3 Goal Setting Tips (Video Chat!)
- Michael’s Blog
- Michael’s first appearance on the show – Episode 28
- Follow Michael on Twitter
- Strengths Finder 2.0 by Tom Rath
- 7 Questions to Ask About Last Year – Michael’s article on reflection.
- Tropical Think Tank (Just a few tickets left!)
After he achieved that momentous turnaround for his company, Michael knew he wanted more. He didn’t want to have peaked so early in his career, he knew he had much more to contribute so he hired an executive coach. With the help of that coach and his own personal drive, he decided his next year was going to be even better than the previous one. And that’s what he’s done every year since: made a commitment and created goals to make his upcoming year even better than the last.
He says one of the keys to doing so, aside from creating those goals, is to share them with your team. Everyone needs to know what you’re going for in the upcoming year so you can all steer in the same direction. Too often entrepreneurs fall off track because their team isn’t all on the same page.
There are three other components of creating and achieving your goals successfully that Michael shares on today’s show. The first is to write down your goal. Michael cites a study that showed people who write down their goals have a 42% higher success rate! He also recommends putting them where you see them on a daily basis.
The second component is to identify the next action you can take towards achieving that specific goal. Michael set a goal of running another half-marathon and he wrote it down. His next step was to register for the marathon so he did that. If you know multiple actions you can take, write them all down and then get moving on them.
And thirdly put your goals on your calendar. People who set deadlines and write their goals on a calendar are among those who are the most successful, according to Michael.
Michael and I go into greater detail on all of these topics and more, have a listen to get the full scoop. And then please join me in thanking Michael for being here, he is always great to chat with online and offline. And thank you as well, I appreciate you being here and listening in!
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Have you created your goals for 2015? Did you write them down, along with actions you’re going to take and deadlines for achieving those goals? I want to hear from you in the comments below!