As we find ourselves in the middle of a hectic holiday season with the year-end quickly approaching, I find that I’m juggling balls in the air more than ever. When it comes to running your business, many activities occur daily that need to get done but don’t necessarily provide measurable value. It can be overwhelming at times. So it’s important to regularly take a step back and refocus on your broader goals. We all want to be “successful” in our businesses. However, being successful can mean different things depending on each person’s perspective.
As I’ve developed the Jumpstart Your Rainmaking program, I’ve focused on providing the tools to be successful in the area of generating a steady flow of clients. And that starts by setting measurable goals so that throughout the hectic year we can regroup with ourselves and maintain focus on the bigger picture. The program encourages people to dream big and aim high. But we also encourage people to consider setting their goals under the SMART model. Many of you are already familiar with SMART goals – those that are Specific, Measurable, Attainable, Realistic/relevant, and Timely. I debated even talking about them because so many people think that just because they’ve heard of SMART goals they are actually setting them. And I didn’t want to have to be the one to tell you that you might not be setting the right kind of goals, particularly around Rainmaking! Here’s what that might look like as you do think of setting your revenue generation goals for the upcoming year.
Specific
Your goals must be specific in order to create a clear roadmap in achieving them. State what you want to accomplish as concisely as possible. These goals should be able to answer the questions “Who? What? When? Where? How?” in fairly specific detail. In Rainmaking that means identifying your target client. Can you really picture them and describe them? Where do they hang out? How can you reach them? It also means identifying the specific actions you’ll take to move toward achieving the goal.
Measurable
Having measurable goals allows you to keep track of your progress. It is beneficial to set milestones along the way. With the ability to track your progress, you can see how well you are performing and be able to adjust your plans if necessary. For example, I’ve developed a method where I track “touches” monthly. A touch could be a meeting with a client or prospect, or it could be attending a networking event where I’ll have multiple touches with people, or a speaking engagement. Monthly, I determine what kinds of touches I’ll make and then later, I evaluate whether they ultimately led to business.
Attainable
Naturally, we set goals with the hope of accomplishing them. So, if you set goals which are nearly impossible, you are setting yourself up for failure. I encourage setting stretch goals, but if the goals are unattainable you’ll give up, right when you should be forging ahead. When setting goals, be honest and true to yourself. Do you have the ability, resources, and manpower to achieve your goals? For instance, if I determine that it takes 100 touches in a month in order for me to be successful, then I will fail. On the other hand, if I set a goal for 20 in a month, I’m much more likely to strive to do that. And I will likely be more present at the 20 meetings I actually do schedule.
Realistic/Relevant
It is in human nature to be curious and be interested in many things. We can get distracted easily and go off track. It’s the “bright, shiny object” conundrum! We must make sure that our goals are relevant to the bigger picture. How does each of your actions relate to your main goal? In developing the “touches” strategy above, I schedule a certain number of lunch and breakfast meetings, designed to reach out to people who may ultimately refer business to me. At the number I try to schedule, it doesn’t leave as much time for “recreational” lunches with friends, which I also love. But in keeping my eye on the bigger picture (to grow my business), I end up scheduling less friend time during the workday. While maybe not as fun, it helps keep my focus – realistic and relevant!
Timely
Your goals and actions need to be timely. Of course! It’s easy to put off doing the things that take us out of our comfort zone – like generating business. But the old adage about not putting off until tomorrow what you can do today is absolutely key in building your business contacts, and ultimately your revenue, leading to your Rainmaking success. A little bit of client outreach and networking every week is better than one big push at the beginning or end of every month. Finding what works for you is part of the fun!
As you think about setting goals for the upcoming year, particularly around increasing your revenue, building your practice, generating more referral partners – ask yourself if the goals are SMART. Be willing to work on them until they are. Your Rainmaking success with come faster if you set the right goals. Need help? Think about joining our “Jumpstart Your Rainmaking” webinar series, starting in January. Click here for more information and to sign up. You’ll leave with a SMART plan for your 2016 Rainmaking!
Monika Miles is President of Miles Consulting Group, a firm specializing in multi-state tax consulting for middle market businesses. Clients include technology, manufacturing, software and SaaS based companies doing businesses across state lines. Miles Consulting Group assist them in determining the sales tax and income tax ramifications of creating a taxable presence in a state and how to address these issues with the various states. When she’s not assisting clients with multi-state tax issues, she passionately shares Rainmaker strategies with other professional services firms. Stay tuned for the upcoming “Jumpstart Your Rainmaking” webinar series coming in January 2016! Click here for more information.
