Towards the end of today’s meeting with the EO Accelerator accountability group that I mentor on a monthly basis, we got into a discussion about goals. We went around the table in my office and I quickly realized that almost none of the entrepreneurs there (five not counting me) set goals for the month, quarter, or year — I was very surprised.
As a group, we decided to set three objective, numeric goals in our businesses for this quarter and next. At our December meeting, and meetings going forward, everyone will share their progress report towards the goals. In my company, we set our goals on a quarterly, annual, and three year basis as part of our one page strategic plan. My advice is to do a one page strategic plan, update it quarterly at an off-site, and make it part of the company routine.
Note: For companies with fewer than 10 employees, I’d still set quarterly and annual goals, but not worry as much about all the details in the one page strategic plan.