The Importance of Business Goal SettingWorkshop

Elinor Perry

Our time together

Who is Elinor? Fresh start… Stepping into accountancy Business owner Grow the business using Goal Setting

Increased turnover by 33% Increased GP from 51% to 63% Increased NP by 19% to 36%

Life is ……A piece

Of String

Why set Goals?

• Help yourself…

– Do more

– Enjoy it more

–Win more

Why set Goals?

• Help your team…

– Do more

– Enjoy it more

–Win more

James completed the Coventry half marathon in 1 hour 51 minutes

Why set Goals?

• Help your customers…

– Do more

– Enjoy it more

–Win more

GOALS?

Why people don’t set Goals

Not important

Don’t know how

A fear of failure

A fear of rejection

What Goals are Clear, concise and written

down

S.M.A.R.T.

Worthy of your attention

FEAR

SMART Goals Specific – What to you want to achieve – more profit?

Measurable – you need to be able to track progress < net profit %

Achievable – a stretch but not to the extreme!

Relevant – a challenge but realistic – you need to believe

Time-bound – VERY important to have a date!

PROOF?

A study conducted on students in the 1979 Harvard MBA program. Have you set clear written goals for your future and

made plans to accomplish them? Only 3% of the graduates had written goals and

plans 13 percent had goals, but they were not in writing a whopping 84 percent had no specific goals at all

Ten years later

The 13% of the class who had goals were earning, on average, twice as much as the 84% who had no goals at all.

And what about the 3% who had clear, written goals?

They were earning, on average, ten times as much as the other 97% put together.

Do you want to be in the 3% or the 97%?

Personal Goals

What’s important to you? – Page 5

• 1.• 2.• 3.• 4.• 5.• 6.

Elinor’s Personal Goals Wheel

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Elinor ‘Perfect’ Man !• Aged 42 to 52• A loving, committed and loyal man• A tall man who takes pride in his appearance• Career minded maybe running his own business• Successful and Confident • Willing to try new experiences and explore out

of his comfort zone

Your Personal Goals Wheel – Page 7

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Have Do Be

Please choose your segment - Page 9

Possibilities-----

GOAL –

S.M.A.R.T.

Elinor’s Personal Goals Wheel

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Health Segment

Possibilities- Bootcamp - Extreme Diet- Weight Watchers- Hypnotherapy- Joined a gym- Surgery- Detox

GOAL – Help Lucy lose weight for her 18th Birthday

S. – Lose 2 stone in 3 months M. – weighed each week and statistical analysisA. – Studio CV34 pictures showed it was!!R. – Healthy eating plan and exercising 3 times a weekT. – 12 week plan which ended 1 week after Lucy’s Birthday

Please choose another one – Page 12

Possibilities-----

GOAL S.M.A.R.T.

Elinor’s Personal Goals Wheel

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Your Personal Goals Wheel

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Missing Letter ??• S• M• A• R• T

•Y – why do you want it?

Missing Letter ??• S• M• A• R• T

•Y – why do you want it?

Business Goals

What’s important to you? – Page 25

• 1.• 2.• 3.• 4.

Elinor’s Business Goals Wheel – Page 27

100%

Don’t forget the Y!!Two types of Why

Please choose a segment – Page 29

Possibilities-----

GOAL S.M.A.R.T.

Please choose another one – Page 32

Possibilities-----

GOAL S.M.A.R.T.

HABITS

The 7 Habits

1.Be Proactive I am free to choose and I am

responsible for my choices

The 7 Habits

2. Begin with the end in mind

Mental creation precedes physical creation

The 7 Habits

3. Put First things First Effectiveness requires you to act

on your priorities

4 STATS…

1. 95% 2. 1 in 73. 70%4. 1st Jan

The 7 Habits

4. Think Win Win

Long term relationships require mutual respect and mutual benefit

The 7 Habits

5. Seek first to understand and then be understood

To communicate effectively, we must first understand each other

The 7 Habits

6. SynergizeThe Whole is greater than the

sum of it’s parts

The 7 Habits

7. Sharpen the SawTo maintain and increase

effectiveness, we must renew ourselves in body, heart, mind & spirit

Actions

•1.•2.•3.

Feedback

Thank You

How to keep in touch with Elinor and Pentlands

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Tax Advisors

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