What’s the point of Project Management and Goal Setting?
It’s simple, taking the time to improve the efficiency in your business gives you two main benefits. Firstly, it gives you more time to work on progressing your business and working on improving internal processes and systems rather than being stuck in a reactive mode managing the day to day. I’m talking about implementing software that we use in our business every day, we simply couldn’t manage all the activities happening in our business without it. It’s an online project management tool called TeamWorkPM; as a result of using this software we have improved the output and productivity in all our projects plus ensured that no idea or small job gets lost amongst all the constant requests.
The beauty of this software is that you can set recurring tasks, start and due dates, prerequisite tasks, copy and redo projects with reminders, instructions videos and much more. Imagine being able to detail each persons tasks, order, due dates, milestones, reminders for everything that is required for a new consulting client for example… then just replicate this project each time a new client comes on board. Straight away everyone knows their tasks, timeline and the project is under way in a matter of seconds.
If you’re thinking of implementing project management I’d really recommend checking this out. I showcase the product in the video below.
Project Management is just the begging, now lets compound our success with Goal Settings
Now what am I talking about here?
Goal Setting is to help give us focus and a clear direction, a reminder to look at the big picture instead of getting caught in the daily grind and to make sure that everyone is striving to reach and complete goals that will help the company grow.
Here is the formula we use in our business. Define up to 5 Goals (these need to be large goals, they can’t be tasks that you could complete in one sitting) that you want to achieve in the company over the next 90 days. Thus creating a 90 Day Action Plan. When you define these, try and break down each Goal to have dot points of the major tasks involved in completing each goal.
The reason I say up to 5 Goals because if you define too many, you’re concentrating on to many things at once and you’re likely to actually achieve less. My recommendation would be to start with 3 goals followed by maybe 2 or 3 possible extra tasks, that are only for looking at IF you complete your original 3. Follow this method and work your way up to completing 5 clearly defined goals every 90 days. I hear it all the time, too often people check the date followed by “Woah I can’t believe it’s XYZ already, where did the time go” – using a method like this in your business ensures that no large portion of time escapes you without things moving in a positive direction.
Once you have done this, bite the bullet and share your goals to at least one other person in the company so they are aware and can try help you achieve your goal but also to make you accountable for your plan.
The reason behind sharing your Goals is because studies have found that you’re up to 80% more likely to succeed in completing a Goal if other people are aware you are trying to achieve it. This is because it makes us accountable to someone else and not just ourselves. It allows other team members to help you out if they have a suggestion but it also explains to them why you may be doing things differently or have focus elsewhere in this quarter.
In our business we all come up with individual 90 Day Action Plans and share them with everyone else in the business.
This compounds the effect of the method and will see your business reaching new heights each and every month.
Hope this has been helpful. If you have any other questions in how we’ve implemented this or perhaps some of the strategies we’ve used to make it a success please feel free to ask.