If you were to walk up to successful and unsuccessful entrepreneurs and ask them what led to their success or failure, the majority would point to a mentor or a lack of a certain trait… Blame genetics or external factors. But if you asked the same group if they used this secret, 99 percent of successful entrepreneurs would say yes, while nearly all of the unsuccessful entrepreneurs would ask what you were talking about…
The key to being a successful entrepreneur is extremely straightforward. It is titled “Quantifiable Objectives.” It may sound complicated, but by the time you’ve finished reading this article, you’ll fully comprehend what it means and why it’s so crucial.
Suppose you walk into a room full of entrepreneurs and ask them to describe their objectives. To explain why they are in business for themselves in the end. The majority of respondents will mention either time or money. However, observe their confusion when you ask them WHY they want to earn money or have extra time. This is the most important aspect of Quantifiable Objectives. Why does every John Doe claim to want to make money? Is there a specific item he wishes to purchase? Something he desires to do with his free time?
Once you determine WHY you want extra time or money, you have taken a significant step toward achieving success. Now you have a purpose. For instance, you need the additional funds to purchase a home. The purchase of a home is your objective. Now comes the Quantitative section.
How much are you planning to invest in this residence? $250,000? $1 million? To properly set goals, you must come up with a dollar amount or a time amount, something quantifiable. Thus, once you earn $250,000 or gain 3 hours, you will have effectively attained your objective.
But merely waking up one morning and deciding to earn $250,000 will not result in this outcome. How then do you accomplish your long-term Quantifiable Objective? By dividing it into smaller, measurable goals for the medium term.
For the example we’ve been using, the purchase of a home for $250,000, your medium-term objectives would likely be financial. You could set goals to complete two projects worth $125,000 each, or even ten projects worth $25,000 each, or you could break it down even further.
But what are these objectives good for? They are still challenging to achieve, and how do you know what to do to accomplish them?
You divide each of your medium-term quantifiable objectives into short-term objectives. For instance, if you decided to take on two projects with a price tag of $125,000 each, your first objective may be to consider the types of projects that would generate that amount of revenue for you. Your next objective would be to close the sale on such a project, followed by project completion and payment collection. Thus, each intermediate objective is broken down into manageable tasks.
At this point, you should create a flowchart to help you establish your objectives. Place your life’s measurable objective at the top of a separate sheet of paper. Then, place each of your short-term objectives on separate pieces of paper in a horizontal line directly beneath your long-term objective. Then, directly beneath each medium-term objective, list the short-term objectives required to achieve each medium-term objective.
This method will assist you in visualizing your goals and the significance of each step in achieving them.
Check off each short-term objective as you achieve it, completing one sheet at a time. By doing so, you will be able to SEE the rapid progression of your results. Each time you achieve a short-term objective, you move one step closer to achieving a medium-term objective, which in turn brings you one step closer to achieving your life objective.
What will you do about the secret now that you know it? I suggest using the provided visualization techniques to construct a “life pyramid” on a wall that is visible while working. It will keep you on track if you glance at it periodically. Reward yourself when you achieve your objectives, from the smallest accomplishment to the completion of the pyramid. Seeing that pyramid completed will likely be the most positive experience of your life, and the construction process of the pyramid will set you on the right path.