Setting Up the Right Kind of Business – and the Three Steps to Take When Creating Goals

When building your business, you should never start it first and then consider your goals later. It’s always the other way around.

One of the biggest mistakes many entrepreneurs make is having a business approach akin to a leaf in the wind.

While a leaf in the wind may be fun to watch, it’s characterized by its up and down and swaying motion. The leaf doesn’t have control over its flight path - it can go up, down, or get carried off to the side.

This is precisely how many entrepreneurs run their businesses. That is, there’s no sense of control or direction.

As a result, the business is vulnerable and often battered by the elements. You’ve probably experienced this too if you ever suffered from shiny object syndrome and realized that your finances weren’t growing consistently.

Many actions you take can contribute to this leaf in the wind-type behavior. To help you avoid this, let’s talk about how you can set up your business the right way and achieve constant, sustainable growth.

Get a Clear Vision of Your Dream Lifestyle
Here’s a question for you:

What do you want your business and life to look like three years from now?

I asked because not enough entrepreneurs make the connection between their dream lifestyle and their business. But why is this connection crucial?

Your business is the vehicle through which you can create the life you desire.

Now, most people don’t set up their businesses correctly because they fail to see this connection. That’s why we see the “leaf in the wind” behavior. Entrepreneurs and business leaders hope that their companies can give them their dream lifestyle.

But it doesn’t work like that.

Instead, in perhaps nine out of 10 cases, business owners wake up realizing they’re working too hard. Their money isn’t enough, and their businesses actually become their lives.

Having a clear vision of your dream lifestyle three years into the future will give you a glimpse into how your business should be set up.

Think of it as reverse engineering your business model, structure, and strategy from the results you want to achieve. And three years down the line should be easy enough to envision, right?

Ultimately, you’ll get clear on your goals if you can envision your lifestyle. And after you clarify your goals, you’ll be able to build your business as the perfect vehicle to enable those goals.

Consistency Will Make Your Business Stand the Test of Time

Do you want to be a fox or a hedgehog?

As you know, foxes are agile creatures and can adapt to do many things. But they also have a low attention span despite being shrewd.

Hedgehogs are very different. They plot their paths slowly and curl up in a protective ball when they sense a threat.

A fox might try to outsmart a dangerous situation while a hedgehog is comfortable, knowing nothing can penetrate its spiny exterior.

Most entrepreneurs operate like either foxes or hedgehogs. But one type of behavior will make you successful while the other won’t.

Truth is, there are times when you might have to pivot and learn new things. But you should also be aware of what you’re good at and work towards getting results consistently.

If you want to be a fox and become an expert at everything, you won’t get very far in business.

Companies that withstand the test of time will display hedgehog behavior. They’re always consistent on their path, play to their strengths, and are well-protected.

Meanwhile, companies built on foxlike strategies can be highly dynamic but may never pull ahead far enough.

The 3 Key Steps to Setting Big, Achievable Goals

Step 1 – Identify Your Passion

To start setting big goals so you can learn how to structure your business, you first need to go back to what you’re deeply passionate about.

Now, if you lost track of your purpose or passion, it’s time to ask yourself some questions.

Remind yourself of things that bring you joy. Take a look at the books on your bedside table. Think about articles that grab your attention or the things that spark heated conversations with other people.

Where would you take a stand without a second thought?

Once you find that passion and excitement, you’ll have the fuel your growth plan really needs.

Step 2 – Playing to Your Strengths

The next step would be combining your passion with your strengths.

But don’t get the wrong idea here. Your strength isn’t necessarily something that you’re the best in the world at.

Rather, your strengths are the attributes, talents, or skills you feel comfortable developing further, to the point of becoming an expert.

What’s more, you wouldn’t mind working on developing those strengths because of your passion. The more you grow, the faster you can become an expert and claim that expertise.

Step 3 – Choosing a Passion That Provides an Income

Now comes the tricky part:

You can be passionate about many things. However, the reality is that not all of your passions can generate an income, despite how good you are at what you do.

So, ask the hard question.

What is it that people are willing to pay you for?

There’s no point in having a business model around something you’re super passionate about or great at but that no one wants to buy. Otherwise, that’s more of a hobby than a business.

Set Your Goals to Correct the Course of Your Business

Your business can enable you to have whatever lifestyle you desire so long as you structure it to reach specific goals. So, one of the most essential tasks you have to do as a business owner, entrepreneur, and leader is this:

To come up with big, clear, and achievable goals.

Once you understand where you want to get, you can map out the path that will take you there and set every milestone along the way.

Use your passions and strengths to figure out the best combination that’ll help you create and reach your desired goals. Find out what your audience wants and build your business at the intersection of those three elements.

That’s how you gain control and avoid being battered by the elements like a leaf in the wind.