Why I Only Have Three Business Goals for 2015

Feb 05

Why I Only Have Three Business Goals for 2015

There’s a story going around about Warren Buffett. It seems he was asked for advice from a friend who had a large business. They’d just had their annual meeting and were upset about the goals that hadn’t been completed last year and were upset about the list of things to do for this year. Mr. Buffett looks at the list of twenty-odd projects that came from the annual meeting and he told the business owner, “You’re doing it wrong. This is a to-do list, not a project list. You should only focus on three to five projects a year.” The story says the business owner does just that. His team chose the top three projects to work on and they met their goals for the year.

 

Creating a Strategy and a Framework

This story impacted me because I tend to go off on tangents. I get sidetracked by the next shiny object. But this story, along with SPI Podcast 129 – How to Scale Up Your Service Business made an impression. One of the things Josh Shipp said in that podcast was to make one change or do one project and not stop until it was profitable or it was clear that it wasn’t working out.

So with these stories in mind, I created a business strategy for 2015 and focused on the top three business goals I want to accomplish in 2015.

Our freedom businesses are built on four pillars – eCommerce (physical products on eBay and Amazon), niche websites, ebooks (on Kindle and other formats), and offering services. Some of these projects are in maintenance mode and some are just beginning. It was clear to me when I went to work outside of our current job that I was trying to work on too many projects at once. I needed to step back and reevaluate.

 

Evaluate Current Projects

We currently have the following income streams in our pipeline:

Five niche websites (three are authority sites or will become authority sites)

Four ecommerce platforms (selling physical products)

Five ebooks sold through Kindle and other platforms

Two services offered

 

Setting the Priority Goals

After evaluating all we had going on, I decided to focus on the following goals:

Grow blog traffic and see more engagement with readers

Grow Facebook traffic and engagement

Grow our eBay store to 500 items

Why did I choose these three, especially when I don’t make an income from this blog?

I expect this blog to be one of our authority sites. Our goal with this site isn’t just to make an income, although we will eventually add in products to sell and we already use some affiliate links. The primary goal here is to share our journey and our vision of a creative and abundant life. We want to encourage others to go after their dreams and fulfill them. In order to share this vision we need to let others know we’re here.

The Facebook engagement is on the same level as the blog. We want the Facebook platform to encourage others who are starting a journey or in the midst of a journey toward reaching their goals. (Have you liked us on Facebook yet?)

We want to increase our eBay store because it’s the hub around all of this. Selling on eBay and Amazon will provide the majority of our income as we travel. It’s providing the money we’re saving now to buy our camper. I feel like we spent most of 2014 moving and getting settled in San Antonio. Now with our goal of traveling full time only a year and a half away, it’s time to get it to the place where we’re selling something everyday.

 

Staying Focused

I’ve already had several shiny objects jump into my path. I even spent a day researching and reading about one such opportunity. But at the end of the day I took out my index card where I wrote our goals and read it again. I asked myself, will doing this project help me meet these goals? Will it grow the blog traffic and engagement? Will it help grow the Facebook likes? Will it increase items and sales in our eBay store? If the answer is no, then I write the idea down – I have several notebooks but I also use a notepad app in my phone – and then let it go.

 

The System

I’m still tweaking and perfecting this system and practicing staying on target with our goals for 2015, and as I get it written out I’ll be offering the complete system FREE here on the blog. I’ll offer it to the awesome people on the newsletter first, so if you’d like to be first in line to grab a copy of The SMART Goals Guide for Dreamers, be sure to sign up for the email list.

 

Talk to Us!

Are you sticking with your goals or resolutions for your business? Any tips to share? Let us know in the comments or get in touch on Facebook or Twitter.

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