The importance of setting clear business goals by defining your purpose, vision,. Watch the full video — free, no account needed.
This video emphasizes the importance of setting clear business goals by defining your purpose, vision, and mission. It also highlights the significance of involving your team and getting their buy-in to achieve these goals effectively while avoiding distractions.
Hello, everyone. This is Alejandro Cremades, and today we’re going to be talking about how to set business goals. Before we get started, make sure that you hit that subscribe button, and this way you will never miss out on any of the videos that we roll out every week. So, really knowing your path forward; understanding what’s going to be the way to go is, without a doubt, the way that you want to get your team enrolled and everyone pushing in the same direction. In today’s video, we’re going to break it down for you so that you can understand what’s behind setting some of those key milestones and key goals so that you can go at it with accomplishment. So with that being said, Let’s get into it. You need to get clear as to what is your purpose? What is your purpose? What is your why? What is the what? What is the how of the business? What is the vision? What is that mission? All those
are key things that you need to know because, ultimately, whether it is you wanting to be passionate and excited about what’s in front of you, you’re not only going to think about yourself, but you’re going to need that enrollment, also, from your investors, from your employees, from customers. And it’s all about having them be able to see that there is a future – a future in which they can see themselves living in and getting excited by it. Without the, you’re going to end up losing people. So, always, always, always, before you even think about metrics, before you even thinking about being wildly successful, you need to have the right type of vision and the right type of alignment around it so that people can really come in with you and push and get through whatever is in front of you, whether it’s good times, whether it’s bad times, where you need to adjust, pivot the business, learn
from whatever failures so that you can get back up and running, that’s why you need to have a north star. You need to have something that is guiding you guys through the good times and the bad times and whatever that is, but you know that there is a clear future and a clear path that you’re all aligned to accomplish. Get your priorities straight. Honestly. The thing is that always, there’s going to be a new shiny thing that is going to be knocking on your door. When you’re executing, when you’re building something, scaling something, there’s always going to be all types of distractions coming your way. You need to understand, and you need to learn how to say, “No.” And honestly, when you’re able to say no, and you’re able to really be laser-focused on the execution, at that point, you’re going to be able to unlock unimaginable milestones. But for this, you need to avoid any type of
distraction, any type of nice potential partnership, any type of maybe like a retreat or whatever is distracting you from really achieving your milestones, put it aside. You need to always be thinking, “What can I do today that is going to move the needle forward to get me to where I want to be. To get me to where I want to see myself and my team and the business and our investors.” That’s why you need to avoid distractions and learn how to say no. Prioritize. Consult your teams. As the saying goes: you’re going to be able to go faster if you go alone, but farther if you go together. Your team may be seeing things that you’re not seeing, and for that reason, listening is critical. Be able to ask them the right questions because as a result of that, you might get the right answers for the execution, for setting up those goals, goals that make sense. For that reason, enroll everyone,
whether it’s your team, your investors, advisors, maybe people that have walked that same path in the past that can give you some feedback. You want to have others crowdsourcing that process, that journey, that path, those milestones, and have them help you to really make sure that you are on the right track. Get buy-in. This is really important, especially if you’re a little bit more mature as a company. You are going to have a board that is going to be overseeing the strategy. As the founder or CEO or perhaps senior executive, you’re going to have to pitch to the board your idea, the way that you’re thinking about those goals, the way that you’re thinking about accomplishing those goals, and they are going to need to approve that. So for that, you want to enroll them slowly in it. Before you go to that board meeting, you want to perhaps have individual discussions with them so that by
the time that you get to that board meeting where you’re going to be having this discussion, they’re already sold. They maybe have even had chats between themselves, and you’re going into a room where they are inspired by what is coming ahead and what is in front of you. In many cases, many of those board members perhaps would be your own investors, and maybe that leads to them getting excited about where things are heading. That may lead to a potential conversation of them wanting to give you more money. So maybe it’s an internal round where you don’t have to distract yourself by going out there and fundraising again. By the way, if you wanted to fundraise, below is the pitch deck template that founders are using all over the world to raise millions. It’s completely free, and I think that it will really help you. Make your goals visible. This is ultimately one thing that is going to
constantly remind you, whether you have to put it on the ceiling on top of your bed, whether you have to put it in the entrance so that all your colleagues are going to be seeing them every day – keep reminding what those goals are. Maybe there’s a plan: by this year, we’re going to accomplish A, B, C, and D. But you need to have that as a refresher, as a reminder all the time that [audio interrupted 6:36] pushing into that direction. You need to choose your KPIs wisely. By KPIs, I mean metrics. What are the critical metrics of the business that are going to determine the health, that health that is showcasing that ultimately that business is growing over the course of time? Those are metrics that you need to track, that you need to be laser-focused on and that you need to make sure that there is growth over the course of time, whether that is weekly, whether that is monthly, but again,
that is something that you really need to get aligned with your team. Know the benchmarks. Perhaps here what you can do is research the market, research your competitors, research out there to know that those goals that you’re setting are realistic, achievable, and actually grounded because, obviously, what you don’t want to do is come up with these goals that are completely out of proportion. Then, you put it in front of employees, and then they’re going to think that you’re crazy. So you can’t afford to lose the respect of your colleagues. When you are not grounded on the facts, on the what-so, you’re going to lose that respect, and you can’t afford that. With that in mind, always have benchmarks, always have things that you can go to and verify and compare. That will help you make sure that you have realistic stuff in place. Short, mid, and long-term goals. Just like Bill Gates says,
ultimately, human beings “overestimate what we can accomplish in one year, but we completely underestimate what we are able to accomplish in ten years.” With that, basically, put a plan in mind. Put a plan in place where – let’s say, where would you guys or gals like to see the business be in ten years? Then, you reverse-back-engineer the process to where you are today. Ultimately, you think about the short-term goals and the mid-term goals in a way in which you are taking immediate steps in order to get to that long-term plan that you’re envisioning – to those long-term goals, those long-term milestones that you want to accomplish over the course of time. But at least you’re really designing that path forward that is going to guide you all in the execution. So make sure that you hit a Like on this video, subscribe to the channel, and then also leave a comment below. We’d love to hear
how you’re thinking about the goals for your own business. Then as well, if you need any help when it comes to your own fundraising efforts, shoot me a note at alejandro@pantheraadvisors.com. We’d love to help out. Thank you so much for watching.