As much as we look up to ‘overnight success’ entrepreneurs, the majority of business owners achieve long-term success through the process of setting goals and building a successful fashion business from the ground up.
However, it can be hard to feel like you’re making progress when it’s the slow and steady kind! But starting a fashion business with a solid foundation involves ticking those boxes at the start that may not be all that exciting, and creating a comprehensive set of goals will help you identify how you’re tracking and allow you to celebrate the wins – no matter how small!
Our ‘Start Your Fashion Business’ programme offers a comprehensive goal-setting guide for new members, and we want to share a taste of this unit so you can get your business off to a good start in 2019! So let’s tackle our top 5 goal-setting tips, straight from our SYFB programme syllabus!
1) PREPARE A GOAL SETTING FRAMEWORK
Some people can write down 20 goals in 5 minutes, and others find it hard to summon even a hand full! It pays to be able to identify goals, but you should also be selective. If you set too many, you’ll be more likely to feel burnt out and see fewer outcomes. If you set too few (or none at all) you could be setting the bar too low and not reaching your full potential!
When it comes to setting goals, our first piece of advice is to separate them into 3 different categories: Learning & Development, Business Goals and Life Goals. The main objective of categorising your goals is to be realistic and remember you need to have a work/life balance. You could be smashing your business goals, but if your life goals are being ignored, your quality of life could be suffering (#selfcare).
As an aspiring business owner, you should also strive to be learning as much as possible (with courses and programmes like SYFB!), so setting some goals around your learning and professional development will help improve your knowledge and skills, which will benefit your career and business.
Start by listing at least 3 goals in each category, and make sure they’re achievable but also challenging. Break it down, and keep it simple!
2) CURRENT STATUS
Now that you have your ideal goals listed, it’s time to take a look at where you are right now. The best way to do this is to apply the ‘4 R’s method’ – Reflect, Refocus, Refresh and Reset.
You should look at what makes you feel confident, as well as what makes you feel uncomfortable. Make a list of your core strengths, and then (being kind to yourself, of course!) list out what you see as your main areas for improvement. Use this information to ‘reset’ your original goals from Step 1, tweaking if needed.
3) THINK TANK – SWOT
Now that you’ve identified your current situation and set some basic goals across 3 categories in your life, let’s focus in on your business. In this ‘Think Tank’ exercise, you’ll perform a SWOT Analysis (Strengths, Weaknesses, Opportunities and Threats) on your business and really take an honest look at what’s working, what’s not and what you’ll need to change to achieve those goals you listed in Step 1!
It’s uncomfortable for everyone to acknowledge what’s not working, but without this crucial exercise, the change that you need to make to achieve your goals simply won’t happen!
‘If you do what you’ve always done, you’ll get what you’ve always got.’ – Tony Robbins
4) GOALS & TIMEFRAMES
The next step is breaking down the goals you’ve listed to make sure you’ve defined what ‘success’ looks like for each of them, and what progress will look like in 3, 6, 9 and 12 months’ time.
For each of your goals, you should be able to answer these 3 questions:
‘What do I want to achieve?’
‘In what time frame do I want to achieve this?’
‘What does success look like in March, June, September and December 2019?’
5) OBJECTIVES & STRATEGIES
Now you’ve sorted out 1) What your goals are, 2) Where you are now, 3) Your SWOT Analysis and 4) Timeframes and defining what success looks like – it’s time to implement some specific and measurable strategies to achieve these goals.
Perhaps it’s as simple as blocking out 1 hour at the beginning of each week for a ‘Self-WIP’ to look over your goals for the week and how you’ll achieve them. Maybe you’ll also look at the previous week and review whether you were productive, and if not, identify what was stopping you from achieving your goals.
You could even consider finding a mentor to meet with you once a month to keep you accountable for your goals. All of these strategies will help you keep your goals in focus and ensure they don’t fizzle (like many New Year’s resolutions!).
Luckily for you, our SYFB online programme will not only go through all of these goal-setting steps in more detail, but you’ll also gain access to key strategies, be supported by mentors and join a community that will help you stay on top of your goals and make sure you’re tracking towards success throughout the year.
What better way to start 2019 than signing up to our SYFB self-paced programme and making the fashion business, YOUR business?
Let’s go smash some goals in 2019!