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It’ much easier to talk about making a plan than to actually create one. One of the first issues you’ll encounter is determining how to prioritise each task. This is why it helps to divide your plan into three categories:
- Would like to’s
By categorising your priorities this way, you’ll have a better understanding of what is important, as well as the best way to approach it. Let’s look at these categories in more detail, helping you to differentiate immediate needs from short- and long-term goals.
“Needs” refer to what you’re business cannot survive without such as paying the bills, obtaining product, maintaining a monthly profit. A “need” should always be your first priority, and the goals you set for yourself should reflect these.
“Wants” represent what you want to achieve either a business or personal goal. For example, you might want to boost your annual sales by 25%, or take a holiday at the end of the quarter. “Wants” are a great way to chart your course in the short term, and can be of great use in motivating both yourself and your team to raise the bar. However, it’s important to remember that a want isn’t necessarily a priority for you, nor will it provide the kind of long-term vision that is required for you to attain true success.
Would Like To’s:
“Would like to’s” will ultimately be your guiding force in the long run, and ideally your “wants” and “needs” will align with what it is that you hope to achieve. If your “needs” are barely being met, then you won’t be able to satisfy your “wants” or achieve your “would like to’s.” Don’t just meet your needs – beat them.
Instead of breaking even, reach for a 20% profit by the end of the year. Then, use those profits to expand your business, attract more clients and perpetuate a virtuous cycle of self-propelled growth!
Each one of these three types of priorities have their own important role within your growth plan. Keeping them in harmony with each other is a crucial underpinning in successful businesses everywhere. If you understand how to balance these priorities when creating and executing your plans, you’ll be amazed at how much more smoothly everything runs.
Quarterly Planning & Goal Setting Workshop
If you have goals you want to achieve over the next quarter, our next ActionCOACH Quarterly Planning & Goal Setting Workshop takes place on July 13th. For full details on this full day workshop and to book your ticket click here.