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As solopreneurs, it’s hard to keep the clarity of our path because so many responsibilities rest on our shoulders and there’s always more to do. Goal setting is a powerful tool to keep us on track in our entrepreneurial journey.
Michael Hyatt, the longtime leadership expert, NYT bestselling author, and successful entrepreneur, offers insight, grounded in personal experience, and bolstered by research, to illuminate the power of setting and pursuing well-defined goals.
8 Key Takeaways From Michael Hyatt On Goal Setting
Here are my key takeaways from Michael Hyatt's advice on goal setting tailored for the ambitious solopreneur:
1. Documenting Goals Increases Success Rates: The act of writing down your goals transitions them from fleeting thoughts to tangible objectives, it clarifies purpose and directs your actions, which amplifies your chances of success.
2. Keep Your Goals Few in Number: Limit your goals to maintain focus. A narrow set of objectives is easier to remember and act upon.
3. Make Your Goals SMARTER: - I’m (almost?) sure you know what SMART goals are. What about SMARTER goals? SMARTER stands for: Specific, Measurable, Actionable, Risky, Time-bound, Exciting, and Relevant. So, SMARTER goals are SMART goals + Another R for Risky which Michael Hyatt says is better than playing it safe because risky goals force you to rise to the challenge + An E for Exciting, encouraging us to pick goals that excite us, inspire us, and connect with our internal motivation. Find out more about SMARTER goals here.
4. Review Your Goals Frequently: Regular review transforms your goals into daily actions, keeping you aligned and motivated. Michael Hyatt recommends reviewing our goals daily when planning our tasks.
5. Be Selective When Sharing Your Goals: Don’t share your goals with the world, instead, share them with those who will support your pursuit. Michael Hyatt changed his advice on this after getting some evidence to the contrary from Derek Sivers; see Derek Sivers TED Talk on keeping goals private here. The gist of it is that sharing our goals with the world creates the same psychological satisfaction that we get from accomplishing our goals but without having to do the work, so yeah, that’s not good. Read more about it here.
6. Leverage the Past for Future Success: The events of the past, particularly at challenging times, provide unique clarity on what truly matters. Use this insight to refine your goals, ensuring they resonate with your deepest motivations and align with the realities of your life and business.
7. Big Goals Drive Performance: Setting ambitious goals pushes us to extend beyond our comfort zones, enhancing both our achievements and our satisfaction.
8. The Right Mindset is Crucial: Goals should stretch but not overwhelm. Believing in the feasibility of your goals transforms your approach and your results.
If you want to learn about the science behind goal setting, visit this page on the Full Focus website.
How To Get Started with Goal Setting? Try A 90–Day Goal Setting Challenge
I’ve been planning, evaluating, and building my business quarter by quarter. I prefer it to annual planning because it keeps me in doing mode and allows me to realize problems and opportunities faster. If you want to get started with goal setting, how about starting with a 90-Day Goal Setting Challenge, as Michael Hyatt suggests here.
In a nutshell, here are the steps for a 90-day goal setting routine:
Let's draw on the lessons from Michael Hyatt to set goals that not only propel our businesses forward but also contribute to our overall well-being and satisfaction. Whether you're looking to refine your services, expand your client base, or simply find more balance in your work-life integration, goal setting is the compass that will guide you to your destination.
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