Success and Goals

Success,

What does that mean to you? How will you achieve it? And how will you monitor your path?

These are all great questions to ask yourself and ultimately define. After all if you don’t know what your reaching for you will never get there.

As we mentioned in the last post success can be defined in several ways, monetarily or through accomplishments and ultimate happiness. Your idea of success may be to make a million dollars per year, that’s a great goal and would help with a number of things in life. Consider though that you made that amount per year, yet had o time to enjoy it. No that wouldn’t be a very successful life in the opinion of some. Some value relationships and the ability to build stronger and more meaningful relationships, which takes time. Don’t get me wrong having an abundance of money can give you the free time needed to foster these types of relationships.

Take just these two examples and you can see how “grey” the definition of success can be.

The first thing everyone should do as they start on their entrepreneurial journey is define what their idea of success is. Define what they want to gain from their journey and how that will look 1 year, 2 years and even 3 years down the road. Now where starting to make a roadmap that can lead you to your defined destination.

I suggest looking 5 years down the road and setting each year up to the fifth as a milestone. During the first two years, you may break them up as this part of the journey is crucial, so maybe 6mo, 1yr 18mo and 2 years. For instance, if your monetary goal is to have 250,000 in sales by year two how will that look on month 6? Maybe it’s only 50K, then at 1 year its 125k and so on. Each milestone gives you something to gauge your journey against.

In this example if your 5-year goal is 1,000,000 in revenue you can easily plot out the milestones that will lead you to your destination.

This is fairly basic goal setting techniques but we highly suggest writing this stuff out and holding yourself accountable to it.

You can and should go a little more micro with your planning as you develop your product or service. It might look something like this if you sell a widget. Knowing you make $5 profit per widget and your 6-month goal is $50,000 you know you need to sell 10,000 widgets. If your average order size is 100 then you will need 100 orders. On a weekly basis, you would need to make 4 sales and each sale takes 100 phone calls to get a “yes”, then you had better plan on calling 400 prospects per week or more.

You can see how easy this process is once you know a few variables and you can literally plan down to the hour how many phone calls you need to make.

So, as you begin your entrepreneurial journey be sure to set your goals and plan accordingly. As a wise man once told me “Plan your day and work your Plan”, it’s that simple. My mentor is now one of the Boise area’s top towing companies, Tow Boise, and has ran many successful businesses and sales teams.

Another key element in my success and that of any other business owner is they had mentors. Someone willing to help answer questions and teach them the “ropes” if you will. I would highly recommend finding a mentor. It can be someone you know or possibly another business owner in compatible industries.

Thanks for checking out this post and we will be posting again shortly….

Success, Entrepreneurship & Development

Welcome back.

As we get this website kicked off I wanted to discuss and define Success, Entrepreneurship & Development. Each plays an independent role but are also very closely intertwined.

Success- this is a relative term as some think success is piles of money, while others feel success is more than money to include a happy healthy life style. Money is a factor in the second but not the ultimate judge of your level success.

This is best defined by each individual and should be one of the first steps in planning your journey. Is it a million dollars that will make you feel like you “made it”? or is it a work/ life balance that lets you enjoy your family and your work, while giving you the money not to stress?

Entrepreneurship- As defined by: https://en.wikipedia.org/wiki/Entrepreneurship

“Traditionally, an entrepreneur has been defined as “a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk””.

I think a big thing most people forget or neglect to recognize is the risk involved in starting any business. One must research and develop a market analysis before jumping into a specific market. Failure to do so may be the recipe for disaster.

It takes hard work and numerous hours to run your own business. Many people who are employees think they have a valuable skill, which they might, and so they can start their own business and make tons of money. However it takes more than a skill set to make it as a business owner.

It takes a certain business acumen or mindset. One that realizes there are numerous aspects to business. From acquiring new clients all the way through retaining those clients. On top of the fun stuff like acquiring new clients a business owner has to comply with numerous regulations and taxation.

Entrepreneurship can be very rewarding if approached in the correct way. At the same time it can be very daunting and overwhelming if you simply just jump in without proper planning and due diligence.

Ultimately we want to help each and everyone of you achieve a successful entrepreneurial venture. in order to do so we will be posting some of the fundamental steps you should take. Each industry is bit different, but the foundation, for the most part, remains the same.

Development- Lets face it if we’re not learning we stay fairly stagnant in life and the same goes for business. You must develop your skill set to become a professional and have people pay you for a service or product. In the same way you should constantly seek to develop your business acumen.

Development can come in the form of administrative tasks such as bookkeeping and staying on top of your numbers. Another important skill is the ability to communicate your value to potential customers, also known as sales. Sales is arguably the most important thing in any business because without a continuous flow of new customers your business becomes at the best stagnant and at the worst it collapses since you cant pay the bills.

We will cover some key training programs and books we have used and recommend every business owner consider. After all if you don’t continue to develop your competition will. Assuming you have an advantage today, they will soon catch up and ultimately pass you in the competitive race of business.

Thanks again for jumping on and checking us out and we look forward to posting again soon. If you know of any successful small business owners who you think we should Spotlight, visit our about page and submit a bio.

Thanks again

Welcome

Welcome to the Ultimate Mens Club for Success, Entrepreneurship and Development, UMCSED.

We are excited to have this blog to help men young and old develop into the future leaders in their communities. We will be discussing some of the things the successful have dome to develop into the entrepreneurs they are today. We will have various spotlight articles on different business owners and the unique ways they have found to enjoy what they do and make a great income at the same time.

We hope you gain great insight into what it takes to be successful. As well as some useful tools to help you along your path.

W.