How can creators like us, who are new to building online businesses, who have high-value skillsets, how do we scale our monthly recurring revenue (MRR) to get us the freedom we desire? That is the question, and this newsletter will give you the answers. Be sure to subscribe if these are the type of answers you seek.
My name is Boysie Gordon, and welcome to Boysie Talks Business.
In today’s episode, I want to break down my philosophy on goal setting and achievement. When I was new to entrepreneurship, I rushed out of the gates as fast as humanly possible.
I wanted the money.
I wanted the freedom.
I wanted the expessive car.
But shortly after this burst of effort came a spell of insurmountable exhaustion. I was burning my candle at both ends and it was all because I failed to set my goals up correctly.
Don’t be like me!
Start Off Stronger
See, it’s natural for us to want to gain something from our efforts.
But that desire, left unchecked, can quickly descale your business. Many people see goals as a way to unlock dreams, but I see them as a method to keep you locked in on your actions.
Goals should guide your actions and make your dream feel realistic.
Here are a few rules I use for goal setting!
1. One at a Time
So many times in my life, I’d set goals and forget about them.
Well, this isn’t a crockpot or a pressure cooker.
This is life.
Losing focus on a goal for one second can compound into failure.
But there’s a way to set yourself up for success.
Focus on one goal at a time!
For me, my only goal this year is scaling $15k/month in MRR by August.
What does this do?
Adds accountability
Limits distraction
Focuses effort
All these benefits only make it easier to achieve your goal!
2. Expiration Date is Required
Another problem with my earlier goals is they didn’t motivate me.
Which is why I could set them and forget them.
To avoid this,
Give your goal a deadline!
My current goals has a deadline of August 2024!
That means I only have 5.5 months to get to my goal.
That added pressure will push me to do whatever is necessary.
3. Don’t Share the Goal for Dopamine
Many people don’t realize this…
But when you share your goals, you receive the same amount of dopamine as if you had accomplished the goal. That’s why, for the most part, I keep my goals private nowadays.
“But Boysie, you just told us your goal! You hippocrite!”
Yes, but two things:
I didn’t tell you my goal to feed my ego.
I didn’t share with you the complete goal.
I have spoiled so many of my past goals that I have recognized when my goals become deflated from oversharing.
Keeping your goal a secret will boost your motivation to complete it!
4. The Reward Must Be Worth the Work
The last thing is very important.
Your goal must be worth the work required.
If my goal is to make $1,000 per month online, would I feel comfortable putting in 100+ hours a month to accomplish it?
Probably not, that’s less than $10/hr… I could work at the McDonald’s down the street and save my brain the effort.
One thing that you have to understand is that human nature is geared towards self-preservation!
So, if you can’t logically justify the reward to yourself, then your brain will work against you.
Make your goal large enough so that the effort pales in comparison to the reward.
For me, $15,000 a month from an online business does a couple of things:
I can work from anywhere with the internet
I can live comfortably anywhere in the world
I can complete my dream board comfortably
This is my version of freedom!
And for that, I’d work as hard as I can for as long as it takes!
The Key to Achievement
I hate to pull a Wizard of Oz moment here, but…
The key was within my rules all along!
Always give yourself an edge.
Every rule that I have is about:
Increasing the odds.
Working with your brain
Removing friction from the process
While taking consistent action as often as possible is the obvious key, I assume that if you’ve read this far, you have no problem with doing that.
So help you future self out by creating a process that feels natural and keeps you focused. Leverage every possible resource you have at your disposal to give you a strong, sustainable start.
If you’d like to have me as a resource in scaling your business, schedule a meeting with me—mybluepath.com
If you enjoyed this article, be sure to subscribe so you can get more daily content from me!
Thanks for reading!
EP. 6 How to Give Yourself an Edge From Proper Goal-Setting