Every founder wants to make rapid progress and a big part of that is setting ambitious goals. So, how do you set goals that will both result in rapid growth and be achievable?
1. Stretch but Not Impossible Goals
While your goals should be ambitious, don’t make them silly. Zero to $1M in revenue in a month is not possible, but doing that in a year certainly is, that would mean at least $100k by the end of Q1 and likely $25k by the end of January.
2. Plan for Failure
Don’t set aggressive goals and then carry on as normal. Make a plan for the specific tasks you need to complete and ensure this plan has enough room for some ideas to fail.
3. Delegate
You can’t do it all, so this is not an opportunity to go into hero mode. Use the plan you just made to delegate out portions of the goals to others. This will increase your chances of success.
4. Adjust Over Time
As the team hits and misses the various goals you’ve set, adjust the next goals up or down accordingly. This will allow you to maintain motivation and accountability.
Best of luck out there.
Sterling Road invests in idea stage and pre-seed B2B startups based in the US, Canada and UK.
