Building a System Instead of Just Setting Goals
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Chapter 1: The Challenge of New Year's Resolutions
As January rolls in, many of us are filled with optimism, setting resolutions and envisioning a productive year ahead. However, by the end of the month, that enthusiasm often wanes as we become overwhelmed with daily responsibilities, longing for just a few extra minutes in bed.
While I appreciate the value of goal-setting, I believe they have significant drawbacks. Goals are often seen as indicators of success, but they can be misleading. They reflect outcomes that are determined after the fact, making them lagging indicators.
For instance, consider a company's profit goal. Profit is assessed at the year's end, only after all actions have been completed. Once calculated, it cannot be adjusted, meaning it is reactive rather than proactive. Instead, we should focus on lead metrics.
Lead metrics are those measurable factors that can influence future outcomes. For example, a salesperson's number of outbound calls can be a lead measure. If we know that a certain percentage of calls result in sales, we can estimate how many calls are necessary to achieve our desired revenue, thereby ensuring we meet our profit goals.
While goals ask, "Did we achieve our profit target?" systems inquire, "What actions can we implement now to ensure we meet that target?"
"Goals revolve around desired outcomes. Systems emphasize the processes necessary to achieve those outcomes."
Systems are essential because they help create results that align with our objectives. Unlike static goals, systems can be adjusted if they lead to undesirable outcomes. Once you know whether you've achieved a goal, it's often too late to change your approach.
My Personal Experience
In January, I began working full-time at my new agency, which focuses on podcast-centric marketing strategies, assisting businesses in creating podcasts and leveraging that content for broader marketing efforts.
My target for the agency in 2022 is to generate $500,000 in revenue. To reach this target, I am developing a system to facilitate this outcome. Here’s my approach:
Networking: Each week, my co-founder and I need to engage in networking. This strategy has been pivotal in the growth of my previous companies, as most of my business has come from referrals.
Goals for Networking:
- Send out twenty emails weekly to reconnect with contacts and schedule calls.
- Make ten calls each week to catch up, learn about others' projects, and discuss my agency.
Content Creation: Consistent content keeps our agency at the forefront of clients' minds. After a successful networking call, I want to produce relevant content that my contacts will see, reminding them of our services.
Goals for Content:
- Produce one podcast episode weekly.
- Create three videos from the podcast recording.
- Develop four social media graphics based on podcast content.
- Host one live stream on our social channels.
Outreach: To accelerate growth, I’m also implementing cold outreach to potential clients. However, instead of a direct sales pitch, I’m inviting them to be guests on my podcast about maximizing marketing content. This strategy serves dual purposes: it helps generate more content and provides a non-salesy reason to connect with prospects.
Goals for Outreach:
- Send ten emails to potential podcast guests.
- Aim to record one episode weekly.
Final Thoughts
By constructing a system like the one outlined above, I establish clear inputs that yield specific outputs. I base my metrics on past experiences but remain flexible to adjust them as needed. Monitoring revenue as a lag metric at the end of the month or quarter allows me to fine-tune my system proactively.