Why Short-term Goals Make Long-term Business Sense

This year, the travel industry experienced more turbulence than before. With the onset of the Kovid-19 pandemic, international dynamics hit record lows, stabilizing many wanderings. Although recent research suggests that our appetites for travel have skyrocketed, our booking windows are smaller than ever before – meaning we’re tightening our plans just before we leave. Should anyone be surprised?

It is difficult to make long-term plans when the world seems so unpredictable. The same is true for setting goals. With all of the uncertainty, it can also feel ultra-serious, pointless, to set far-reaching objectives – paying for such a holiday we can’t be sure we can take.

Why Short-term Goals Make Long-term Business Sense
Why Short-term Goals Make Long-term Business Sense

But for entrepreneurs, goal-setting is as important as ever. As the author explained by Dorie Clarke and Patricia Karl Harvard Business Review:

“[S]Setting goals and plans for the future is an essential aspect of our sense of well-being, as it can help overcome the helplessness and loss of control you are feeling in the current environment. “

But instead of setting huge, audacious goals for your business, I would recommend starting small. Why here

1. You are more likely to get started

If you are a runner – or better still, if you are not a runner – the idea of ​​training for a marathon can be intimidating. So much so that you can throw in the towel before race day. But set your sights on 5k, instead, and I’m sure you’ll feel more confident.

Related: How To Maintain Motivation From Start To Finish

Because sometimes, when goals are too ambitious, we lose motivation.

Sonia Thompson, founder of TRY Business School, explains: “Setting the bar too high can serve to motivate and discourage you from ever starting.”

Set more palatable goals and you are less likely to set yourself up for failure. And by “small” goals I mean both scope and timeframe.

Take from Sam altman President of Y Combinator and Open CEO:

“Annual goals are difficult. Try Monthly! Not so hard and 12x feeling of accomplishment. Amazing what you can do in 12 small pieces. “

My company JotForm recently released JotForm Tables, a spreadsheet tool for managing and collaborating data. It took three years to build and if it looks like a long time, it is this: it is.

If we had engaged in knowing how long the project would take, we could have collapsed. But instead, we set small goals, and continuously tested, tested, and improved until we developed a product that we were sure our users would like.

Don’t get ready to run a marathon or create a perfect final project. Start with a short-term goal, lift your sneakers up, and hit the ground running.

2. Mixed benefits – and motivation

but wait, You might be thinking, Aren’t we gonna swing to the fence?

Setting short-term goals does not mean lowering your ambitions. As Corey Fradin, the founder of QuickBoost writes:

“[T]He could sell himself short, but could also see incredible compound profits being 1% better every day. “

Those short-term goals add to long-term achievement. What’s more, they help you build momentum. Harvard Business Review Researchers explain how the power of most incremental progress actually works.

“Of all the things that can boost feelings, motivation and perceptions during a workday, the most important one is making progress in work. The more often people experience a sense of progress, the more likely they are to be creatively productive in the long run. ”

Related: 15 Business Negotiating Tips

This is why our teams at JotForm continue their work. They can tackle a new project on Monday, then by Friday (our demo day), they are already sharing what they have created and any lessons learned.

Accomplishments, even modest ones, provide an instant motivational boost.

3. You are less likely to fail

This saying is true: you don’t know what you don’t know. Sometimes we underestimate our ability to complete a task or project – in fact, there is a classic psychology called the Dininging-Kruger effect, which assumes that our own ability compared to good performers performing poorly Are likely to reduce Why?

Art Markman explains Harvard Business Review:

“Poor performers are unaware of the many elements that go into expert performance, and thus they highly trust their ability to complete all the tasks necessary to succeed.”

So, why is it relevant to goal setting?

Because of our tendency to reduce our abilities in areas where we may have insufficient knowledge or experience, which can ultimately cause us to fail on larger goals.

To fight this trend, try to think more short term. With this approach, you can learn and refine as you go – which deflects any hidden confidence – and hit a benchmark once in a while while on course for long-term success.

Where will we go from here?

Looking ahead, as we entrepreneurs continue to navigate these turbulent waters, what can we focus on creating Go global Call “micrographs” – breaks your long-term ambitions into shorter, more manageable parts.

As QuickBoast founder Corey Fradin highlights, “The key factors to a small goal are that they are achievable and flexible. This last part is particularly important, as our goals often change over time. ”

In light of the Kovid-19 epidemic, the goal of your business may develop very well next year. So be flexible and don’t forget the final destination – the reason you started your business – but keep your mind on your next desired stop.

Related: 100 Best Break Up Motivation Quotes


https://www.entrepreneur.com/article/358406

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