As a leader in a family business, your "why" likely extends beyond personal ambition and may include aspirations like:
- Fulfilling a Family Legacy: honoring the hard work and sacrifices of previous generations.
- Ensuring the Business's Long-Term Sustainability: securing the future of the business for today – and for future generations.
- Creating a Positive Impact on the Family: providing opportunities for family members to grow and develop.
- Contributing to the Community: leaving a positive mark on the community where your business operates.
To be a successful leader, you must both have this “why” as well as a vision on how to achieve. But that won’t get you from here to there. To be successful, leaders must think big but then apply practical goal-setting principles to ensure this vision comes to life.
Developing SMART Goals
As a leader, your goals should certainly align with your overall vision for the business. Often times though, this vision is out of alignment with our personal values or sense of satisfaction and fulfilment, leaving leaders with either lower energy and motivation toward the goals, or a difficult journey to goal achievement.
To be able to create and achieve the vision for your future success, leaders must consider:
- The Why: ensure that goals are tied to a bigger-picture perspective and are connected to intrinsic values and motivators. To be successful with goal setting, that connection and deep understanding are critical to ensure that you can make it from beginning to end.
- Ambitious Yet Attainable Goals: don't be afraid to set challenging goals that push you outside your comfort zone. However, ensure they are realistic and achievable within a reasonable timeframe.
- Prioritize and Focus: identify your top priorities and focus your energy on achieving those goals first.
- Break Down Large Goals: divide large goals into smaller, more manageable tasks or key milestones to get you closer and closer to the end goal. This makes the journey less overwhelming and provides a sense of accomplishment as you complete each step.
- Continuously Learn and Adapt: be willing to learn from your mistakes and adapt your approach as needed. The business landscape is constantly evolving, and your goals should evolve with it.
As you determine your goal and that future aspiration, be sure to consider the SMART format.
- Specific: clearly defined and focused.
- Measurable: quantifiable with specific metrics.
- Achievable: realistic and attainable within a given timeframe.
- Relevant: aligned with your overall objectives and priorities.
- Time-bound: have a defined start and end date.
I also highly recommend adding “A” for accountability to your SMART goals. The more we put our goals out there and lean on our family and community, the greater the likelihood of our ability to achieve.
Tips for Achieving Goals
- Cultivate a Growth Mindset: embrace challenges as opportunities for learning and growth.
- Develop Strong Time Management Skills: prioritize tasks effectively, minimize distractions, and make the most of your time.
- Build a Supportive Network: surround yourself with a network of mentors, coaches, or like-minded individuals who can offer support and guidance.
- Practice Self-Reflection: regularly reflect on your progress, identify areas for improvement, and make necessary adjustments to your approach.
- Celebrate Your Wins: acknowledge and celebrate your successes along the way. This helps to maintain motivation and momentum.
By focusing on personal growth and development, leaders can not only achieve their goals but also inspire and motivate those around them. Remember that your success as a leader is inextricably linked to your personal growth and well-being.
Remember:
- Your "why" is your compass.
- SMART goals provide a roadmap.
- Consistent effort and a supportive environment are crucial for success.
By aligning your goals with your "why" and embracing a collaborative approach, you can guide your family business to new heights of success while preserving the values and traditions that make it unique.
Partnering for Success
Achieving ambitious goals often requires support and guidance. Working with a qualified coach can provide valuable insights, accountability, and personalized strategies to help you navigate challenges and stay on track.
By focusing on personal growth and development, leaders can not only achieve their goals but also inspire and motivate those around them. Remember that your success as a leader is inextricably linked to your personal growth and well-being.
If you're ready to take your leadership to the next level, consider partnering with a coaching team that specializes in helping leaders like you achieve their full potential.
Tami Chapek, PCC
CEO and Founder | Executive Leadership Coach
WeInspireWe
If you are interested in topics that address leadership roles in your family-owned business, please join us at our Leadership Development monthly sessions that Tami facilitates. Contact Amy at adotts@familybusinesscenter if you have any questions about this group.