by Dave Ramsey
Published with permission in the February, 2016 newsletter
Have you noticed that there are some business owners out there who just seem to get it right? Whatever they touch turns to gold. And the last time they were stressed, Bill Clinton was in the White House. So how do they do it? What’s that magic formula that makes them so blessed while so many of us continue to struggle?
For the majority of successful people, it’s as simple as this: They write down their goals and stick to them. They have a plan. As financial expert Dave Ramsey teaches in his book EntreLeadership, “Goals force practical steps into your life to make your dreams come true.”
So if you haven’t tackled your business goals for the new year, we’re offering some general suggestions to help you get started. Remember, though, they’re only recommendations. Because in order for goals to truly work, they have to be your own.
1. Get your finances in order
Want to know the number-one reason small businesses fail? Poor accounting. If you don’t keep up with it, you’ll sink faster than Leonardo DiCaprio in Titanic. But that’s just the start. You can’t rely solely on a profit-and-loss statement to tell you what’s happening with your business. You need a budget that focuses on the future. “Doing a budget will make the obvious become a reality and force you to prepare and think of options,” Dave says.
2. Commit to a better hiring process
The main reason small businesses owners hire the wrong people is they are afraid the work won’t get done until the position is filled. But the truth is that it takes more time to hire six people who don’t work out than one good person who’s perfect for the job. Commit to slowing down your hiring process and invest more heavily in interviews. Hold off until you find the perfect person, no matter how long it takes. At Dave’s company, each new hire has been interviewed at least six times. You want someone who is passionate about the position, not just looking for a J-O-B.
3. Find a mentor or coach
What is one trait that almost every successful entrepreneur has in common? They have a mentor—an experienced someone who shows them the ropes and holds them accountable. Find people who are doing things you wish you were doing and learn from them. And you don’t have to stick to just one. You can have a different someone for every area of your life.
4. Get healthy
When you get really tired, you don’t have a lot of fight left in you. And in business, there’s always going to be a battle. So like that old song goes, take good care of yourself. Get in shape, eat good food and get enough rest—literally feed your engine so you can fight another day.
So what are you waiting for? Write down those goals and get started. You’ll be amazed at where you’ll be. Goodbye, stress. Hello, prosperity!