As we enter a new year, it is important to set yourself up for success by setting goals that will help you reach your ultimate goal. Here are the top three productive goal settings to help you achieve better results in 2023. In this post, I will share my goal setting and the tool I used to help me move forward at light speed.
The first thing to do before setting the goal is to create an effective business strategy. Any successful business owner must have a sound strategy for short-term and long-term objectives. This includes planning out all activities related to:
- marketing and sales
- operations management
- cash flow management
- human resources management
- and more
A well-thought-out plan can ensure that you run your business efficiently and reach your goals faster.
Method #1: Strengthen Time Management
Time management is a critical skill in any workplace, and it’s essential to allocate time efficiently and keep track of how you spend it. Those who have mastered the art of time management can reap the rewards of greater productivity, improved concentration, and even better mental well-being.
But if you’re struggling with time management, don’t worry – there are many simple steps that anyone can take to improve their ability to manage their own time. For example, breaking tasks into smaller components (using ClickUp) to become more manageable ensures that all jobs get done on time and with high-quality results. It can also help to set realistic deadlines and focus your energy on one task at a time rather than multitasking. Keeping an organized calendar or daily planner is another great way of tracking your progress over time and enabling you to prioritize what needs doing and when.
How Do I Do This?
- Project Management Tool – After months of research, trial, and error, I finally found the perfect project management tool to manage my lead generation, client project tracking, and team collaboration. I found ClickUp. This cutting-edge project management tool offers real-time tracking for all projects in progress. Through its user-friendly interface, I can easily assign tasks and monitor progress – creating more time for me to focus on other aspects of my business. It also enables me to keep an eye on the big picture when managing my clients’ projects, allowing me to deliver high-quality work promptly. It also allows me to automate some lead-generation processes with Zapier Automation. The best part? This powerful project management tool allows me access from anywhere – making it an incredibly versatile solution that helps me drive productivity while also saving time!
- Time tracking – Believe it or not. ClickUp has a little Chrome browser extension that allows me to track my time on individual clients and projects.
- AI Tools – Utilizing AI Content Tools to create relevant content for social media channels saves lots of time
- Reduce Bookkeeping Hours – I’ve used Quickbooks’s automation and bank linking to do most of my tedious bookkeeping tasks. Without entering all the purchase receipts and tracking invoice payments, Quickbooks online saves tons of time. Time is Money.
- Reduce Administration Hours – Most of my administration tasks are done using online took like ClickUp, Google Calendar, Zapier Automation, PDFFiller, and SignNow, etc. Yep. It costs money to use those tools, but it saves me time to avoid human mistakes.
- Outsource To The Right WorkForce – There are specific tasks that I don’t like to do or can’t do better than others. I outsource tasks to a professional sub-contractor, including calling clients to follow up on a lead or tech support. Process HDR images to make the result consistent, etc.
Method #2: Increase Cash Flow
Achieving a greater return on investment (ROI) and reducing expenses can be key to increasing cash flow for any business. It is important to understand which investments offer the best return and what cost-saving measures may be available.
Investors can take advantage of special tax credits or incentive programs available in their area. At the same time, businesses should focus on efficiently and effectively using their resources, such as labor and materials. Additionally, businesses should identify areas where they can reduce overhead costs, such as utilities, supplies, or equipment leasing. Companies with multiple locations or branches can benefit from consolidating operations to realize cost savings across multiple sites.
By implementing strategies designed to increase returns on investment while at the same time cutting expenses, businesses can improve their overall cash flow and remain competitive in today’s market.
How Do I Do This?
- Invest On Interest Return – With inflation rising since the Pandemic, Federal Reserve keeps increasing the interest rate. It’s never a better time to put spare money on the Treasury Direct Government Bond Investment.
- Reduce Unnecessary Expenses – I’ve been cutting unnecessary expenses like On-Deman TV or Software subscriptions. Every little thing added up to the total cost. You will be surprised how much money you spend every month.
- Manage Smart Payment – Credit card processing is one of the biggest expenses for any business. Using low-cost payment solutions like VEEM, Zelle Transfer, or e-Check with Quickbooks will dramatically reduce your payment processing cost and increase cash flow.
Method #3: Prioritize Passive & Residual Income
Passive and residual income are two effective strategies for boosting long-term revenue and profitability. Businesses of all sizes can benefit from these sources. The key is to prioritize them to maximize their potential. By doing so, businesses can remain financially secure while expanding their reach and customer base.
Utilizing social media channels (Facebook, Instagram, YouTube) is an excellent way to increase outreach to the right audience, plus conversion tracking and creating broader awareness for passive and residual income streams. For example, companies may use organic content marketing and sponsored advertisements on platforms such as Facebook, Instagram, or YouTube. This approach allows businesses to target specific audiences more precisely while utilizing real-time engagement tools to track results.
Ultimately, expanding passive and residual income sources allows businesses to generate consistent returns over time while freeing up resources that can be used elsewhere in the business model.
How Do I Do This?
- Income Automation – This is what true residual passive income is about. You build products or services to generate residual income. Social media channels like YouTube, TikTok, Software subscriptions, published content that generates advertisement revenue, etc.
- Affiliate Marketing – Many Internet Marketers believe affiliate marketing is dead. It’s NOT. It’s just transforming into a new way to generate revenue with new digital marketing platforms like Instagram Reel, Facebook Publisher, and Tiktok. A short video on YouTube or Reel has been used to generate affiliate revenue.
What are your goals in 2023?
In conclusion, my goals for 2023 have been to create a lifestyle that allows me to travel on my own terms, build passive residual income, and only work a few hours a week. It is an ambitious goal but one I am confident I can achieve with hard work, dedication, and planning. With the right mindset and dedication, anyone can create their own unique path in life. Therefore, I urge readers to assess their career goals and take the necessary steps to achieve them.