Smart Entrepreneurs Don't Make New Year's Resolutions -- They Do This Instead

Jan 1 2014, 2:22pm CST | by

Smart Entrepreneurs Don't Make New Year's Resolutions -- They Do This Instead
Photo Credit: Forbes Business

Apply the Pareto Principle to New Year’s resolutions and it’s not a pretty sight.

Yes — I am willing to bet at least 80% of resolutions made as part of our yearly ritual do not come to fruition. Could be more like 90%.

And I am a perfect example of this. Last year at this exact moment I wrote down one of my ‘resolutions’ (call it what you want; your goal; your ‘to-do’ for the year, whatever).

It was simply ‘write a book’. Guess what? Here I sit 365 days later with zero book written. And yes — like so many other well-meaning entrepreneurs, I got off to a great start. Wrote 25% of it by March. But somehow, time got away from me and here I sit staring at my Google calendar flipped to a new year wondering what happened.

So what can we do?

Look — if our mission is to create wildly successful businesses which are both sustainable and fulfill our desire for significance, I say we set our goals differently this year.

So I looked into the matter and came up with two powerful ideas. Fuse them together into one powerful 3-step formula and we can crush the failure rate of our New Year’s resolutions starting today:

Step 1 — Choose 3 Powerful Words As Focal Points

As part of this journey, I tapped into the wisdom of my friend Chris Brogan. He is founder and CEO of Human Business Works, and a prolific author on the topics of social media, customer engagement and behavioral psychology as it relates to business.

Sitting in my inbox was an email from Brogan wherein he proclaimed we only really need to break our goals down to 3 powerful one-word statements. It’s like the Pareto Principle in reverse. Only focus on THE most important things.

Brogan explained it like this; “Create three guiding words and use these as representations of three major focuses for the coming year. The concept is simple enough: think of three words that sum up what you want to change or work towards in the coming year. Instead of a goal like “lose weight” or a better goal like “lose 30 pounds in the next year,” you might choose a word like “green” to represent an overall commitment to having more plant-based foods in your life, and to restore your body to a more natural state. See the difference? As an example, in 2006, I chose Ask. Do. Share. It was easy, and yet, the effort of maintaining a focus on what I wanted from those three words gave me tons of success.”

So with Brogan’s advice, I chose the 3 words of: Write, Recruit and Give. Why did I chose these 3 words? Because as Founder and CEO of Mighty Wise Academy, a virtual academy for entrepreneurship, my key activities to move the needle for the business are as follows:

~ Creation of content (for trusted authority and teaching core principles of entrepreneurship)

~ Recruitment of paying members, distinguished mentors, team members and corporate sponsors (for scholarships) for Mighty Wise Academy

~ Nurturing high-level relationships and finding ways to empower less-fortunate aspiring entrepreneurs who just need a boost in the right direction

Your key words of course will be different than mine, because your aspirations, business model goals and key activities to reach them will be different.

Step 2 — Build Systems Around Those Words

James Clear of Entrepreneur.com wrote an eye-opening article entitled Forget setting goals. Focus on this instead. In a nutshell, Clear is saying the problem isn’t us setting goals, it’s the failure to put the necessary systems in place that will deliver those goals.

In other words, if I want to ‘write’ a book this year, ‘recruit’ more members and mentors for Mighty Wise Academy and ‘give’ more of myself to empower struggling entrepreneurs; my path to get there is setting up the systems whereby I habitually write, recruit and give every day.

It’s simply not enough just to choose the words.

Accordingly, here is one example of how I put this into play for my own business and goals:

To steal a quote from Dorothy Parker; “I hate writing, I love having written.” Yes — it can be a chore. Putting pen to paper. It’s the ugly elephant in the room at times. So how do I build a system to ‘write’? Simple. I make sure to have the tools I need (read: a laptop I can take anywhere I go) and combine it with a daily appointment from 1pm to 3pm, Monday through Friday, to sit down and write. Period.

Does this mean I can’t write at other times? Of course not. Sitting here in my pajamas right now in the early morning working on this piece.

But the point is between 1pm and 3pm, Monday through Friday, you will find me writing. Even if I don’t feel like it.

Thereby focusing on my one word to ‘write’, and setting a daily appointment to do nothing else during those afternoon hours, I will surely have written a plethora of content, including my ever elusive book.

Step 3 — The House Better Be Burning Down

So here I am. My 3 words are chosen and I’ve successfully built systems and appointments to follow. But there’s one more thing, which is perhaps the most critical –

I cannot allow the invasion of other people and their own agendas to break my appointments and systems.

It’s of absolute zero profit for you and I to carefully select our key words, and to spend time and energy building the right systems to support our chosen 3; to then let someone (or something) steamroll it to oblivereens.

We must keep our boundaries. Can I peek at my email during weekdays between 1pm and 3pm? No, I cannot. What about if I just take a quick peek at Twitter during those times to see what’s up? No way.

In other words, the house better be burning down for me to allow interruption. And that is simply discipline. It’s a proven fact those with focused discipline make far greater progress than those without.

Let’s flip Pareto’s Principle on its head for this New Year. Jump ahead 365 days from now with me and let’s look back with 80% of our goals actually met. Only 3 steps and you’re there…

NOTE: I’m Eric. Life-long entrepreneur and Founder of Mighty Wise Academy. If you’re an entrepreneur — you and I should connect right here.

(You can also find me hanging out on Google+ , LinkedIn or Twitter @MightyWiseMedia.)

Source: Forbes Business

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Thomas S. Wilson Recognized by Strathmore's Who's Who Worldwide Publication
Memphis, TN, April 16, 2014 --(PR.com)-- Thomas S. Wilson of Memphis, Tennessee has been included in the Strathmore’s Who’s Who Worldwide Edition for his outstanding contributions and achievements in the...
 
 
Barbara A. Laughton Recognized by Strathmore's Who's Who Worldwide Publication
Barbara A. Laughton Recognized by Strathmore's Who's Who Worldwide Publication
Rochester, NY, April 16, 2014 --(PR.com)-- Barbara A. Laughton of Rochester, New York has been included in the Strathmore’s Who’s Who Worldwide Edition for her outstanding contributions and achievements in...
 
 
Shelley L. Johnson, Strathmore’s Who’s Who Best of 2014
Shelley L. Johnson, Strathmore’s Who’s Who Best of 2014
Shelley L. Johnson has been announced as Strathmore’s Who’s Who Best of 2014 for her outstanding achievements and contributions to Healthcare and I.T. Solutions.
 
 
Eugene Z. Stakhiv Has Recently Been Recognized by America’s Registry of Outstanding Professionals
Eugene Z. Stakhiv of Fairfax Station, Virginia, has been recognized by America’s Registry of Outstanding Professionals. He has been a member of America’s Registry since January 2014 and has been selected to be a Featured Member for his contributions to the field of Water Resources Management.
 
 
 

Latest from the Network

Jamie Foxx: Being 'fly' is costly
Jamie Foxx says being "fly" is too expensive. 'The Amazing Spider-Man 2' star has had a varied career since rising to fame over twenty years ago, and although he's a multi-millionaire he confesses living up to the...
Read more on Celebrity Balla
 
Goodbye And Good Riddance, Alibaba?
A survey by the Asian Corporate Governance Association, a corporate governance group whose members manage more than $14 trillion of assets, has found little support for changes in Hong Kong listing rules that would...
Read more on Business Balla
 
What Free Agents? Melo's Not Going Anywhere, Nor Are LeBron, Wade, Dirk...
This isn’t what the wretched of the NBA expected after slashing payrolls and trading front-line players for No. 1 picks. If the 2014 draft class wasn’t all it was supposed to be, there may barely be a 2014 free agent...
Read more on Business Balla
 
The 9 Best Jobs In Africa Don't Exist Yet
Sixty percent of the best jobs in the next 10 years haven’t been invented yet. At least that’s what futurologist Thomas Frey is fond of saying. This is great news because lots of good, new jobs will be needed in order...
Read more on Business Balla
 
The College Degrees And Skills Employers Most Want
The hiring picture is improving for the college class of 2014. According to a new survey by the National Association of Colleges and Employers (NACE), employers are planning to hire 8.6% more graduates for their U.S....
Read more on Business Balla
 
Do You Have The 'Stickability' To Be A Successful Entrepreneur?
It’s no secret that successful entrepreneurs have something special that sets them apart from just the dabblers and hobbyists, but exactly what is it that’s different? Every business venture runs into obstacles,...
Read more on Business Balla
 
The Masters Post Mortem And Prognosis Without Tiger Woods
null Before the Masters, I suggested the leaders of golf carefully examine this 2014 event without Tiger Woods. It would be a forecast of the future of golf without him, which is, of course, inevitable. The examination...
Read more on Business Balla
 
'X-Men: Days Of Future Past' Gets One Last Trailer
I suppose I should have seen this coming. I spent the last three months praising the relative restraint of the X-Men: Days of Future Past marketing campaign. Up until three weeks ago, we had only seen a single trailer,...
Read more on Business Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla