Why setting goals will make or break your wedding business

If you’ve spent any time whatsoever in the field of therapy, counselling or business then you’ll have heard the word “goals” thrown around way too much already. As much as you might not like the idea of them having wedding business goals is absolutely paramount to your success. In fact, if I was to be a real idiot I’d say that you wouldn’t know if you’d succeeded or not without having a goal in the first place. In this blog I’ll be telling you about why goals are so important, the different types of goals that you should have set in your wedding business and finally how to actually go about setting your goals. Let’s dive in.

Importance

I fully understand the disdain that some people have towards setting goals, I really do. To me “setting goals” is a phrase which ties in with sickening phrases such as: – Touch base – Keep me in the loop – Bandwidth (in reference to space in your brain) – Game-changer – Put a pin in it I’m gonna stop there before I feel sick. The problem is unlike some other phrases which are just crappy words setting goals is an incredibly useful and vital business practice.

Why goals are so important

1. Focus

If you know what you’re working towards it becomes so much easier to work on it. Setting a goal creates a real ability to be able to focus on what needs to be done.

By clearly defining a goal of, for example, gaining 1,000 new Instagram followers you devote a suitable amount of time into making sure that happens.

2. A marker

By having clear goals set out you can very easily understand how well your business is performing.
If you’ve got a goal of having 50 weddings during 2020 you can look at your diary and see how close you are to achieving that and then alter things if necessary.

3. Success

By setting goals you’ll then know whether you’ve achieved them or not.

Achieving goals is a definite reason for celebration.
It’s really important to congratulate yourself and your business when you do have “wins”.

Success breeds success – more on that later!

4. Motivation

If you’re running a business by yourself there will be times (and I’m sure you’ve had them already) where you simply can’t be bothered or want to finish early etc.

Let’s say you had to walk through a tunnel and you had no idea how long it was.
Would you prefer it if there were markers telling you how far through you were through it or to be completely blind about the whole thing?

The fact that you can compare your progress to a final outcome can provide motivation to just get it done, the same can’t be said if there isn’t a predetermined finish line.

Types of goals

This isn’t mentioned nearly as often as it should be.

People just tend to get told to set goals for your business but there are a whole bunch of different types that I feel you should at least have an overview of.

I’ll be listing different types of goals and you’ll find that there is a crossover between them and by that I mean a goal won’t be limited to just one of the below categories.

Long-Term Goals

You might think of this as your business’ objective or reason for being.

This could be anything from an amount of money that you want to be turning over to being award-winning or THE business that people think of in your area for whatever it is you do.

Yearly Goals

A pretty simple concept to grasp this one.
These are the goals you set for the year.

Seasonal Goals

The wedding industry is typically very seasonal so you may set a goal for a percentage of your earnings to be earned from winter weddings or perhaps you want to hit a certain number of weddings during the summer season.

Monthly Goals

A small amount of explanation for this, this could just be the goals you have for the start of each month that you want to be achieved by the end of that month.

However, this could be goals that you set at the start of the year whereby you say you want “12 weddings booked for June, 14 for July and 16 for August.” for example.

Weekly Goals

I use weekly goals to make sure that my focus is set solid for the upcoming week. I’ll decide at the start of the week what I’d like to accomplish.

Daily Goals

I think these are arguably the most important of the lot in terms of actually getting stuff done.
By waking up to a list of things to do or by making that list as soon as you wake up you know exactly what you expect of yourself.
This works incredibly effectively for me, if you don’t do this already then I suggest you try it.

Outcome Goals

This is your classic form of a goal, what you want to achieve as has already been mentioned above, this might be just having your business pay the bills, or it may a number of weddings or anything that you want to achieve within your business.

Financial Goals

Normally this is an amount that you’re trying to earn each year, at Wedding Business Coaches we advise that you set yourself both a soft and a hard target for financial goals.

The soft target is the amount you have to hit to have your bills paid and things you want to do paid for.

Your hard target is the one that seems utterly unachievable, it feels like dream money. Money that if you hit you’d be able to take yourself on that once in a lifetime trip or buy yourself the ideal car etc.
Oh and with the caveat that if you DID hit that target then you actually would do those things.

With the work that you’re doing you always aim for the hard target know that the soft target is there as a backup.

Texan multi-millionaire and sales trainer (also Scientologist 😐 ) Grant Cardone says that you should aim for 10X what you actually want to earn, I’m not sure I agree but there’s something to think about.

Ego Goals

This may or may not be something that you’ve come across before – I’m not sure where I got it from so there’s a chance I might have coined the expression, probably not.

Running a wedding business is pretty hard work and that’s why I think ego goals are important.

An ego goal is something which is going to inflate your sense of self and really give you cause to celebrate.

This could be anything from becoming a recommended supplier at a venue you love to being featured in Brides Magazine, or working with a particular supplier you respect or it might be being able to charge a 4-figure fee for a wedding.

We are individuals with our own turn-ons, faults and foibles.

Your ego goals are personal to you and no-one could ever say that they are wrong because they only have to be right for you.

Process Goals

Something new again, potentially.

This is much less focussed on the destination of results as most goals are but this is about how you get there – things which need to be done in order to achieve the results that you desire.

If you’re someone who always lets rude people get on top of them then a goal might be to worry less about what customers say.

Or perhaps if you’re not recommended by any venues a goal could be “phone 20 venues this week to talk about becoming a recommended supplier.”

Perhaps you’re not great at closing sales, a goal could be “book a free coaching call with Wedding Business Coaches to find out where I’m going wrong.”

There have to be processes towards achieving results or the results just tend to be more of a pipe dream.

How to set your wedding business goals

It’s pretty simple in theory to set goals but a little more thought needs to go into them.

Put simply you will be combining the Time-based type of goals with the Financial/Ego/Outcome/Process Goals to create an overall goal.

That isn’t really enough though.

You may or may not have heard of SMART goals, any goal you set should be SMART.

 Specific

Measurable

Attainable 

Relevant

Timebound

 Specific – You need to actually hone in on exactly what the goal is that you want to achieve.
A bad example would be to say “I want to have a successful business” because that could mean different things to different people.
Whereas saying I want my business to earn me £30,000 after tax this year is very specific. 

Measurable – You need to know when you’ve actually achieved your goal so it needs to have some element of it that means you know when you’ve done this.
A bad example would be “I want to get better at selling.” if that was your goal you’d pretty much have to go on gut instinct to know whether you’d hit it or not.

A better goal would be “I want to increase my conversion rate of enquiries to bookings to 40%”

Attainable – It’s pretty vital that the goal you’re setting is actually something it is possible to hit.
Poorly constructed goals that you can’t hit do not do you any favours whatsoever and if anything will make you feel worse about the running of your business.

If your goal for your first year in business was 100 weddings then that’s probably going to be unattainable due to the nature of business as well as people booking wedding services a long way in advance.

100 weddings is a very attainable goal, just not in your first year of business.

Relevant – You should have a long-term goal for your business and what you want to achieve in it, any goals you set should be helping your business move closer to this goal by being completed.

If you’re a wedding DJ and your long-term business goal is to perform at 100 weddings a year and you set yourself a goal to have 1,000 connections on LinkedIn then I’d probably question whether that was relevant or not.

LinkedIn is great for building business connections and getting corporate work but is it really the best place for finding wedding opportunities.

Maybe if you changed the goal to be “I want 1,000 LinkedIn connections who are all based in the wedding industry within 50 miles of me” then it would be a relevant goal.”
Notice the difference.

Timebound/Time-based

Any goal you set should be limited by a time-frame or it could go on forever which reduces the motivation for doing so drastically.
“I want 1000 Instagram followers” isn’t time-bound.

“I want 1000 engaged people following me on Instagram by the end of March” is both time-bound and relevant.

That is actually a very good example of an overall SMART goal.

“I want 1000 people getting married following me on Instagram by the end of March”.

Specific says exactly what the goal is.

Measurable as you’ll know exactly when this is completed.

Attainable, yes is 1,000 is a large number but it isn’t beyond the realms of possibility.

Relevant, it both references the fact that it is engaged followers not just random people and is something which would be a helpful step towards being a successful wedding business.

Timebound, it says the goal is to be achieved by the end of March.

Setting and Achieving Goals

If you haven’t been able to set yourself goals get or whether you want help achieving the goals that you have set then a call with us here at Wedding Business Coaches is a great first step. 

Click below to book a free 15 minute consultation call with Jack and I at a time to suit you.

Our Podcast

Every Thursday live on our Facebook group you can join us at 6pm to listen to The Wedding Business Coaches Podcast.

Jack and Chris will be live talking all things Wedding Business, answering your questions and having some fun along the way.

Each LIVE episode is then available to listen on all of your favourite podcast streaming platforms.

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