I was listening to a podcast recently and the topic of monthly goals came up. (I think it was Startups for the Rest of Us, but I’m not sure.) The idea is taking your big annual goal and dividing it into smaller steps that can be measured in one calendar month.
I love this concept and am not sure what took me so long to use it. I already do an end-of-month review on business numbers (Number of leads, P&L, cash flow) so adding a goals review works with that plan.
Some goals are linear and easy to split up into 12 equal parts:
Read 12 Books in 2015. This can be set to reading 1 book per month.
Complete Spanish Level 2. Last year my family started learning Spanish and completed 7 weeks of in-class study. I finished Level 1 again – something I had done in my youth. I want to keep up my progress this year. I needed a way to quantify this so I made it 240 hours of language learning in 2015. On a monthly basis that’s 20 hours per month, or an hour every week day. I’ll focus on using Duolingo and Verbling.
Pass $200,000 in gross revenue. I’d like to grow my revenue 30% this year to pass the $200K mark. This breaks down to making $16,666.66 per month, but that’s too many sixes so I rounded up to $20,000 per month.
Launch a new business. This month I launched Shop Plugins. The launch went well and we’re selling plugins. I now need to focus on building the brand, marketing, and supporting customers. The way I’m going to quantify this is by shipping 24 new plugins this year, or 2 new plugins per month.
Non Linear Goals
Some goals are non-linear and can’t be divided up. These goals will need to be planned and targeted differently.
Spend 3 months outside USA. It would be too expensive to accomplish this goal in 2 week intervals, so grouping it into one trip is the way to go.
Launch 3 new projects. In my “Ship or STFU” post I eluded to three new projects that I need to launch in the month of February lest they never be spoken of again.
To Review, or Not To Review?
Dan Norris, is doing monthly review blog posts, but I haven’t decided whether I’ll be that transparent or not. I’m not sure my personal goals are interesting enough to share outside of an annual review blog post.
How are you doing with your 2015 goals? Are you trying monthly goals?