Building Financial Goals for You and Your Business
Financial goals are important to keep us motivated. Goal setting helps us keep our eye on the prize and planning out your goals is the roadmap to success.
I often say, “a goal without a plan is just a wish.” And it’s so true. Businesses need goals to keep them focused and profitable.
Financial dreams are often avoided because it takes a strong money mindset to commit to those goals. Positive money mindset is mandatory and as a business owner, it is imperative that you have a positive money mindset to give yourself permission to achieve those goals.
Often, we believe we are limited to the social and economic class that we were born into, but that is not true. You can create change for yourself.
It’s with the work I have done with women business owners where I see a true lack of women who are confidently stepping in their role as wealth builder. I often see mind-limiting beliefs in this area and women are hesitant to claim their wealth. We need to change that.
Women deserve to be wealthy, and here is how we change the narrative.
You need to believe you are worthy of riches.
Why financial goals are important
When you have financial goals, they help you set up your financial future. Knowing what you want out of life and having the courage to go after it help you advance yourself financially. If you don’t know what you want, you’ll never get it. Defining those goals and dreams is the first step to achieving them.
It can take courage to chase your dreams, especially when you have big goals. When you are feeling fearful or overwhelmed, remember it is possible to get there, and envision what life will look like when you achieve that goal. What a reward!
This is why mindset is so critical in going after what you want. It’s not limited to money – it’s all opportunities.
For example, I had a goal of writing a book and get a traditional book deal. Getting a traditional book deal was extremely important to me. Many people told me I couldn’t do it – my audience was too small, it takes years to get a book deal, so many before you have tried for years and were unsuccessful. Yet, I knew in my gut that this was my goal, and I would achieve it.
So, I got to work learning how to write a great book and how to get a book deal. I was 100% committed to this dream and against all odds, I achieved it within two years. How rewarding is that! I believe what got me to the book deal was a belief in myself and refusal to take no for an answer.
Why you should dream big
I encourage big, lofty, audacious financial goals! Why? Because as business owners we can achieve those with the right offer, proper financial planning, and money management savviness.
Often my clients are dreaming small because they believe that is the box that they fit in. To me that feels sad, because I know there is an abundance of wealth out there to claim, and I love to see my clients claim it.
Money does not buy happiness, but having money makes life a lot easier. It makes opportunities more accessible, and it relieves financial stress. Stress takes a physical toll on your body so to reduce that stress is a gift.
How to set financial goals
Like any other goal, you need to use the S.M.A.R.T. method of goal setting.
S – specific
M – measurable
A – attainable
R – realistic
T – timely
Short term vs long term financial goals
Knowing if your goals are short, medium, or long term will help you understand timelines and stay motivated.
Short term financial goals
Short term goals would be something that you are striving for in the now, so if you are getting out of debt, saving for a vacation, building an emergency fund. These goals typically take a year or less to attain.
It’s good to have short term goals to keep you motivated. They are generally quick, and you can achieve them quickly. Having that reward of reaching your goal will help you
Medium term financial goals
Medium term financial goals take a little longer to achieve, typically around one to five years. These types of goals are bigger and require a lot more discipline and dedication. These types of goals could be saving a down payment for a house, buying a car, meeting a large investment goal.
Long term financial goals
Popular long term financial goals are paying off mortgages and retirement planning. These goals can take 10+ years to achieve and require motivation and discipline.
Types of financial goals
Get out of debt
Pay off your mortgage
Buy a vacation home
Sending your children to school debt free
Starting charities
Investments
Financial freedom
Early retirement
Leave generational wealth
Have $1 million dollars in the bank
These are just a few ideas for building financial goals. The possibilities end at your creativity and desire. It is important as you set these goals to not feel guilty about wanting to achieve them. Women especially have a really hard time with accumulating wealth due to the conditioning we have often received throughout life. But it’s time to embrace those goals and achieve them guilt free!
We need to normalize wealthy women.
The bottom line is your goals need to be whatever motivates you. Many people are motivated by money and the lifestyle that money has to offer. Money won’t make you happy, but it brings many opportunities. And for many, it feels good to be surrounded by luxury and financial security.
Are you ready to take your business to the next level? Grab your free copy of the 5-Step Roadmap to a Profitable Biz today!
