Employee Hiring Plan: Auto Repair Business in 2022

Employee Hiring Plan

This week I’m writing about using an Employee Hiring Plan in an Auto Repair business. An Employee Hiring Plan helps you to win the battle for the top talent by consistently generating more than enough leads, screening out non-performers, and using a skills-based test-drive process and psychometrics to choose team members that deliver results.

Employee Hiring Plan In An Auto Repair Business

 

36 Business Coaching Modules

I have been writing about some of my hero clients and how we are able to achieve significant results from our work together. We have 36 Business Coaching Modules, which are areas within your business that when we improve your performance in these areas, your business will run better.

Mark, Owner of Auto Repair Shop

Mark is this week’s small business hero. He owns an auto repair business that he started about 5 years ago. When I met Mark his business had grown, but the business was “running him.” He was working very long hours and was constantly interrupted by customers and employees. This was affecting his health and personal relationships with his family; he was spending very little time with them.

Tactical Marketing, Time Management, and Key Performance Indicators

We decided to implement several of our Coaching Modules to address his situation. These included a Strategic Plan, Team Deployment Meetings, Tactical Marketing Plan, but most importantly an Employee Acquisition Plan, Time Management Plan, and a Key Performance Indicator System.

Employee Hiring Plan: Auto Repair Shop

An Employee Hiring Plan is all about marketing. You are simply marketing to prospective employees. Of course, you need something attractive and compelling to market to job candidates. This is one of the things that a Strategic Plan does for you.

A Strategic Plan for Your Team

Even if your business is not the most attractive workplace now, a compelling Vision, Values, and Mission can help you to attract great employees. You are taking your team on an exciting journey to a great job and workplace. The team deployment meeting helps all your employees to know where you are going, how they are to act, and what they are to do every day.

Time Management and Reducing Time Screening Employees

Back to an employee hiring plan, you want to bring in a large number of candidates, but have a system that screens them without taking your time and you end up with the very best prospective employees. That’s what we helped Mark do. We also conducted a time management study and delegated less important duties to his team members. Finally, we installed a door between his office and the customer lobby to reduce interruptions.

Results for Mark and his Auto Repair Shop

As I write this blog post Mark is on a 3-week vacation in Europe. He has opened a second location, purchased a lot for a 3rd location, built a spectacular house on the lake, is working 4 hours a day, and is in some of the best physical condition of his life! Here’s what Mark said:

testimonial5With Alan’s help I have less stress and I’m able to conduct meetings without any interruptions. Alan helped me to evaluate the costs/benefits of hiring new employees and gave me the assurance that I could justify the additional expense. My sales and profits have grown even with the new hires.  Alan has coached me on how to motivate my employees to meet my business goals. With Alan’s help by next summer I plan to have my business running without my day-to-day involvement.

Conclusion

Congratulations Mark on your amazing accomplishments using among other things an Employee Hiring Plan in your auto repair business! You are one of my business heroes and an inspiration to other business owners. You can view another case study using a Team Building System in a landscaping company here.

 

small business coach

Using a Tactical Marketing Plan in a Law Firm in 2022

Tactical Marketing plan in a law firm

Using a Tactical Marketing Plan in a Law Firm

This week I’m writing about using a Tactical Marketing Plan in a Law Firm. A Tactical Marketing Plan is an aggressive, measurable plan to increase your leads, improve your sales conversion rates, and increase your annual revenue per customer so that your profits increase exponentially.

I have been writing about some of my hero clients and how we are able to achieve significant results from our work together. We have 36 Coaching Modules, which are areas within your business that when we improve your performance in these areas, your business will run better.

David’s Law Practice

David is this week’s small business hero. He owns a Law Firm that has been in business for over 30 years. I met David in one of our marketing focus groups. He has been successful in establishing a niche legal practice. His firm helps individuals negotiate tax liabilities with the IRS. David was interested in improving his practice in the area of marketing. His law firm had provided a consistent income to David over the decades. However, I saw an opportunity to grow his cash flow considerably.

Law Practice Cash Flow Improvement

We decided to implement several of our Coaching Modules to address his situation. These included a Strategic Plan, Tactical Marketing Plan, Key Performance Indicators, Pricing Plan, Employee Acquisition Plan, and an Organizational Plan.

A Tactical Marketing Plan for A Law Firm

A Tactical Marketing Plan entails developing 5 to 6 revenue streams. We make sure each revenue stream is providing an acceptable return on investment. David began to provide weekly Key Performance Indicators which included his marketing results. David compiled marketing results that we reviewed to give us the information we needed to eliminate marketing that was not providing a strong return on investment.

Strategic Partners and a Strategic Plan for a Law Firm

We decided to pursue some strategic partners. We developed his Strategic Plan and implemented pricing changes. We developed job descriptions for employees and hired some new team members.

Results for David’s Law Firm

As a result of these strategies, his results were immediate and dramatic. Here’s what David said:

David Greene Attorney“I was initially hesitant to take on a business coach, but now I’m glad I did. Since Alan and I began working together my sales have increased significantly and I’m glad to use his services. My profits have increased an average of 50%.” David, Founder, Law Firm

 

Congratulations David for your remarkable success in using a Tactical Marketing Plan to improve your company! You are one of my business heroes and an inspiration to other business owners. You can view another case study using a Team Building System in a landscaping company here.

 

small business coach

9 ways you can Speed Up your WordPress website

wordpress

Time is money, and with the growing digitalization, people have grown more and more restless. If a WordPress website takes longer than 3 Seconds to load that means it is slow. And a slow website means users will potentially leave the website before it even loads.

Even Google admits that while ranking websites, it takes into consideration the website loading time, SEO configurations and present backlinks. Most of these can be checked by opting for relevant plugins like backlink checker, or other SEO tools.

With the growing competition, a website owner has very little time to show users it’s content and also convince users to stay on the website. So, it becomes imperative for website owners to make sure that their website loads quickly. 

Nine Ways to Boost the Speed of Your WordPress Website

word-press

Here are some ways one can speed up WordPress: 

  • Install a WordPress Caching Plugin

Caching can make your WordPress site anywhere from 2x to 5x faster. WordPress pages are “dynamic.” This means they’re built on the fly every time someone visits a post or page on the website. To build the pages, WordPress has to run a process to find the required information, put it all together, and then display it to the user.

This process involves a lot of steps, and it can really slow down a website when multiple people are visiting it at once.

That’s why a caching plugin will help. By enabling caching on the website, the site data can be stored locally in temporary storage spaces, called caches. 

Instead of going through the whole page generation process every time, a caching plugin makes a copy of the page after the first load, and then serves that cached version to every subsequent user.

This means that browsers can load the site files more easily and don’t have to re-download everything from the server every time the site is needed.

Caching thus makes the page loading speeds much faster especially for recurrent users. 

  • Optimize Images for Speed

Images bring important visual aid to a content and help boost engagement. An illustration catches the eye quickly and helps build interest. So, adding images to  content is an important step. 

However, beginners forget to optimize these images before uploading them on the website, which results in slower speed. As, uploading the image directly from the camera roll means the size of the image is way larger than it needs to be. 

In their original formats, these photos can have huge file sizes and will be a major contributor to the size increment of a given webpage. The larger the picture files on the website, the longer a site takes to load.

Hence, it’s recommended that hosts use photo editing software to optimize images for the web. Plugins can be easily used to resize, compress and retrieve these files.

  • Clean-up your database

The more a WordPress site is used, the more it’s database becomes clogged-up. These old and unnecessary files slow down it’s performance. Cleaning up the  database therefore speeds everything up by removing the items that aren’t needed.

Deleting unwanted data from the database will keep its size to a minimum and also helps in reducing the size of its backups. 

It is also necessary to delete spam comments, fake users, old drafts of the content and maybe even unwanted plugins as well as themes. All of this will reduce the size of the databases and web files, and thus speed up WordPress

  • Choose faster plugins for the website

word-press

Poorly coded WordPress plugins often load too much bloat whether the site needs it or not. This increases the page load speed and slows down the website.

It’s not the quantity of plugins that generally causes a speed problem. In general, it’s the quality and usefulness of plugins that affect page speed.

Poorly designed plugins, plugins with outdated software, or surplus/duplicate plugins can all contribute to slow website loading.

It’s a good idea to run a Google PageSpeed test both before and after installing any plugin. This helps show the impact of the plugin on the website’s speed and allows the host to make an informed decision about whether the plugin’s functionality is worth slowing the site down.

  • Use a lightweight WordPress theme or framework

Sometimes less is more. 

Sure, WordPress themes come with a lot of dynamic elements, sliders, widgets, social icons and many more shiny elements. But, too many elements result in higher page sizes which immensely increases the website load time.

The best option is to use lightweight themes. And make sure to think about the website visibility on the smaller screen. As, mobile friendly website configuration helps in choosing the best themes.

“My coach has been working with me to set and meet aggressive goals for my company. He’s even gotten my employees on board with my vision, and I’ve had problems with them in the past. After several “false starts,” I’m finally taking my business to its potential, and I would like to see my clients do the same. He helped me identify $20,000 in unmade sales (services people wanted but we didn’t offer to them and they didn’t know we could provide) and another $25,000 in missed revenues due to under pricing certain services. We also found a way to change our process for preparing returns that cut the turnaround time by 30%.” Dan, Owner, CPA Firm
  • Minify CSS, HTML & JS files

Cascading Style Sheets (CSS), HTML and JavaScript (JS) files are used to add comments to the website code, for example to clarify formatting or style. 

Simply reducing the size of these files and deleting unnecessary code will help improve the site’s Google PageSpeed. 

It enables the site to load more rapidly, whilst retaining the key information needed in order for the site to display correctly. 

  • Don’t upload audio or video files directly to WordPress

Hosting audio and videos costs bandwidth. It increases the backup sizes tremendously, and makes it difficult to restore WordPress from backup in the future. 

Let SoundCloud, YouTube, Spotify and other such platforms to host these when required. They have the bandwidth to handle it. 

WordPress has a built-in video embed feature, so a website owner can simply copy and paste the video’s URL directly into the post and it will be embedded automatically.

  • Keep the WordPress Site Updated

WordPress is an open source project and is therefore updated frequently. Each update helps fix security issues and brings new offers to the table. 

A website owner should always use the latest WordPress version. And ensure fully updated latest versions for all of the page’s features. Make sure to update plugins as and when new software becomes available. 

Updates are always highlighted on the WordPress dashboard and a website owner can simply check regularly and click on any update messages to action them.

Not doing so may make the website slow and unreliable, and make the page vulnerable to security threats.

  • Use a Content Delivery Network

Distance can mean lag in content delivery, which is where a CDN becomes handy. No matter a user’s location, the content on the website should be delivered blazing fast. Sometimes this isn’t always feasible, if the website isn’t on an infrastructure that contains data centers in other parts of the world. 

A CDN keeps a copy of the website in various data centers located in different places. The primary function of a CDN is to serve a visitor from the nearest possible location.

It helps in faster page load time because when configured, the website will use an optimized server that’s closest to the site visitor. The data center will store static content and files, and then deliver them to users based on their location. 

Conclusion on WordPress: 

With the online community today, in a state of  growing impatience it is imperative that website owners speed up WordPress. 

small business coach

 

5 Tips for Coaching Your Employees to Improve Performance

coaching

Coaching encourages and enables a new way of thinking and supports the application of newly acquired knowledge through concrete actions. With its specific approach, this enables much faster achievement of desired goals and results, as well as faster and easier realization of lasting positive changes in behavior. In today’s demanding environment, whether professional or private, expectations are high, and coaching supports us to fulfill them faster and easier. In business teams, coaching employees to improve performance is an opportunity for all to enhance their potential and achieve goals in a desirable manner. With that in mind and a series of research activities behind us, we bring five best pieces of advice all employers will find useful when considering how to improve employee performance.

Five Tips for Coaching Your Employees to Increase Their Performance

 

Make an Efficient Performance Improvement Plan

The challenge is to create an efficient strategy to increase productivity. In this regard, your coaching plan for employees to improve their performance should cover these key aspects:

  • Goal – Companies need to precisely establish the employee’s level of production. As a consequence, they will identify what to expect and are more inclined to face the performance objectives challenge.
  • Action Plan – Successful businesses have a clear-cut set of measures with a precise roadmap. The performance problem will be solved after specifying the actions, means, and include individual ideas of each operator. Annual performance reviews will also do a great job.
  • Checkpoints – Companies should set dates for reviewing an employee’s advancement and recognize where something can increase. A smart move would be to include writing research paper as an extra measure for performance coaching.
  • How to scale – It is impossible to check how successful your approach is without adequate analysis. Therefore, companies must make their remarks when coaching requires so and to receive personal feedback from subordinates. Feedback is particularly important when administering a company remotely and goes beyond the traditional performance management approach. Also, year-end performance appraisals should be proposed by a coach whenever possible.

Motivate Them with an Opportunity to Advance

coaching

When their job is always reduced to the same job or when the job is at one point, it starts to suffocate the employee engagement and work performance. The same job, the same position, without any indication or chance for advancement can demotivate even the most ambitious team members.

But you can turn it around and coach! If you offer them a possibility to advance, your coworkers will be motivated to try harder and be more productive. Here’s a simple tip – instead of hiring someone new, just promote an employee who is already in the company. This will raise the motivation and productivity of all workers in your company.

However, promotion does not always mean a raise and a new position. Promotion can also be in the form of a training, a course, or by boosting resources with a good coach. Motivate an employee by offering him/her a chance to develop skills and enrich knowledge. And as a result, they will be much more enthusiastic about working for you.

Express More Confidence when Coaching

Some workers naturally have higher self-confidence than others, and leaders need to be conscious of this. Regardless of when leaders include employees in the company’s prospect, decision-making methods, and coaching strategy, they nearly invariably boost their trust.

Of course, if the employee does not deliver optimal outcomes, you will have to notify them. Nor does it indicate that a manager should underestimate the role of employee feedback and benefactions. Studies show that nearly 98% of workers achieve more meticulously when they feel assured. This is another area where adequate coaching can step up.

Help Them to Step Out of Their Comfort Zone by Coaching

The goal here is not to exhaust and demotivate anyone. The goal of this technique is to get out of their comfort zone in order to show additional qualities that they did not show due to nervousness, fear.

Here we also have types of workers who “sneak in” after a while and do not have any passion for progress as when they were just hired. People need to be motivated to further learn and grow. Coaches should inspire them to combine work and education, among other methods. Also, you need to always be ready to help and provide an answer to employee’s questions. Organize a meeting or coaching conversations and share any experience they can see valuable.

Additional Methods for Effective Employee Performance

Before concluding the performance coaching advices, we think that improved performance can be also based on the following aspects:

  • Create a culture of feedback: A manager needs to create a perception based on the team’s feedback. Moreover, open-ended discussion inspires all employees to emit their voices and rise in the workplace.
  • Build emotional intelligence: Successful managers have a high degree of self-awareness, which leads to greater emotional aptitude. When you have developed emotional intelligence, you can better understand employees far more.
  • Get to know individual strengths and weaknesses: Everyone has strengths and weaknesses, and the same goes for company managers. Acknowledging depths and frailties empowers leaders to apply the best coaching strategies to their employees.

Conclusion on Coaching

Coaching is a relatively new area in whose importance is recognized by more and more companies. The effects achieved through a good coaching process prove that individuals and managers opt for coaching because the methods and techniques are quickly applicable. The world’s leading companies, such as Microsoft and Ikea, have a developed and organizational coaching culture that drives their success. With that in mind, new businesses are also advised to take part in this process, just like an already running organization that wants to build up.

 

small business coach

5 Reasons Why You Should Hire an Online Marketing Agency

digital-marketing

How you approach your online marketing is one of the most important decisions you will make. You may perform your marketing in-house or hire a marketing firm to do it for you. A web-based digital marketing business with experience in everything from websites to social media and online advertising will be required. The goal of digital marketing is to boost sales through promoting the company, brand, and developing consumer loyalty. This is accomplished by the application of quantitative, targeted, and interactive digital technologies.

A digital marketing arena is made up of a variety of marketing components that are all gathered under one roof. SEO, social networking, pay-per-click advertisements (PPC), website design, content, and data reporting are some of these aspects .A digital marketing firm gives you the option of outsourcing all of your internet marketing tasks to one organization. Digital marketing has the ability to expand your business more quickly than most other marketing methods. You can get your campaigns up and going quickly by hiring a digital marketing agency. You would not have to deal with a steep learning curve or building a team. Within weeks of establishing a plan, you can see your campaigns live.

The five reasons to hire a digital marketing agency are as follows:

 

1. Enhancing your Marketing Strategy

digital-marketing

If you are sure in the value your company offers but are having trouble reaching more individuals who may benefit from it, it is time to reconsider your marketing plan. Working with a marketing firm will provide you with experienced advice so that you may build a solid foundation for anything marketing-related. This might entail producing new marketing materials to give your company a more uniform appearance and feel, or it could entail utilizing new platforms to reach a larger audience. In any case, it depends on the type of business you have, therefore it is better to go to a marketing firm to figure out what your company actually requires.

2.Focus on your Business with Online Marketing

There is a reason why the world’s most well-known businesses outsource their marketing. Apple, Google, have all been known to use marketing companies. However, the most of us entrepreneurs do not manage global demands; instead, we run small to medium-sized enterprises that may be local, national, or even worldwide in scope. The important element to remember is that the world’s top brands keep focused on their company and outsource their marketing to experts that provide results. Because marketing is such a vast field, even companies specialize in areas like SEO, social media, video, paid advertising, and conventional marketing. It is an important to note that not all digital marketing strategies will work for you. Some may have unfavorable consequences, while others may be quite beneficial. A qualified business will make great recommendations regarding which techniques will produce the finest results. They will provide a new perspective to some of the earlier work your team has done. They will evaluate your marketing efforts and come up with fresh ideas based on consumer feedback. When it comes to social media marketing, for example, a digital marketing agency may assist you in determining where your target audience is most active. They will figure out which kind of material appeal to them the most, as well as how they share and consume it. This will make your social media marketing more efficient.

3. Shortens the Expenses

When considering whether or not to engage a digital marketing agency, many companies compare the cost of running an in-house operation versus the cost of hiring one. You will be surprised to learn that using an agency saves you money in the long run. You would not have to pay payroll taxes because agencies work as independent contractors. You also save money on benefits, health care, and wages, which are all ongoing expenditures of employing full-time staff. Some of the tools you will need to conduct the campaigns may need a large one-time fee or recurring subscriptions. You would not have to invest any money on digital marketing tools because most respectable companies already have them.

4. Scalable Service

The scalability of a digital marketing agency makes it your greatest option for online growth. In most cases, you will need to grow your team size if your company’s needs change or you want to try something new. This means that your business will demand additional resources to maintain and fuel its growth. With a marketing agency, this is not the case. There will be no need to increase your present staff because there would be no limitations. As your firm expands, a reputable corporation will typically accommodate your demands. Depending on the size of your organization, they provide a choice of plans and packages to select from. It is an ideal to work with a scalable and adaptable firm, especially if you are targeting a new market.

5. Selection of Agency for your Online Marketing

digital-marketing

Before you go looking for a marketing firm to collaborate with, you might want to put your brakes on. There are a lot of agencies out their like digital marketing agency in Cairo, but not all of them will deliver what they promise. Choose the appropriate business since digital marketing is a lengthy and ongoing process. Avoid firms who guarantee immediate or rapid results. Before making a selection, find out what a company’s primary limits and specializations are. Allow them to tell you about the main industries they cover, as well as some of the tools and strategies they employ. You can request reports on their previous and current projects if necessary to assess their performance. Determine the agency’s web assets’ online performance as well. Their search engine ranking contributes to the strengthening of your relationship with them. Don’t forget to double-check their industry experience. For most small businesses, hiring digital marketing experts at the outset of a campaign is just not an option. This is a lengthy procedure that needs careful consideration. Furthermore, your employees may take a long time to master all internet marketing methods, such as SEO and social media marketing.

 

small business coach

SHORT TERM GOALS WITH 37 SHORT TERM GOALS EXAMPLES

Bonus Material: Learn Elon Musk’s Top 4 Short-Term Goals Before He Started Tesla.

Today I’m going to show you 1) why short-term goals are more important than you thought, 2) four tips for setting short-term goals, 3) techniques to achieve your short-term goals, 4) how to prioritize your short-term goals, and 5) thirty seven examples of short-term goals.
(Grab my write-up about how Elon Musk used four clear short-term goals to take Tesla from $0 to $30 Billion in just 7 years below.)

Then read on for help on how to set clear and effective short-term goals for your business.

Short term goals form an integral part of success in whatever you do, be it business, career, education, health, etc. They focus on goals that can be achieved within a short amount of time, usually less than a year. They are often the broken-down steps and shorter actionable tasks drawn from long-term goals.

Last week we wrote an article about long term goals. Once you think about the future and create long term goals, you want to move into the near present and create short term goals.

That said, developing and implementing short term goals effectively will bridge the time void created by long-term goals and make their achievement incredibly feasible. In this article, we will explore short term goals, what they are, why you should have them, some tips for setting and prioritizing your short term goals, as well as some short term goals examples.

What are short term goals?

As the name implies, a short term goal has to do with a short time, sooner than long-term goals. A short term goal is a statement of something you want to achieve soon. The near future can be today, this week, month, or even year. Short term goals are goals that you want to achieve soon, and the small timeline of accomplishment is the fundamental characteristic of short term goals. When the timeline of execution becomes longer, like multiple years, it becomes a long-term goal.

Goals of this nature also tend to keep your focus on the present, what you can do right now to meet your ultimate long-term goals. Short term goals help you manage your time well, and even though they might seem like small and minute steps, they steadily set you on the path of success and accomplishment of your life, career, business, etc., goals.

The distance between where you currently are and where you intend to be is bridged by short term goals. They are primarily small, short tasks, to-do’s that need to be accomplished within a short amount of time, usually not more than a year. They are made to be short intentionally, as walking steps that add up to long-term achievement.

Short term goals help to achieve bigger long-term goals. They help you set your focus and pay attention to where you’re heading, recognizing the next course of action to take and assess your progress if you’re headed in the right direction.

short term goals examples

Pro-Tip: Grab 30 minutes on my calendar for help setting effective short-term goals for your business. I’ve started every single one of my 12 businesses with a clear set of short-term goals, and everyday I help other business owners set short-term goals and create a plan of action to achieve them, regardless of what stage of growth they’re in.

~ Alan Melton, Small Business Coach Associates

Why are short term goals important?

Short term goals have a unique benefit to an individual and businesses.

  1. They help create effective strategies

For example, suppose you want to increase your company revenue by 30% before the end of the year. With this short term goal, there are several strategies you can implement to achieve this goal, like, invest in marketing, make decrements to price unit costs, implement seasonal promotions and discounts, etc.

Short term goals provide the platform on which to create an effective strategy for its realization. Such broken down steps and strategies are essential if you want to achieve your short term goals as it makes the process of achievement much more effortless.

  1. They help to provide quick feedback

Getting feedback is vital towards achieving your objectives, as they serve as motivation to your set short term goals. Whether positive or negative, feedback is essential, and short term goals provide the chance to get it.

By definition, short term goals require a shorter time of achievement than much broader long-term goals, and that means milestones are much easily assessed and tracked. Short term milestones help you to align your other tasks to the bigger picture. By doing so, you’ll be able to have quicker feedback in a relatively short amount of time, and this positively impacts your progress towards your long-term goals.

For example, suppose you have a short term goal to expand your customer base to 10,000 within four months, you’ll develop a viable road plan showing clear actions you’ll take to achieve your goal. Then after, say, a month, you’ll be able to tell if your plan is working or not and if you need to adopt other strategies to make it work.

Short term goals give you clear feedback within a shorter time to adjust and make improvements where necessary to achieve your set goals.

  1. They help mitigate procrastination

When you’re plagued with the evil that is procrastination, one way to beat it is to use short term goals coupled with some determination. Short term goals are, by definition, executable within a short amount of time, accurate, clear, and specific. These characteristics of short term goals significantly reduce the effort needed to achieve them compared to long-term goals. Reduced effort to achieve them lessens the need to procrastinate constantly.

This goes to increase the chances of you procrastinating. When your goals ate big, they will take up more effort to accomplish them, and that means it’ll take more for you to see their accomplishment and be motivated to accomplish them right away. So, don’t make a goal-achieving path vague; it’ll easily overwhelm you. Instead, break down your goals and reduce the chances of procrastination.

  1. They keep you focused

Achieving a long-term goal can sometimes seem unrealistic or impossible. There is also the risk you can lose focus as you work towards achieving it. You can also easily have many detours, distractions, and you may need to backtrack and refocus on the right path again. However, when you have clearly defined short term goals that are measurable, realistic, and specific, you will automatically be more focused on achieving them.

Those you know today who pull in massive income streams to their businesses didn’t achieve such feats by just focusing on the big picture (long-term goals). They pen down a clear and achievable roadmap for reaching their ultimate long-term goals and keep track of these small achievements. Achieving these short term goals will add up to reach their ultimate goal. No matter how great your long-term goals are, if you don’t know where to start and what baby steps you can set to get you there, you’ll quickly get lost in time.

Having a list of short term goals, complete with the small actions you need to take to reach those goals, helps keep you focused on your effort and attention. You’ll also not be wasting time on activities that do not foster the realization of your goals which will be a waste of time and energy. Without short term goals, it is pretty easy to get distracted and waste months of your life marking time on the same spot with little or no progress. But when you have clear goals, your eyes are kept on the prize, and you’re less likely to lose sight of what matters.

short term goals examples

Tips for setting short term goals

When it comes to setting short term goals, there are many strategies you can use. Here are some quick tips you can use to help you set short term goals for personal or professional advancement:

Use visualization techniques

By visualization, we mean creating mental images of what you desire to achieve and be like, say in 6 months from now. With the short term goal fully visualized, you can then work backward to determine what daily steps you should take and the goals you should set to get to where you want to be. Creating these visual images will also help you fully internalize what you want and what your desires specifically are regarding the future.

short term goals examples

Make Sure Your Goals are SMART

In writing your goals, similar to long term goals, you should ensure they align to the SMART model for better focused and more attainable short term goals:

S – Specific: be specific as you state your goal and define precisely what you want to achieve — be as specific as you possibly can.

M – Measurable: you should ensure you have a straightforward way to measure and keep track of your progress, and you move towards attaining your action items.

A – Achievable: Your goals should be attainable. What you desire should be realistically achievable, and you should carefully assess whether or not you can achieve every aspect of your short term goal.

R – Relevant: Is what you’re shooting for necessary? Is it worth working towards the goal now? How does it align with other goals you may want to achieve?

T – Time-Sensitive: for every short term goal, there should be a deadline for accomplishment, and the key is being achievable within a short amount of time, say five months. This helps you to hold yourself accountable. Whether it be a few weeks or months, if the plan is realistic, you’d surely achieve it.

Consider writing your SMART goals down to keep track of your progress. With the SMART methodology, you’ll have a clear path to realizing those short term goals in the not-so-distant future.

Pro-Tip: Grab 30 minutes on my calendar for help setting effective short-term goals for your business. I’ve started every single one of my 12 businesses with a clear set of short-term goals, and everyday I help other business owners set short-term goals and create a plan of action to achieve them, regardless of what stage of growth they’re in.

~ Alan Melton, Small Business Coach Associates

Be specific

Drawing from the SMART methodology, including specific details, can help you define the results you want to achieve, as well as the necessary steps you need to take. Let’s take an example: suppose your short term goal is to expand your business’s customer base to 2000 in 3 weeks. You can add specific details to your near term goal, such as publishing social media ads about your product twice daily. These small actions serve as blocks that add up to birth success in your short term goals.

Make goals measurable

Let us also highlight one aspect of the SMART methodology – measurability. Measurability is the quality of your short term goals that allow you to measure and keep track of your progress. This will also help you define the results you want to achieve. Let us take the example of expanding the customer base for your business to 2000 in 3 weeks. To make this goal measurable, you can schedule a check-in where you assess the number of online customers of your products every day, as well as the number of in-person purchases made. That way, you can determine whether you’re on track with your goal or you’d need to adjust your deadline. You’ll also assess how effective the strategy you’re implementing is and where you need to focus your energies for maximum results.

Make your goals achievable

If you set unrealistic goals that you cannot attain, your lack of progress will negatively affect your confidence and motivation. Your goals must be achievable and feasibly possible, as they’d keep you motivated to work towards attaining them.

But there’s a catch; just because your goals are attainable doesn’t mean they are straightforward. Your short term goals may be challenging, but once they are possible to attain, even after hard work, then you can encourage yourself to push through the pain to develop that new skill or meet that business expectation, etc., and boost your confidence even further.

Identify challenges

There’s no achievement without challenges that come along. As such, you should carefully identify and factor in any challenges you may encounter as you pursue your goals. As you identify and understand these challenges before time, you can begin to draw up plans and strategies to overcome or avoid them. This will help maintain your progress because if these same challenges arose unexpectedly, they could throw you off track and even set in discouragement.

Technique to Achieve Your Short term Goal

Having developed your goals, there is the matter of actually achieving them. Here are some tips you can apply to ensure your goals don’t end up as written-down facts but are attained.

Write down your goals.

It is important to pen down your. Documenting them will serve as a reminder and allow you to track your progress. Many people make the mistake of keeping their goals in their brains, convincing themselves they won’t forget. The reality is, your goals don’t carry as much weight written down as they do in your mind. So, pen it down and have it as a reference to keep you focused on achieving them.

Focus on one short term goal

While it is ok to have multiple goals, you shouldn’t have many goals you focus on at a particular time. It is essential to focus on one short term goal or a group of similar short term goals at a time. After all, by definition, short term goals require a short amount of time to accomplish, so you can progressively move from one goal to another only upon completion or when they are similar and can be carried on concomitantly. By doing so, you’d achieve faster than toggling multiple short term goals at once, which can become distracting, and the result is your failure to achieve any.

Develop a List of Milestones

You must identify any important milestones and benchmarks that can serve as indicators when you’re closer to success. Your milestones shouldn’t be so many and should take a relatively short amount of time than the short term goals you’ve set. They should, however, still require some effort to achieve.

Let’s take a short term goal example of incorporating and running social media marketing in 2 months. Here’s a sample list of milestones you can have:

Goal: Incorporating and running social media marketing in 2 months

Milestone #1: Setup suitable social media accounts for the business

Milestone #2: Create two ads daily for the business

Milestone #3: Develop a hashtag for your product

Milestone #4: Create conversation threads about your product on social media, etc.

Create Step-Wise Actions

Once you’ve set your milestones, you then need to break them down again into minimal baby steps you can take towards achieving your short term goals. And the good thing here is, it doesn’t need to be overly complex or a giant leap that’ll last hours daily. Your daily steps are more minor actions. These small steps or tasks can be as small as 10 minutes that sum up your short term goals.

Sticking with the example of incorporating and running social media marketing in 2 months, here are some possible small tasks steps to consider:

Milestone: Setup suitable social media accounts for the business

Daily Step #1: Choose the social media platform(s) to use

Daily Step #2: Research the most suitable type of account(s) to create

Daily Step #3: Create social media account(s)

Daily Step #4: Create a catchy backstory of your business for your social media page, etc.

You can also put the daily tasks into your calendar or to-do list to not miss any tasks.

Share your goals with others

One tip to achieving your short term goals is holding yourself accountable to others. You can share your goals with someone else, like a trusted friend, family member, or colleague. This will promote accountability and push you to be focused on achieving those goals, and you’ll have someone to answer to if you don’t.  Depending on your goals, these individuals may even be able to help you achieve them by providing opportunities, advice, encouragement, or support to keep you moving forward.

Pro-Tip: Grab 30 minutes on my calendar for help setting effective short-term goals for your business. I’ve started every single one of my 12 businesses with a clear set of short-term goals, and everyday I help other business owners set short-term goals and create a plan of action to achieve them, regardless of what stage of growth they’re in.

~ Alan Melton, Small Business Coach Associates

short term goals examples

How to prioritize goals

Having multiple short term goals is commonplace, and to avoid unproductive multitasking, it is essential to prioritize your goals, choosing which to do first and which to do next.

Here are a few steps you can apply to prioritize your short term goals.

  1. List your goals

The first step is to list out all your short term goals. This will lay it all out for you to quickly choose which short term goals to start up with and identify any dependencies that may exist amongst goals.

  1. Tick the most important goals

Having listed out all your goals, the next step is to tick the goals you consider the most important to you. While the definition of “important” may vary from person to person, you generally want to select the most beneficial goals to your life at this point.

  1. Assess the timelines

Having selected the most important goals for your life at this time, the next step is to determine when you would like to achieve your goals. You may, for example, have a short term goal of learning about marketing trends in two weeks for your business. Determining the timeline to each goal will help you identify the goals you should start working on right away and the ones you can push forward to some later time. And as a pro tip, be sure to set realistic timelines for each short term goal so that you don’t set yourself on an impossible task.

  1. Choose which short term goals to focus on right away

Having selected the short term goals that are important to you and assigned realistic timelines to each, you can now use this information to prioritize your goals. For example, goals with a high degree of importance and short achievable timelines can have a greater priority.  And as a pro tip, try not to start working toward another goal on your list until you have completed the initial goal with the greater priority, except there is a dependency relationship. The completion of an earlier task requires the commencement or completion of a later task.

  1. Make changes as needed

Having prioritized your goals, it is vital to keep in mind that your priorities can change with time. So, don’t get rigid. Be flexible enough to make any necessary changes to your prioritized goals as needed. For example, you may have had a short term priority goal to improve business productivity within two months. But then, after assessing the reviews from customers and you discovered lapses in your customer service, you may then set a new priority towards improving your customer service within a month or so. Improving your business productivity would now matter less as you’d need to focus on your customer service to ensure you don’t lose your existing customers.

Short term Goals Examples

Business Short term Goals Examples

  •         Begin an “Employee of the Month” award program.
  •         Create a profile on a new social media channel.
  •         Create an employee incentive program
  •         Develop a new product
  •         Gain several new customers
  •         Hire three new marketing employees
  •         Host giveaway programs
  •         Implement monthly giveaways for customers on social media.
  •         Improve business productivity
  •         Improve your customer service
  •         Incorporate SMART goals
  •         Incorporate social media marketing
  •         Increase business revenue
  •         Increase product prices by 3%
  •         Increase social media posting to three times a week.
  •         Increase traffic on your company’s blog.
  •         Learn about market trends
  •         Reduce business overheads
  •         Select a charity to begin sponsoring.
  •         Setup television advertisements

Career Short term Goals Examples

  •         Attend networking events
  •         Develop confidence
  •         Focus on the next step
  •         Get a professional certification
  •         Get Early to Work
  •         Get feedback on your work
  •         Improve your communication skills
  •         Organize your workstation
  •         Remove Procrastination

Financial Short term Goals

  •         Create multiple income streams
  •         Eliminate Your Credit Card Debt
  •         Reduce your monthly expenses
  •         Track your monthly budget

Study Short term Goals

  •         Build your ability to take notes in lectures
  •         Know your professor
  •         Spend less time on TV
  •         Spend your free time in the library
  •         Submit your assignments a week before the deadline

Summary

So there you have it. Here’s the article on long-term goals.

Do you have any ideas that we overlooked? If so, comment below

Are You Ready To Set Your Short-Term Goals?

Have you lost site of what to do next in your business? Every business owner goes through it. Sometimes it’s helpful to take cues from the world’s best business builders and see that clear, simplified goals in alignment with your strategy and values can be the best place to start.

If you want to see how one of today’s most famous entrepreneurs used short-term goals to build a $30 billion in just seven years, click the button below:

Want Personal Help Setting Short-Term Goals For Your Business?

Every business owner hits a point of burn out or overwhelm where they lose site of how to get where they want to go.

But buckling down and working harder only gets you so far, because there are only 24 hours in a day.

I remember the moment – 8 years into my first business – when I was at my limit and didn’t know where to go next with my business. Then my partner and I discovered the way out – someone who could help us take a step back, analyze our business, and set and prioritize realistic goals.

Finding someone who could help us with goal-setting, planning, overall strategy and regular accountability allowed us to give ourselves raises in under a year.

The right coach can help you set goals, add more profit to your bottom line, free up time on your calendar, and systematize your business so your team performs the right way every time. 

SCHEDULE 30 MINUTES ON MY CALENDAR NOW

~ Alan Melton, Small Business Coach Associates

Innovative Recruitment Methods Your Company Needs to try Today

recruitment methods

Innovative Recruiting Techniques Your Company Must Try

Using recruitment methods different from the usual tradition and norm to bring in fresh hands has its advantages as a recruiting manager. Most employees nowadays go in for job aptitude tests having ideas about what they may be up against. If you own that company, there are chances that you may not get the best hands. To be sure that you have recruited the brightest, you have to give everyone equal opportunities during the process of getting in. So being innovative with your recruitment methods will ensure that the prospective candidates are meeting with that method for the first time. That would get you the best if this recruitment method is unbiased. You should try some of these innovative recruitment methods below.

Try your advertisements on social media

Using programmatic advertising may not be considered innovative but it is an idea you should consider for your online recruiting. When you visit niche sites where your prospective candidates hang out, you stand a great chance of getting the best hands. Imagine big-name companies posting their job advertisements on say Spotify. This is away from the popular social media platforms like Facebook, LinkedIn, and Twitter. At the same time, Strike IT in the US placed 111 hires by sourcing their candidates on Reddit. Goldman Sachs is also known for using this type of method. Mainstream social networks can help you build a strong employer brand and so reach out to a broad audience.

Video interviewing

When you have got top-class prospects living abroad, using video interviewing technology can be a great option. It is quite self-explanatory but it doesn’t make it less effective. It will save you a lot of time and resources and you would still be presented with a larger candidate pool than using conventional recruitment methods. There is a way you can improve video interviewing to bring in more innovation. You could do pre-employment skills testing and assessment to extract some important data like verbal responses, gesticulations, and eye movements about your prospective candidate using video technology. This data set can help you predict a candidate’s likelihood of success in their future jobs.

recruitment methods

 Patronize the freelance jobs platforms

This is one innovative recruitment method that is fast becoming popular these days. It is possible that you need some particular job done as quickly as possible. Maybe one of your employees who is skilled in an aspect hasn’t done a particular job the way you want it. You have a deadline to meet and there are other jobs for your staff. You can visit some freelance platforms like freelancer.com, Upwork or, even better, check freelance websites that have specialized experts in certain fields, such as Kolabtree, a freelance medical writer website. These platforms will help you get the right candidate. The advantage of this is that you can get several qualified candidates and choose one who is free to attend your job and conclude it as soon as possible. This will save you a lot of time and money since you wouldn’t need to go through the whole recruitment method or have any onboarding activity before your work gets done. Working with a freelancer also allows you to see how good they are and when next you are looking for someone with such skills for a full-time role, you will just hire the candidate straight away.

Apply gamification methods

These days, several companies have started using this innovative recruitment method to get the best hands for their important roles. Gamifying a recruitment process helps the employee see past the resumes of prospective candidates and focus on their skills and intelligence quotients. You can use software from companies like Knack to achieve your recruitment process through gamification. For example, Taylor Wessing, a law firm, uses Cosmic Cadet, a five-level game to assess candidates’ skills. Unilever also uses some intelligent games to screen recent graduates faster and in a fair manner.

Including incentives for employees in your advertisements

This may seem off from the other innovative recruitment methods of recruiting top-class candidates but it works like magic and helps you have an edge over your competitors in recruiting the best hands. When professional candidates are exploring their options, they will be glad to know that one out of the four companies they are considering has some incentives for their employees that are too good to reject. For example, as a company, you can talk about how you would help your employees’ endeavors succeed by sending them abroad to sharpen their skills. Any prospective candidate who sees this will immediately be interested and it can help you get the best hands. This is because global mobility is influencing the recruitment method for many companies these days. It is not possible that your country has all the best solutions you need for your company so sending your employees on regular pieces of training abroad is necessary so you can acquire more skills from the professionals in that area. Prospective candidates are always on the lookout for this and many other incentives for employees.

Using internet technology in recruiting sourcing professionals

Recruiters have long been using the resources of Internet technologies to find specialists, such as job sites, social networks. Today, this recruitment method has become especially relevant due to the massive transition of people online. Check out five innovative ways specifically for sourcing/procurement professionals to recruit talent that companies need to take note of in 2021:

  • Posts and stories on Instagram. Today, it is a powerful tool to draw attention to your company. This resource is suitable for you if you want to acquaint candidates with the corporate culture, share current events and activities, tell them about the features and benefits of working in a company, giving candidates a chance to see the company’s life from the inside.
  • Entertainment applications. In the Snapchat app, you can find geofilters and apply them to your photo. JPMorgan Bank has created its geofilters for athletes in London and New York to discover young talents. They also plan to use these geofilters on demand for school and university activities. JPMorgan wants to show young people that they are a modern company and that their future jobs will be just as varied and exciting.
  • Online competitions. Organizing your online technical competitions will allow you to evaluate and attract candidates who are not currently actively looking for work. You can also get a solution to some of the company’s current problems (this is how Google, Microsoft, Facebook work).
  • Show-Your-Work Sites. Take advantage of websites like Dribble (finding creative people) and Pinterest (photo hosting), where users post their work, and interested parties can rate and praise their success.
  • Creation of online professional communities at the level of your company. This tool will help you build relationships with members based on learning and discussing professional topics in communities (for example, using massive online chats – WhatsApp). Once you have established a professional relationship, you will have the opportunity to tap potential hiring candidates.

recruitment methods

An alternative method, using PEO Services:

A Professional Employers Organization (PEO) is a service provider that allows companies to outsource the management of services typically provided by a business, including global payroll, human resources, employee benefits, risk management, training, and employee compensation. PEO assumes all responsibilities in these categories, and this allows the company to focus on the operational and profitable side of its business.

Conclusion

If you are a recruitment manager, you want to be known for the type of employees you bring in. To achieve that, you need to be at the top of your game when recruiting. Bringing innovation to the table has proven beneficial to most companies and if these recruitment methods didn’t yield results, we wouldn’t be talking about them. If you are preparing to recruit soon, you should try out some of these tips and see how well things work for you. Check out this article on hiring employees for your business.

 

small business coach

SIMPLE PLAN: Employee Retirement For Small Businesses

Simple Plan

What is a SIMPLE Plan?

A SIMPLE plan is a retirement plan that companies can offer to employees, given they have no more than 100 employees. SIMPLE means Savings Incentive Match Plan for Employees of small employers. In insurance, insurance companies often serve as trustees who manage SIMPLE plans on behalf of the employer.

Who Can Start a SIMPLE Plan?

SIMPLE planning can be achieved by employers of not more than 100 employees who earned $5,000 or more in the preceding calendar year. But despite meeting this requirement, if an employer is already sponsoring another retirement plan, they cannot engage in SIMPLE planning.

SIMPLE plans can be sponsored by various business types and organizations, including S-corporations, C-corporations, sole proprietorships, and partnerships. Related employers (businesses under common control, for instance) are categorized and treated as single employers. Even a tax-exempt employer or governmental entity may start a SIMPLE plan insomuch as they meet the basic requirements.

Pros and Cons of SIMPLE Planning

SIMPLE plans are no doubt necessary, with marked advantages and disadvantages. Here are a few advantages and limitations of SIMPLE plans.

Pros of SIMPLE Plans:

Minimal paperwork to set up

There are instances where you can set up a plan online, depending on the provider, and the paperwork associated with SIMPLE planning is essentially less than what you’d be required to fill out for other types of accounts, like a 401(k) plan.

Low start-up and maintenance costs

There are retirement plans that demand costly fees to open and maintain the accounts. With SIMPLE plans, your business typically is demanded lower upfront and managing costs.

Money put into the plan is tax-deductible

It is possible to deduct contributions on tax returns when using SIMPLE plans.

No IRS filing requirements

Your plan provider handles reporting requirements to the IRS.

Cons of SIMPLE Plans

Employer-matching requirement

SIMPLE planning requires businesses to match employee contributions exactly, up to a certain percentage.

Lower contribution limit

The contribution limits placed on SIMPLE plans are lower than those on other retirement accounts. For example, as of 2020, 401(k) plans have a contribution limit of $19,500 and $6,500 for catch-up contributions.

Withdrawing requirements

With SIMPLE plans, you cannot withdraw any money from the account you reach age 59½. If you take money out before then, a 10% penalty and income taxes on your withdrawal will be levied.

No Roth contributions

With SIMPLE plans, there’s no option to have a Roth version of your SIMPLE IRA. So, you can’t fund your account with post-tax money and successfully evade taxes on the money when you withdraw it.

SIMPLE Plans Contributions

SIMPLE planning makes it possible for small businesses to join millions of other employers who have established retirement plans. They also allow some flexibility in the type of contributions employers provide to employees.

Employees contribute to SIMPLE plans by establishing and consenting to a salary reduction from each paycheck, as much as $6,000 a calendar year. Contributing employees receive a matching contribution that is equal to their salary reduction contribution (i.e., up to 3 percent of their pay).

Alternatively, employers may institute a “non-elective” or fixed contribution of 2 percent of pay for eligible employees. It is also acceptable for employers to reduce the matching contribution amount to a limit of one percent of compensation, but certain restrictions will apply to this choice.

Trustees execute SIMPLE plans, and the contributions towards SIMPLE plans are transferable from one SIMPLE plan to another tax-free SIMPLE plan in a trustee-to-trustee transfer. However, to effect such a transfer to tax-free contributions in another type f retirement plan, there is a 2-year waiting period after the employee first enrolls in the SIMPLE plan. Until this 2-year period elapses, any transfer from a SIMPLE IRA to an IRA other than a SIMPLE IRA will incur tax repercussions.

Employee Elections

When it comes to SIMPLE planning, everything is based on a calendar year, except in a situation where an employer initially sets up a SIMPLE plan effective as late as October 1 of the calendar year. At least once a year, employees must be offered the chance to enter into a SIMPLE plan salary reduction agreement. Election periods must last at least 60-days, and employees must receive notice about an upcoming enrolment opportunity before the stipulated period for the election.

Other election features

Election periods should fall annually before January 1 of each calendar year (i.e., November 2 to December 31). Another suitable date range can be chosen given that there is more flexibility with the election period requirement when a SIMPLE plan is initially established.

There is room for employees to make a new salary reduction agreement during the election period or modify a prior agreement.  A copy of the SIMPLE plan’s “summary description” must be sent to employees when they receive notice about the election period.

There is also room for employees to elect a termination of their salary reduction contribution towards a SIMPLE plan whenever they so choose. However, suppose employees opt to end their contributions at a time other than a designated election period. In that case, employers may preclude them from participating again until the commencement of the following calendar year. Employees may also be allowed to select the financial establishments they would like to receive their SIMPLE plan contributions during their election periods.

Notification Requirements

Employers should give each year’s notice about the enrolment period, and they should ensure to:

  •  Include a copy of the summary description of the terms of the SIMPLE plan. They may achieve this by providing a completed copy of IRS Forms 5304-SIMPLE or 5305-SIMPLE, and this includes the procedures set in place by the financial institutions for withdrawals.
  •   Provide information on the employer’s method in contributing to employees’ SIMPLE plans, for example, whether they would match employee contributions by up to 3% of their pay or by some other authorized method.
  • Specify to employees that they can choose their financial institutions to serve as trustees for their SIMPLE plans. If the employer takes the responsibility of deciding the financial institution to receive contributions for all employees under the SIMPLE plan, then be sure to include this information, stipulating that employees have the right to transfer their contributions to a SIMPLE plan at another financial institution, and this should incur them no cost or penalty whatsoever.

There are two additional facets of notification employers should consider:

  • Mention that employers may provide extended periods of election time to their employees (for instance, extending the election period to 90 days or providing quarterly or semi-annual election periods).
  • Employers should also mention there are substantial penalties for failure to notify employees before an election period.

Trustee Requirements

A critical aspect of SIMPLE planning is choosing a financial institution to maintain employees’ plans. This is, perhaps, one of the most essential decisions employers or employees will make regarding SIMPLE planning. Trustees work closely with employers to receive their contributions, invest those contributions and issue certain required information. Within the confines of SIMPLE planning, some types of institutions can be designated as trustees: banks, savings and loan associations, insurance companies (that issue annuity contracts), insured credit unions, or IRS-approved non-bank trustees.

Trustees must agree to:

  • Accept and deposit contributions.
  • Detail and make available to the employer a summary description each year that includes:
  • the specific name and address of the employer and trustee;
  • a detailed description of eligibility requirements;
  • a the specific benefits provided;
  • a the time and method of making salary elections; the procedure for and effects of withdrawals and rollovers (including the penalties for early withdrawals).

There are three additional trustee requirements:

  •  the trustee must provide a statement of the account balance and activity of the account for the year within 30 days after the close of each calendar year to the individual.
  • The trustee reports SIMPLE plan information to the IRS, the same as with any IRA account.
  •  A trustee that is a “designated financial institution” by agreement with the employer should also agree to transfer, upon request, an individual’s SIMPLE plan balance to another IRA or SIMPLE plan IRA without cost or penalty to the individual.

Simple Plan

How to Start SIMPLE Plans

To start up a SIMPLE plan, here’s a step-by-step approach:

  • Choose a financial institution
  • Develop a written agreement to provide benefits to all eligible employees
  • Give employees specific details about the above agreement
  • Set up an IRA account for each employee

Choose a Financial Institution

SIMPLE planning requires choosing a financial institution to serve as trustee of the SIMPLE plan to hold each employee’s/participant’s retirement plan assets. These set-up accounts will receive the contributions you make to the plan. Another route would be to allow employees to choose the financial institutions that will receive their contributions.

Execute a Written Agreement

You can use forms to set up a SIMPLE plan. You can make use of SIMPLE form templates or prototype documents from a mutual fund, insurance company, bank, or other qualified, as well as an individually designed plan. These documents detail the SIMPLE plan and may not be filed with the IRS.

Annual Notice to Eligible Employees

You must notify each employee before the start of an election period of:

  • The employee’s right to make or change a salary reduction choice under the SIMPLE plan;
  • The employees’ ability to choose any financial institution as a trustee of the employees’ SIMPLE plan;
  •  The choice to make either matching contributions or non-elective contributions;
  • A summary description (usually provided by the financial institution); and
  • A written notice that the employee can freely transfer their balance without cost or penalty if they opt for the employer’s default institution.

Set Up a SIMPLE IRA for Eligible Employees

A SIMPLE plan must be set up by or for each eligible employee, and all contributions to the plan must go into the SIMPLE plan.

Simple Plan

When to Set Up a SIMPLE Plan

SIMPLE planning can occur at any time from January 1 through October 1 of a year, provided you didn’t previously maintain a plan. But this requirement doesn’t apply in the case where you were stepped in as an employer after October 1, taking over from one who had already instated a SIMPLE plan. In this case, you can freely set up another SIMPLE plan as soon as it’s administratively feasible after your business comes into existence. In the case where you had previously maintained a SIMPLE IRA plan, then you can set up a SIMPLE IRA plan only on January 1 of a year. A SIMPLE plan cannot have an effective date before the date you adopt the plan.

Eligibility to Participate in a SIMPLE Plan

An employee (including a self-employed individual) can participate in a SIMPLE plan if they

  •         earned at least $5,000 in compensation during any two years before the current calendar year and
  •         anticipates receiving at least $5,000 during the current calendar year.

When it comes to SIMPLE planning and implementation of requirements, employers can sway towards less restrictive than more restrictive measures. Employers can’t impose conditions for participating in a SIMPLE IRA plan.

However, an employer can exclude the following employees from a SIMPLE IRA plan:

  •         Those employees covered by a union agreement and whose retirement benefits were bargained for in good faith by the employees’ union and the employer
  •         Non-resident alien employees who lack U.S. wages, salaries, or other personal services compensation from the employer.

Simple Plan

Operation and Maintenance of a SIMPLE Plan

Having stipulated the persons eligible to create and participate in a SIMPLE plan and the basic steps involved in creating a SIMPLE plan, it is imperative to outline some critical operational questions to answer SIMPLE planning worries.

What are the contribution rules?

SIMPLE plan trustees are responsible for holding the contributions made for each eligible employee. A SIMPLE IRA is funded by:

  • Annual employee salary reduction contributions (elective deferrals), which is limited to $13,500
  • For employees age 50 or over, a $3,000 “catch-up” contribution is also allowed

Employer contributions

It is up to the employer to choose annually one of the contribution methods listed below and inform employees of the various contribution methods, letting them decide which method they would use for the following year.

  • 2% non-elective contribution: In this case, 2% of each eligible employee’s compensation (salary) is deferred, regardless of whether or how much the employee deferred.
  •  3% matching contribution: This involves matching the employee’s elective deferrals on a dollar-for-dollar basis up to 3% of the employee’s compensation.
  •  The employer may reduce the 3% limit to a lower percentage, but such deductions may not go lower than 1%. The figure may not go lower the 3% limit for more than two calendar years out of the five years ending with the calendar year the reduction is effective. The employer isn’t allowed to make any other contributions to a SIMPLE plan.

When deciding employer contributions, you must follow the definition of compensation as stated in the plan document. Compensation generally refers to the pay an individual receives from you for services rendered that year.

Automatic Enrollment: this feature allows an employer to deduct a fixed percentage or amount from an employee’s wages and contribute that to the SIMPLE plan without the express attention of the employee at each deduction unless the employee chooses to contribute nothing or to contribute a different amount. These automatic enrollment contributions qualify to be classified as elective deferrals.

Annual Election Period: Employees can change their contribution levels each year during the plan’s election period. Such election periods must last at least 60 days, and employees must receive prior notice about an upcoming election opportunity.

When employees want to stop contributions

With SIMPLE planning, employees can opt to terminate their salary reduction contributions to a SIMPLE plan at any time. If they choose to do so, the SIMPLE IRA may preclude them from resuming salary reduction contributions until the next calendar year begins. In such cases, the employers must continue to make those non-elective deductions on behalf of these employees.

Where are contributions deposited?

Once you send the plan contributions to the financial institution you selected, that institution takes on the charge of managing the funds. Employees can move their SIMPLE plan assets from one SIMPLE plan trustee to another. SIMPLE plan contributions can be invested in individual stocks, mutual funds, and other similar types of investments. It is up to the employee to make the investment decisions for their account.

S an employer, you’ll need to give each participating employee an annual statement that clearly shows the amount contributed to the employee’s account for that year.

When must contributions be deposited?

Employee salary reduction contributions: These contributions should be effected within 30 days after the end of the month. The amounts would otherwise have been payable to the employee (and self-employed individuals) in cash.

Employer matching or non-elective contributions: These contributions should be made by the due date (including extensions) for filing your federal income tax return for the year

Who owns SIMPLE IRA contributions?

Contributions to SIMPLE planning accounts are always entirely vested or owned by the employee.

What are the basic withdrawal rules?

Contributions and earnings can be withdrawn at any time. A withdrawal is taxable in the year it is received. If a participant in a SIMPLE plan chooses to withdraw before they attain age 59 ½, a 10% additional tax generally applies. If this withdrawal occurs within the first two years of participation, the tax is raised from 10% to 25%.

When a participant withdraws funds from a SIMPLE plan, the IRA may continue participating in the employer’s plan. The result of all contributions and earnings from SIMPLE plans is that they would be distributed in line with SIMPLE plan distribution rules.

Rollovers

SIMPLE plan contributions and earnings may be rolled over from one trustee to another with tax-free repercussions. A tax-free rollover may also be possible for a swap from a SIMPLE plan to a plan that is not a SIMPLE plan, but this can only be possible after at least two years of participation in the SIMPLE plan.

Participant loans

SIMPLE planning does not permit loans. However, SIMPLE plan accounts allow withdrawals as they are IRA accounts.

How to ensure your SIMPLE plan is operating within the rules?

It is essential to set up cheeks to ensure your SIMPLE plan operates within intended rules and boundaries. You should conduct an annual self-audit concerning your SIMPLE plan.

Other than the first year you set up your plan, SIMPLE plans must be maintained for a whole calendar year. Once SIMPLE plans are operational, you must continue your SIMPLE plan for the entire calendar year and funding all contributions promised in the employee notice.

If you decide your SIMPLE plan no longer suits your business, it is possible to terminate the SIMPLE plan.

How do I terminate my SIMPLE plan?

While SIMPLE planning is great, you may want to terminate an existing SIMPLE Plan. Here’s what to do:

Step 1: Inform your employees within a reasonable time before November 2 that the SIMPLE plan would be discontinued effective the following January 1.

Step 2: Notify your SIMPLE plan’s financial institution and payroll provider that you want to terminate your contributions, and you won’t be making SIMPLE plan contributions for the following calendar year.

Step 3: It is essential you keep records of your actions, but you don’t need to notify the IRS that you have terminated the SIMPLE plan.

So there you have it. To read more about getting help with you finances, check out this article about ways a financial advisor can help your business.

 

small business coach

LONG TERM GOALS |WITH OVER 91 EXAMPLES|

Bonus Material: Learn Jeff Bezos’ Top 5 Long-Term Goals Before He Started Amazon.

Today I’m going to show you 1) what long-term goals are and why you should set them, 2) types of long-term goals 3) tips for setting long-term goals, 4) techniques for achieving your long-term goals, and 5) ninety one examples of long-term goals.
(Grab my write-up about how Jeff Bezos used five clear long-term goals to take Amazon from $10,000 to making him the richest man in the world in a few decades.)

Then read on for help on how to set clear and effective long-term goals for your business.

Long term goals are a great route to help you advance both professionally or personally. Such goals may take some significant time or effort to achieve. If you can understand how to develop long term goals effectively, it would help you monitor your progress and keep you motivated as you press towards achieving them.

In this article, we explore long term goals: what they are, how to write them, how to achieve them, as well as an exhaustive list of some long term goals examples to inspire you as you develop your own long term goals.

What are long term goals?

A long term goal is a statement of something you desire to achieve in the future. Long term goals usually take more time, planning, and steps than short-term goals would take. It is commonplace for short-term goals to take less than one year to accomplish, as opposed to long term goals, which can often be achieved after a year or even more. Since they can often take so long, long term goals usually consist of short-term goals, smaller and achievable steps that add up to the long term goal, which is the desired result.

You can set goals for various purposes, professional and personal. For example, you may be aiming to obtain a bachelor’s degree in business administration, which is an excellent long term goal example.  This long term goal can be broken down into a short-term goal like enrolling in a leadership course. Depending on the type of leadership course in this fictitious example, it can take you a day or even less to achieve, some weeks or maybe months, to complete the course. However, obtaining a bachelor’s degree will require months and even years of study and a combination of several courses to fulfill all the requirements to receive the degree.

Pro-Tip: Grab 30 minutes on my calendar for help setting effective long-term goals for your business. I’ve launched and grown 12 businesses with a clear set of long-term goals, and everyday I help other business owners set long-term goals and create a plan of action to achieve them, regardless of what stage of growth they’re in.

~ Alan Melton, Small Business Coach Associates

Long Term Goals Examples

Why set long term goals?

Long term goals are essential in that they give you a vision for the future and keep you purpose-driven and focused on attaining those set goals in the long run. This also helps you live a life of purpose and direction, as you have something to live for and look forward to.

It is vital to have a direction for your life, family, and career, ensuring you’re headed in a direction that’ll make you and your loved ones fulfilled and happy. Without such direction, life may feel not worth living.

To make your dreams come true and become a reality takes hard work and planning. You can’t just sit around wishing things will just happen! You need to take conscious steps to ensure things happen as you desire them to, and long term goals are a step in that positive direction. A career change or improvement often will require new training, education, or networking with new people. Your long term goals will make sure you take the right short-term actions that’ll land you the results of your long term goals.

To summarize, set great short-term goals, and you’d win battles. Set great long term goals, and you’d win wars.

Types of long term goals

As you set long term goals, you can stratify them into identifiable categories, depending on the domain of the long term goals – personal or professional. The types of long term goals include:

Career goals

Career long term goals speak of the professional achievements you hope to reach. Career goals typically reflect your desire to advance your career or professional standing in some way. They may include a complete transition from one career field to another, a promotion to a more fantastic career vantage point, or starting a new business venture.

Long Term Goals Examples

Financial goals

Financial long term goals represent monetary targets you desire to attain. Such financial targets may help you achieve a broader goal. For example, if you desire to buy a house, you will need to save up a specific amount of money. To do this, you can set strict financial goals, such as adding $10,000 to your savings account yearly.

Personal goals

Personal long term goals highlight achievements you desire to reach in your personal life. As we saw in the previous example of buying a house, these goals may sometimes overlap with financial goals. Personal goals may involve issues about your life like your health, hobbies, or interests.

 Tips for setting long term goals

When it comes to setting long term goals, there are many strategies you can use. Here are some quick tips you can use to help you set long term goals for personal or professional advancement:

Use visualization techniques

By visualization, we mean creating mental images of what you desire your life to be like at some specific time in the future, like 5 or 10 years from now. With the end goal fully visualized, you can then work backward to determine what steps you can and should take and the goals you should set to get to where you want to be. Creating these visual images will also help you fully internalize what you want and what your desires specifically are regarding the future.

Make Sure Your Long term goals are SMART

In writing your long term goals, you should ensure they align to the SMART model for better focused and more attainable long term goals:

S – Specific: be evident as you state your goal and define precisely what you want to achieve — be as specific as you possibly can.

M – Measurable: you should ensure you have a straightforward way to measure and keep track of your progress, and you move towards attaining your long term goals.

A – Achievable: Your long term goals should be attainable. What you desire should be realistically achievable, and you should carefully assess whether or not you can possibly achieve every aspect of your goal.

R – Relevant: Is what you’re shooting for necessary? Is it worth working towards the goal now? How does it align with other goals you may want to achieve?

T – Time-Sensitive: for every long term goal, there should be a deadline for accomplishment, as you would be able to hold yourself accountable. Whether it be a few months or years, if the plan is realistic, you’d surely achieve it.

Consider writing your SMART goals down to keep track of your progress. With the SMART methodology, you’ll have a clear path to realizing those long term goals one day.

Be specific

Drawing from the SMART methodology, including specific details, can help you define the results you want to achieve, as well as the necessary steps you need to take. Let’s take an example: suppose your long term goal is to learn a new language in 12 months. You can add specific details to the long term goal, such as, “I will practice the new language for 1 hour every day”. Such small attainable steps can really break up large chunks of your long term goals into more manageable parts that you can pay attention to.

Make goals measurable

Let us also highlight one aspect of the SMART methodology – measurability. Measurability is the quality of long term goals that allow you to measure and keep track of your progress. This will also help you define the results you want to achieve. As an example, your long term goal may be to lose 20 pounds in 6 months. To make this goal measurable, you can schedule a check-in to measure your weight every week or every month. That way, you can determine whether you’re on track with your goal or you’d need to adjust your deadline. If you desire to take a trip, you can set a long term goal of a particular sum of money every set interval, and once you meet your measurable expectations, you can pursue your long term goal.

Make your long term goals achievable

If you set long term goals you cannot attain, your lack of progress will negatively affect your confidence. Your goals must be achievable and feasibly possible, as they’d keep you motivated to work towards attaining them.

But there’s a catch; just because your goals are attainable doesn’t mean they are straightforward. Your long term goals may be challenging, but once they are possible to attain, even after hard work, then you can encourage yourself to push through the pain to develop that new skill or meet that financial/family expectation, etc., and boost your confidence even further.

Identify challenges

There’s no achievement without challenges that come along. As such, you should carefully identify and factor in any challenges you may encounter as you pursue your long term goals. As you identify and understand these challenges before time, you can begin to draw up plans and strategies to overcome or avoid them. This will help maintain your progress because if these same challenges arose unexpectedly, then they could throw you off track and even set you in discouragement.

Pro-Tip: Grab 30 minutes on my calendar for help setting effective long-term goals for your business. I’ve launched and grown 12 businesses with a clear set of long-term goals, and everyday I help other business owners set long-term goals and create a plan of action to achieve them, regardless of what stage of growth they’re in.

~ Alan Melton, Small Business Coach Associates

Long Term Goals Examples

Techniques to Achieve Your Long term Goal

Having developed your long term goals, there is the matter of actually achieving them. Here are some tips you can apply to ensure your goals don’t end up as written-down facts but are attained.

Write down your goals.

It is important to pen down your long term goals. Documenting them will serve as a reminder and allow you to track your progress. Many people make the mistake of keeping their long term goals in their brains, convincing themselves they won’t forget. The reality is, your long term goals don’t carry as much weight written down as they do in your mind. So, pen it down and have it as a reference to keep you focused on achieving them.

Focus on one long term goal

It is essential to focus on one long term goal at a time. While it is ok to have multiple goals, you should have one goal you focus on at a particular time. By doing so, you’d achieve it faster than toggling multiple long term goals at once, which can become distracting, and the result being your failure to achieve any.

Develop a List of Milestones

You must identify any important milestones and benchmarks that can serve as indicators when you’re closer to success. Your milestones shouldn’t be so many and should take a relatively short amount of time than the long term goals. They should, however, still require some effort to achieve.

Let’s take a long term goal example of writing a book within two years. Here’s a sample list of milestones you can have:

Goal: Writing a Book within two years

Milestone #1: Setup a convenient writing space

Milestone #2: Create a plan of work

Milestone #3: Do some more research on the topic

Milestone #4: Compile the draft of chapter 1, etc.

Create Daily Steps

Once you’ve set your milestones, you then need to break them down into daily baby steps you can take towards achieving your long term goals. Your daily steps are smaller actionable short-term goals. And the good thing here is, it doesn’t need to be overly complex or a giant leap that’ll last hours daily. Your daily steps can be as small as 10 minutes of actions that sum up to your long term goals.

Sticking with the example of writing a book within two years, here are some possible daily steps to consider:

Milestone: Prepare the writing space

Daily Step #1: Choose a location in the house that’ll serve as your writing space

Daily Step #2: Clear out any unnecessary items from the selected space

Daily Step #3: Make a list of items needed for space

Daily Step #4: Research the best table and chair set up, lighting setup, etc.

You can also put the daily tasks into your calendar or to-do list to not miss any of the tasks.

Long Term Goals Examples

Share your goals with others

One tip to achieving your long term goals is holding yourself accountable to others. You can share your goals with someone else, like a trusted friend, family member, or colleague. This will promote accountability and push you to be focused on achieving those goals, and you’ll have someone to answer to if you don’t.  Depending on your goals, these individuals may even be able to help you achieve them by providing opportunities, advice, encouragement, or support to keep you moving forward.

How to prioritize goals

If you’ve followed up until this point, then you know it’s completely fine to set multiple goals, just so long as you stick to one at a time. That is when prioritizing comes into play. Here are a few steps you can apply to prioritize your long term goals.

  1. List your goals

If you have multiple goals, then the first step is to list them out. This will lay it all out for you to quickly choose which long term goals to start up with. And as a pro tip, try not to list beyond 25 goals to ensure you don’t get entangled and confused with too many long term goals to choose from.

  1. Tick the most important goals

Having listed out all your long term goals, the next step is to tick the goals you consider the most important to you. While the definition of “important” may vary from person to person, you generally want to select the most beneficial goals to your life at this point.

  1. Assess the timelines

Having selected the most important goals for your life at this time, the next step is to determine when you would like to achieve your goals. You may, for example, have a long term goal of acquiring a promotion at work within the next five years. Determining the timeline to each long term goal will help you identify the goals you should start working on right away and the ones you can push forward to some later time. And as a pro tip, be sure to set realistic timelines for each long term goal so that you don’t set yourself on an impossible task.

  1. Choose which goals to focus on right away

Having selected the long term goals that are important to you and assigned realistic timelines to each, you can now use this information to prioritize your long term goals. For example, goals with a high degree of importance and short achievable timelines can have a greater priority.  And as a pro tip, try not to start working toward another goal on your list until you have completed the initial goal with the greater priority.

  1. Make changes as needed

Having prioritized your goals, it is vital to keep in mind that your priorities can change with time. So, don’t get rigid. Be flexible enough to make any necessary changes to your prioritized long term goals as needed. For example, you may have had a priority long term goal to acquire a postgraduate degree within three years. But then, after meeting up with a friend who opens up a multi-million-dollar business opportunity, you may then set a new priority towards establishing a business with two years or so. Getting a postgraduate degree would now matter less as you’d need to focus on the business idea.

Long term goals examples

What goals do you want to achieve? Here’s a list of over 100 long term goals examples across six general categories to make things easy for you.

Long term career goals

Here are examples of long term goals for your career that you can adopt:

  •         Become a certified professional
  •         Become a high-level manager like a director
  •         Become a thought leader
  •         Earn an academic certificate to add to your resume
  •         Find a career you love
  •         Get a promotion at work
  •         Get a raise in your salary
  •         Go to college if you haven’t before
  •         Grow your current business, e.g., Gain a new market or introduce a new product.
  •         Increase your sales
  •         Learn a new skill
  •         Mentor a friend to guide their subsequent career decisions
  •         Publish professional articles online to build your resume.
  •         Resume your studies and finish a degree
  •         Start a new business
  •         Win an award at work
  •         Win over a certain number of clients
  •         Develop your soft skills, like self-confidence, communication, work ethic, etc.

Long term family goals

Here are some examples of long term family goals:

  •         Decide the perfect size for your family
  •         Donate old clothes or toys every year
  •         Find a life partner
  •         Finish a book list on family relationships
  •         Enhancer strong relationships with your parents and/or siblings
  •         Foster strong relationships with your extended family, such as grandparents or cousins
  •         Go on annual family road trips
  •         Organize yearly celebrations for your parents, siblings, or children
  •         Plan an annual family Olympics
  •         Plan to visit some locations on your family bucket list
  •         Spend money on experiences instead of things
  •         Start a family
  •         Take professional family portraits every year

Long term life goals

Here are some examples of long term personal goals:

  •         Purchase a primary home by the water body (seaside or lake, etc.)
  •         Be able to purchase a home for vacations
  •         Renovate or update your current home
  •         Become a black belt in Judo!
  •         Build your dream home
  •         Climb a mountain
  •         Complete a triathlon
  •         Create and commit to a fitness routine
  •         Create and finish a reading list
  •         Learn a foreign language
  •         Learn how to play an instrument
  •         Master an art or craft like painting, knitting, woodwork, etc.
  •         Move closer to your family or friends
  •         Move to the city of your dreams
  •         Move to your dream country
  •         Own your own land
  •         Run a full marathon
  •         Run a half-marathon
  •         Take a vacation to your dream destination
  •         Travel to your home country
  •         Work on your public speaking skills
  •         Write a book

Long term financial goals

Here are some examples of long term financial goals:

  •         Become financially independent
  •         Become financially free (no debit or mortgage)
  •         Build a business
  •         Build a retirement nest egg
  •         Build an emergency fund
  •         Earn a certain amount of money through multiple passive income streams
  •         Earn more money from your job
  •         Generate passive income
  •         Increase your credit score
  •         Invest in real estate
  •         Invest in the stock market
  •         Pay for a car in cash
  •         Pay off credit card debt
  •         Pay off student loans
  •         Pay off your mortgage
  •         Purchase a house
  •         Retire early by the age of 50-55
  •         Save enough money to send your children to college.
  •         Save for your children’s weddings
  •         Semi-retire early

Health and fitness goals

Here are some examples of long term health and fitness goals you can consider:

  •         Adopt a healthy lifestyle
  •         Implement practices to reduce the risk of diseases such as diabetes or heart disease
  •         Be able to do a one-rep dead-lift with 100kgs
  •         Fit into your old-size jeans
  •         Follow a healthy diet for life
  •         Get abs or tone your legs
  •         Lose a certain number of pounds
  •         Lose weight from certain body areas like stomach or hips
  •         Lower your BMI
  •         Lower your cholesterol levels
  •         Master yoga
  •         Practice endurance training and strength training
  •         Run a full marathon
  •         Run a half marathon

Long term spiritual goals

Here are some examples of long term spiritual goals you can consider:

  •         Attend church service every Sunday
  •         Be clear about your beliefs
  •         Do a kind deed every day over the next 365 days
  •         Forgive your foes
  •         Go on some mission trips in a year
  •         Go on a personal retreat to reflect and pray
  •         Help someone restore their spirits
  •         Join a Bible study and participate weekly
  •         Mentor a young believer
  •         Observe and recognize the interconnectedness of everything
  •         Practice gratitude
  •         Read about your religion’s history and origin
  •         Read biographies of early church leaders
  •         Read the whole Bible over the next two years
  •         Reflect on your actions
  •         Support a child through a charity

Summary

So there you have it. Do you have any ideas that we overlooked? If so, comment below.

Are You Ready To Set Long-Term Goals For Your Business?

 

Have you lost site of where your business is going? Every business owner goes through it. Sometimes it’s helpful to take cues from the world’s best business builders and see that clear, simplified goals in alignment with your strategy and values can be the best place to start.

If you want to see how one of today’s most famous entrepreneurs used long-term goals to go from $10,000 to the riches man in the world in a few decades, click the button below:

Want Personal Help Setting Long-Term Goals For Your Business?

Every business owner hits a point of burn out or overwhelm where they lose site of how to get where they want to go.

But buckling down and working harder only gets you so far, because there are only 24 hours in a day.

I remember the moment – 8 years into my first business – when I was at my limit and didn’t know where to go next with my business. Then my partner and I discovered the way out – someone who could help us take a step back, analyze our business, and set and prioritize realistic goals.

Finding someone who could help us with goal-setting, planning, overall strategy and regular accountability allowed us to give ourselves raises in under a year.

The right coach can help you set goals, add more profit to your bottom line, free up time on your calendar, and systematize your business so your team performs the right way every time. 

SCHEDULE 30 MINUTES ON MY CALENDAR NOW

~ Alan Melton, Small Business Coach Associates

small business coach

7 Ways For Small Business Owners To Avoid Burnout

avoid burnout

How do small business owners avoid burnout? For many small business owners, their businesses are an all-encompassing and time-consuming activity which requires their full dedication. Yet, burnout and the inability to switch off, particularly from technology, is a very real problem for many entrepreneurs. From depression to coronary heart disease and fatigue, burnout can have serious consequences for you and your business.

Here are seven ways to help you learn how to avoid burnout

  1. Be Organized And Use Time Efficiently

Entrepreneurs tend to be extremely busy. In order to avoid burnout, effective time management is one of the most important skills that you need to develop. In order to stay productive and focused, make sure that you take some time to organize your working day.

Ensure that you have an organized filing system so that you can easily store and retrieve files and data whenever you need it. In particular, administrative and financial tasks can cause some of the most stress. If there are particular tasks that you find especially stressful or tend to avoid doing, make sure that you create a plan in order to get these done in plenty of time.

Similarly, make sure that you use a comprehensive bookkeeping system in order to stay on top of your finances. Not only will this enable you to stay up-to-date with your business, but it can also be used to automate tasks, thereby saving you time. This will also make it easier and less stressful when it comes to completing your tax return.

  1. Prioritize Tasks

It can be easy to become overwhelmed by the amount of things that you have to get done. Instead of trying to do everything at once, make a list and prioritize the tasks. Consider using a digital list-making app, which enables you to set reminders and share your lists.

“There may be tasks that need to be prioritized first due to set deadlines. Alternatively, consider prioritizing tasks based on goals. You can further categorize tasks into those which are ‘important’ or ‘urgent’. Not only will this make things more manageable, but you’ll also be able to dedicate your time and energy to the most pressing tasks first. Most importantly, be realistic about how much you can get done each day,” says Hollie Wymore, a writer at Lia Help and State Of Writing.

  1. Avoid Multitasking

Multitasking is an important and valuable skill. However, there are times when multitasking can actually be counterproductive, leading to divided attention and errors, as well as increased stress and burnout. Instead of trying to do multiple tasks all at once, schedule individual time for each task. In this way, you’ll be able to fully focus on each task, improving your productivity and reducing the potential for mistakes.

  1. Delegate Wherever Possible

avoid burnout

Entrepreneurs are known for trying to do it all themselves. However, it can actually be more efficient to delegate tasks to employees or vendors, freeing you up to do other important tasks. Be aware of tasks which can be suitably delegated to others within your business, as well as any areas in which you require additional support. As a result, you’ll be able to make better use of your time and skills, as well as those of your employees.

Similarly, learn when to turn down work. Assess incoming work against your ideal client, project or business goals. Avoid taking on work which doesn’t meet these lists to prevent unnecessary stress.

  1. Stay Healthy

Very often, burnout can be traced back to other aspects of lifestyle, including poor sleep, diet and exercise. Many entrepreneurs put their businesses, particularly in the early days, ahead of their own sleep and wellbeing. However, staying healthy is essential if your business is to thrive.

“Start by assessing your sleep,” suggests Joseph Gray, a small business blogger at Boomessays and Essayroo. “Getting sufficient sleep every night is extremely important. Try to go to bed and wake up at the same time each day. Similarly, make sure that you’re eating a healthy diet and try to introduce some exercise into your weekly routine. Try to schedule a lunch break every day, where you can sit down and take the time to eat properly or even do a short workout. This will give your body the chance to recharge and feel more energized and better prepared for work.”

  1. Schedule Regular Breaks

Incorporate regular breaks throughout your day, as these will enable you to refresh your creativity and refocus. Similarly, if you’re struggling with a particular task, consider taking a short break or returning to it at a different time of day.

A change of location can also help break up the day and inspire more productivity. Many entrepreneurs have the fortune of being able to work remotely, so consider trying to work in a flexible work space or a coffee shop to aid creativity.

  1. Set Work Hours And Stick To Them

To improve productivity, set work hours and stick to them. At the end of your work day, whatever time that may be, be strict with yourself and avoid answering emails and unplug from your devices. Having a regular schedule can help you to be better organized and make the most of your time. It will also help you to develop a more positive work-life balance, leading to reduced stress and burnout.

Similarly, schedule down time into your day. In the same way you’d schedule a meeting, schedule in some time for exercise, to read, or simply step away from your work. If possible, try to book a holiday too, whether it’s a full week off, a long weekend or even just one day to yourself.

Conclusion

Burnout is a very real problem for many small business owners. Running your own business can be overwhelming and all encompassing, leaving you with little time for yourself or your personal commitments and interests. However, in order to run a successful business, it’s essential that you find a balance between your work and home life. By following the steps above, you’ll not only avoid burnout and reduce stress, but you’ll also become more productive and successful.

Lauren Groff is a successful small business writer at Academic Writing Services and Essay Services, where she regularly writes about ways to improve productivity in the workplace, as well as sharing tips on how to run a successful small business. She is also an experienced editor at OX Essays. When not writing, Lauren enjoys spending time reading and attending business conferences

 

small business coach