View the previous blogs in this series at Part 1 - What is your formula for success? How do you define success? and Part 2 - Planning Cycle.
For some, the positive path is more motivating and the 'carrot' is the better motivator. Carrots are anything which you are drawn towards, like or motivated by. They are positive and inspire you to take action. An example of a carrot may be the reward of a holiday or new piece of equipment when you reach your goal.
For others, the 'stick' is a greater motivator. This is a negative approach, but some people are more motivated to avoid pain or problems. 'Sticks' can be I must achieve this goal because if I don't "I'll suffer ….(add your own words)". An example of a stick might include that if I don't achieve this goal, I will not be able to pay my bills or I won't be able to have a holiday.
Some commentators suggest that most people are more motivated to avoid pain or failure than they are to seek success or pleasure.
A few key points when setting goals
In regard to business goals, focus across a number of areas including:
- attitude and culture
- skills and capacity
- financial and outcomes
In regard to personal goals, there are many frameworks that you can use. Again, it is important that you consider a number of dimensions to your personal goals including physical/health, social/relationships, mental/wisdom, spiritual/faith, family, and financial/wealth.
Goals are ultimately used to refocus your actions throughout the year on your business and personal priorities.
What are your goals? How will you cast them – carrot or stick?
Contact Medici Capital on 03 9853 7933 for advice on how to reach your financial and business goals.
Is your goal to own a Pharmacy? Visit Medici Capital's Ownership Ready Series for more information.
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