Richard Cullen Mar 2021

While there are formulas that accurately show the flow of nature, why not a formula for success for businesses? If you type the values in the buoyancy formula in the wrong place or type the values incorrectly, the result will fail. So is this an indication that the buoyancy force does not successfully exist in nature? No! Businesses laws are similar, if you misspell values or omit some variables you will fail. When you solve the correct use of the formula of success, you start to win in life.

If you don’t know where you’re going, and you don’t know where you’ve been then maybe you’re on the Road to Nowhere!!!

Apologies to Talking Heads for misquoting some lines from one of my favourite songs. The point I hope to get across is that many business owners start a business with no idea of the endpoint. Imagine building a business with no plan. Imagine going on a flight and the captain has no flight plan. Imagine yourself (after the Pandemic) deciding to go on holiday with your family but you arrive at the airport with nothing booked, no passports, no idea if you have the right clothes, no idea if you have enough money, no idea what type of holiday you want to have….how much fun is your family having now? How much fighting will there be before, during and after the holiday?

Destination Mastery with Formula for Success

So, let’s talk about Destination Mastery… and use an ActionCOACH formula from founder and author Brad Sugars.

Formula of Success: Dreams x Goals x Learn x Plan x Action = Success 

Many people can have big Dreams but no plan as to how to make those dreams a reality. Many people can be very busy doing lots of “stuff” but not going in any definite direction. Too often business owners fail to deliver on the real potential in themselves and their business because the plan is left to chance and hope. Here are steps you can take right away to increase your likelihood of success:

Score yourself with the formula for success:

Dream:

  • If you rate yourself on the formula for success and score yourself out of 10 for your ability to Dream, do you dream big or have no dream for your life and your business. Score 1 for no dream and 10 for I’m really good at dreaming and have big dreams.

Goal:

  • How would you score yourself out of 10 on your ability to set Goals? Are you able to turn your Dreams into Specific, Measurable, Achievable, Results Focused and Time framed (SMART) Goals? Score 1 for I have no goals and score 10 for I am very clear on my goals and have them written down and shared with my team.

Learn:

  • Let’s turn to Learning, do you read books on building a business, do you do any extra study, do you learn from other people’s mistakes, do you learn from your own mistakes, do you have a self-development plan for you and your team? Do you have a mentor or a personal trainer? Score 1 for I stopped learning in school and score 10 for I am a learning nut.

Plan:

  • When you take your Dreams and Goal’s, and you study hard on how to make those Dreams and Goals a reality are you good at turning them into a Plan? Are you able to take each Goal and break it in to bite size chunks and assign responsibility to each member on your Team? Do you ensure you have the right resources engaged (Time, Money and People) for each step of the plan? Score 1 if you have no Plan at all and leave it to hope and chance. Score 10 if you are amazing at updating your 5 year plan every year and breaking this into 90 day plans every quarter.

Action:

  • Finally, when you have your plan are you and your Team really good at taking Action to achieve the Plan or do you always end up taking one step forward and two steps back? Do you end up getting distracted with the next crisis or putting out fires? Do your team get confused about the Plan and seem to make more work for you? Do you question yourself if you have the right Team or if you are good enough to really lead them? Score 1 if you struggle to be consistent in the Actions you take to deliver your Plans. Score 10 if you have an amazing Team who proactively solve problems and show’s initiative to help keep the Plan moving in the right direction.

When you multiply out your total score what did you score out of a possible 100,000? Is there room for improvement? Great if there is because now it’s time to refocus and make small improvements in each of these areas. Which one will you focus on this week? Write down your dreams? Set some SMART goals? Do some Learning? Work with your Team to create a Plan? Start to Work more ON the business?

One small step could be a giant leap forward for you and your business. If you know you need help or you want to speed up your progress then get an ActionCOACH Business Coach to help you.