Tuesday, September 7, 2010

Objectives: How to Perform Daily Activities that Lead to Achieving Your Goals

How to convert your long term goals into short term objectives that guide your daily activity.

How to perform daily activities that will lead to achieving my goals.

WHEN and HOW much of your company’s products and services you can sell is your two-fold objective.

CONVERT your short and long term goals into objectives as to how much in loan volume you have to do each day, week and month.

It is important to BUDGET your other personal assets as well. Complete your budget with not only the income you will derive from reaching your objectives, but also what expenses you will incur and how much time you will need to invest to achieve your objectives.

Make sure your objectives are VIABLE and REALISTIC within the environment in which you work.

RELATE your long term goals to specific daily objectives.

Example 1 - as related to ViSalus Sciences: The ViSalus opportunity provides 8 ways to earn income.  For the purpose of this example we will only look at Direct Sales & Personal Customer Commissions.
"My goal is I want to make $36,000 per year solely from Direct Sales & Personal Customer Commissions with ViSalus Sciences".  This equals $3,000 per month which related to my efforts as a Distributor equals $12,000 in monthly BV [Bonus Volume] times 25% commission split equals $3,000 in commission to me.  "Chunk Down" your long term goals into daily production goals.  If I need $12,000 in Direct Sales BV to equal my monthly commission goal of $3,000 what does that equal in daily sales based on a 20 business day month?  $12,000 divided by 20 business days equals $600 a day in sales.  At an average sales amount of $149.00 I need 4 sales per day to achieve my goal.

Example 2 - as related to a Wholesale Account Executive: “My goal is I want to make $150,000 per year”. This equals $14,500 per month which related to my efforts as an Account Executive equals $25,000,000 in submitted loans times 40% pull through equals $10,000,000 in monthly funded volume paid at an average 14.5 BPS equals $14,500 in commissions to me. “Chunk Down” your long term goals into daily production goals. If I need $25,000,000 in submitted loans to equal my monthly funded goal of $10,000,000 what does that equal in daily submissions based a 20 business day month? At an average loan amount of $250,000 I need 100 loans submitted per month. 100 loans per month divided by 20 business days equals 5 loans per day to achieve my goal.  In other words, I need to find 5 loans per day with an average loan amount of $250,000 each to achieve my annual income goal.

By using this "chunk down" process we can determine what is required on a daily basis to achieve our long term goals.  It is these daily Objectives that will drive us to achieve long term success. The next step in G.N.O.M.E.S. is "M" or Methods that drive our daily objectives . . . the how and what we do on a daily basis.

THE SMARTER you work the more you make for the same effort. The more you plan your day’s activities the less you have to react to time wasting problems and interruptions.

Track each day’s activities in your sales book and pipeline reports.

“It is not the mountain we conquer but ourselves.”
                             ~ Edmund Hillary
Keep SCORE on yourself so you can ease up when you have reached your daily/weekly/monthly objectives or so you can increase your effort to reach your objectives.

Objectives are the daily foundation stones of your long term goals.  Without daily objectives to guide your activities, your long term goals may seem so overwhelming you will rarely achieve them.

By chunking down your goals, and then taking action on them, you create momentum and build your confidence, both of which move you farther and faster towards the achievement of your goals.

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