Understanding Short-Term, Medium-Term, And Long-Term Goals
While working in an organization to achieve accountability, you set goals. You need to set specific, measurable, attainable, relevant and time-bound goals. However, did you know there are several types of goals you can set based on time-boundedness?
You have short-term, medium-term, and long-term goals based on time-boundedness. Are you confused as to what these are? Don’t worry; this blog will tell you these goals and give you tips on setting and achieving them. Further, you’ll also know what to do if you fail to achieve goals.
So, read on to know everything about the type of goals and how to set and achieve them.
Short-Term, Medium-Term, and Long-Term Goals
The meaning of short-term, medium-term, and long-term goals is quite simple. Essentially, short-term goals are those that you’ll want to achieve in the near future. They are goals that you achieve within 30 days.
Medium-term goals take a little longer to achieve. These may be your quarterly goals. Generally, Medium-term goals are achieved within 90 days.
In contrast, long-term goals are those that need to be achieved in the further future. These are goals that require planning and time. They usually take 12 months or more to achieve. They often form part of the big picture goals.
Short-term, medium-term, and long-term goals are time-bound and categorized explicitly according to how long each might take. Each of these types of goals requires significant planning and a to-do list.
How To Set and Achieve These Goals
When you set short-term, medium-term, and long-term goals, there are some questions that you must ask yourself. You must ask yourself where you are now, where do you want to be, what’s stopping you, how you want to get there, and why is it an absolute must.
While setting these goals, you must think about the outcome you want and plan backwards to think of your steps. Thinking of what you want to achieve and planning the steps necessary along with adding the dates will make it easier to set and achieve these goals.
It’s crucial to set dates for these goals, too, so that you create milestones and set the importance of the goals. It helps you set your priorities and lets you know when you can celebrate your achievements.
What To Do If You Fail To Achieve These Goals?
Often, you will fail to achieve your goals. It is inevitable when you’re trying to achieve something important to you.
When you set too easy goals that you can achieve too easily, you are probably setting yourself up for failure in your business. This is because these goals are an ego massage and don’t help your business in the long term. Your business cannot grow if you set only short-term goals. You need long-term goals too.
It’s important to note that even if you fail in achieving your goals, you mustn’t be too hard on yourself. Merely resolve to be determined, resilient, optimistic, and persistent. The quote-“ try till you succeed” is the mantra to achieving your goals.
You might feel the following when you fail to achieve your goals:
- You’ll probably feel demotivated and upset
- You’ll start trying to set easy and achievable goals
- You’ll stave off setting big goals to avoid failure
- You might overanalyze what went wrong
- You start losing faith in yourself and feel like a failure
However, while these genuine human emotions, it’s best not to mull over the failures. Instead, you must try to see if you can change how you plan or act on your goals. This will help make your goals more meaningful and challenging.
You merely need to develop a positive mindset and strive towards achieving your goals perseveringly. You should understand and learn from your mistakes and be on your way to achieving your goals.
Setting long-term goals that include mammoth targets might be scary, but it shows character, resolve and the determination to succeed in the organization. So, set it and work actively and positively towards achieving the goal. If you fail, retrace your steps, and change the way you tackle your goal.
Setting short-term, medium-term, and long-term goals are easy so long as you follow the SMART model. While it may be easy to achieve short-term goals, it’s necessary to set long-term goals as well to ensure your organization’s success.
Suppose you have difficulty in setting, achieving and figuring out how to avoid failure. You might want to consult an accountability coach from TickThoseBoxes. They will help you navigate through these goals and mentor you accordingly.
How Can I Improve My Accountability?
Are you struggling to get things done?
Did you know that nine out of every ten businesses fail? I am not trying to discourage you, but that’s the truth. It’s not the lack of having big dreams or passion, it’s the lack of commitment and introspection required to translate that passion into solid actions.
Most of the people who start businesses get caught in the trap of making excuses, wasting time, and leaving things for tomorrow. That is what we call a lack of accountability, and there are reasons why you keep finding reasons for not getting stuff done. Here is why.
False Sense of Security
Unless you’re desperate or have been backed into a corner due to your financial situation, there is a sense of security that lingers around. You always feel like you’ve tomorrow to do the rest, and it’s not like if you don’t get it done today, you won’t have food on your table.
This sense of ‘I’ve a lot of time’ and ‘I can do it whenever I want’ never lets you lift your business off the ground. It keeps you interested enough, but you never get to define a course of action to achieve those dreams. There’s always a tomorrow, right?
Distractions All Around
While we’re living in a world of ultimate convenience, it also has its downsides. You always have something to do – from posting useless posts on social media to watching videos on YouTube. Sometimes, it’s not the digital world but your social life that gets in the way. Your startup office turns into a party spot.
If you’re not going out of the way to keep yourself away from distractions, chances are you won’t be able to get anything done. There will always be something you would want to do more, and that false sense of security of having ‘tomorrow’ will lure you in.
This is a challenge that takes many shapes. Sometimes, you believe you’re not good enough for what you’ve started. You begin to think that you won’t ever be able to achieve your dreams, which starts to affect your ability to work.
On the other hand, some people are too perfectionist to delegate. They don’t get that sense of ultimate satisfaction until they’ve done everything by themselves. Consequently, they get caught up in too much work, which again means delays, declining quality of work or worse, a total burnout.
Poor Resource & Time Management
You’d be surprised to learn how bad people can be at managing their funds and time. Sometimes they haven’t sold a single unit, but they’re almost out of their working capital because they spent it all on international patents. Similarly, many times they keep pursuing objectives that add little to no value to their businesses.
Managing your resources as well as time is a skill not everyone has. One of the reasons why many people fail to get things done, at least the ones that matter.
No One Cares
Often times, people who have started a business don’t have anyone around who cares about what they achieve. Deadlines fly past by them, and the sky doesn’t fall. There’s no one to answer to. Who cares? That is a frame of mind that holds progress back and gets in the way of getting things done.
How to Counter These Issues?
For starters, you need to change your perspective. When you’re in business, time is money. You may think that you can get something done tomorrow, but the time you’ve wasted is the time you’ve given your competitor to win an edge over you. And in the period of a few months, that edge soon turns into your competition being miles ahead of you.
You are literally losing money when you’re getting nothing done. If you’re serious about your business and want to be a high performance entrepreneur, you need to change that. Not tomorrow. Not the next hour. Right now.
If you’re struggling with all these issues and your business isn’t doing well, you need an accountability partner. That’s yours truly, Darren Finkelstein. Here’s what I can help you with:
Selling More & Earning More – Accountability will help you create opportunities, and opportunities are where you make money.
Improving Efficiency – It will also help you get more things done in less time, enhancing the overall productivity of your business.
Creating Accountability Culture – You will start to lead by example when it comes to being accountable and delivering on your promise.
Learning to multi-task – Accountability will save you enough time and resources to handle multiple tasks on a daily basis.
There is a multitude of reasons that can hold you back from delivering your hundred percent. Some of it is your own fault, some of it is external factors. That’s why you need a professional with years of experience to come in and conjure up a plan for you. Someone you will be answerable to – not as a punishment – but to create a sense of accountability that comes from within. It’s for your own good!