What’s more important – what you have done or what you haven’t done?

Some listeners are cringing about setting big goals for 2022 because of the fear of not reaching them. My encouragement: Measure your goal achievement by looking back at the progress you’ve made rather than the gap from where you are to where you want to be.

Episode #805 November 19, 2021

Hi this is Dan Miller – and yes you’re listening to the 48 Days Radio show – where each week we take 48 minutes to dive into real-life questions about finding your passion, deciding what kind of life you want to live – and then finding or creating work that allows you to show up every day, excited to be able to do something that is meaningful, fulfilling – and profitable.  This is where normal, indecision and ambiguity come to die.  Welcome to the 48 Days Radio Show.

Questions:

I think I’m on the verge of a big mindset breakthrough, but I need help when it comes to setting big goals.

I set big goals but I know in advance that I’m probably not going to reach them all. But what Shannon is pointing out here is a very legitimate concern. Let’s break down a bit how you should set a goal. You should be able to believe that you can meet the goal. Don’t set a goal so high you don’t think there’s anything you can meet it but big enough that it challenges you. Check out Dan’s Sullivan’s new book, The Gap and the Gain. He recommends that you measure your satisfaction based on the gain you have made vs. the gap between your goal and what you still have to achieve.

What recommendations do you have for my upcoming “stay interview?”

This may be a new term for many people. Companies are actually having interviews with the employees who are wanting to stay about how they feel about the company, what motivates them to stay and what doesn’t, what keeps you from doing your best work and what would cause you to leave the company. These are not performance evaluations but more open conversations. The companies are actually trying to figure out how to keep people from leaving. My recommendation is to be candid in that interview and to be sure you are clear yourself on what your goals are and what you want your life to look like three years from now. Share with them what you would like to be able to stay.

Is it advisable to start my own business in today’s economy and rampant inflation?

I think it’s absolutely a great idea to start your own business right now. There’s almost a pent-up desire to spend right now. Search for 50 Best CNC Router Business Ideas and Opportunities for 2022.

I’m considering moving to a new city and purchasing an electrical contracting business. How do I know if the price is fair?

I am a big believer in the potential of buying a business. There are three ways to buy a business:

1. Earnings Multiple – look at how much money the company is bringing in
2. Comparable Sales – look at other similar businesses and what they’ve sold for in the last few years
3. Asset Valuation – look at the value of the physical assets included in the sale

You’ll want to see the last three years’ tax returns (not just the owner’s profit and loss statements). This will show you what the business is making. If the tax returns show they netted $30,000 then there’s no way it’s worth the asking price. Typically a business sells for about .6 times its annual revenue. Look at things like:

• How much repeat business is there?
• What are the contracts they have?
• Who are the competitors?
• Are there any employees? Will they stay on?

I’m retiring from the Army in 2 yrs. I want to become a life coach/influencer with a focus on spirituality. How can I start while still in the military?

This is a great time to be a coach. People are looking for coaching to give meaning and purpose to their lives. I would encourage you to:

• Read the book The Prosperous Coach by Steve Chandler and Rich Litvin
• Read Million Dollar Coaching by Alan Weiss
• Explore Spiritual Direction Training (that’s different than life coaching and career coaching)
• Check out our basic coaching starter course, Coaching With Excellence
• As an Eagles Member, you have access to a lot of content specifically for coaching and you can ask questions or experienced coaches, including our Dean of Coaching Jevonnah Ellison

Quotation:

[click_to_tweet tweet=”‘You can’t stop a bird from landing on your head. But you can keep it from building a nest.’ Martin Luther King Jr. @48daysteam” quote=”‘You can’t stop a bird from landing on your head. But you can keep it from building a nest.’ Martin Luther King Jr. “]

Resources:

Understanding who you are and what opportunities are out there is the first step toward creating the future you’re excited about! Get my 7-page workbook Who Are You and Why Are You Here at 48days.com/why

You can still grab the 48 Days Goal-Setting Workbook at 48days.com/goals Join Dan and Joanne in a special couples retreat, Lovin, Learnin and Earnin, January 13-14th, 2022. Find out more and apply at 48days.com/lovin

Coaching with Excellence Course – 48dayseagles.com/cwe

Summary:

• Measure your goal achievement by looking back at the progress you’ve made rather than the gap from where you are to where you want to be.
• Welcome a “Stay Interview” to express what you like and don’t like about your current position.
• Now is a great time to buy or start your own business.
• If you want to coach, choose a specific area and become an expert in that area.

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