How to set goals for your small business: With Steven Bartlett

In this business.connected Lunch and Learn, Steven Bartlett, entrepreneur, Dragons' Den investor and founder of The Social Chain, gives his insights into how you can strategically set goals for your business.

Key takeaways from this session

Goal-setting and strategy

• Setting goals is vital to your business's success.

• There are three tiers of goals: macro goals, medium goals and specific goals that all feed into the macro goal of reaching and helping as many people as possible.

• Setting tight deadlines and giving autonomy to small teams can drive innovation and success in business.

• Success is completing the experiment, not the outcome, which motivates people to innovate and take risks.

• When setting goals for your business, you should reverse-engineer from the macro goal, creating a web of medium goals that you need to accomplish.

• Build a platform that allows people to feel and think better in every corner of the world. A goal that you can never complete but always improve upon.

• These "utopia goals" should be un-completable and focused on creating a sustainable organisation, leading to a shift in mindset and behaviour.

The entrepreneurial mindset and growth mindset

• Steven Bartlett's journey from running a business to founding several companies and investing in start-ups shows the power of seizing opportunities and taking risks.

• The number one resource you have in your entire life is your time, so it's important to prioritise and be mindful of how you spend it as an entrepreneur.

• Setting goals centred on becoming better, not being the best, is crucial for long-term success in business.

• Putting your ego aside and seeking out people who will tear you apart and don't want you to win can lead to valuable insights and growth.

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