April 19, 2024

Setting your 2024 for success: Fractal Labs approach

As we enter 2024, I am excited for all the opportunitues it brings. The world of AI is changing fast, offering us incredible opportunities to create groundbreaking digital products. I truly believe that success, both personally and in business, depends on building strong, adaptable systems.

I approach life and work with a focus on systems thinking. Whether it's a personal project or a new venture, I always start by envisioning the system that will make it happen. And when it comes to planning, it's a crucial step. To really achieve your business goals, they have to align with your personal ambitions. Because ultimately, the success of any project comes down to the person driving it.

Today, I want to talk about setting meaningful goals for your tech projects and creating a system that consistently gets results. Let's dive in.

Step 1: Reflect on the past year

Before we leap forward, it's important to look back and appreciate the progress you've made. It allows you to celebrate your successes and learn from any setbacks, ensuring we're ready to tackle the new year with a clear vision.

  • Acknowledge personal and team achievements going goal by goal, and acknowledge how you performed toward achieving each of them.
  • Complete each goal regardless of how you performed. Remember, by completing your goals you are not giving up on any goals that did not get accomplished. You are simply getting complete with the fact that you did not accomplish that goal this year

Step 2: Define Your Motivation

Every ambitious journey starts with a strong 'why,' and we're no different. Identifying what motivates us sharpens our focus and energizes the team, guiding our strategic decisions and actions.

  • Reflect on what is your motivation, your “why”. Be as specific and clear as you can.

Step 3: Set your business goals

A clear destination is essential for a successful journey. Setting strategic goals ensures that everyone on the team understands our direction, making every effort contribute to our shared objectives.

Before we get into setting the goals for the new year, we look at our company 10-year vision, values and mission. And only then we plan upcoming year.

  • Establish an ambitious Annual Sales Goal

Sales goals are the most important, because they drive business expansion and give resources to other company goals, like for example

  • Set 2 additional measurable and time-bound business goals.
  • Break down the specifics of what you need to achieve this goal.
  • Break down your goals quarterly.

We recommend that you have a total of 3 annual  goals for your business. Remember each goal must have a date by when you will accomplish it and it must be measurable.

Step 4: Align department goal

Ensuring every team is aligned is crucial for seamless progress. Once you have 3 annual goals for your company, you can then derive them for each department.

  • Set specific goals for each department that align with your 3 annual goals.
  • Make sure each departmental goal supports the your annual goals and broader vision.

Step 5: Develop your marketing plan

Create a clear marketing plan to ensure you are on track to meet your sales goal.

Marketing plan is the actions taken to market the business.

  • Specify the volume of leads needed to accomplish the company's sales goal.
  • Outline a detailed marketing strategy. What marketing actions are you going to take to generate leads?

Step 6: Set up monthly reporting

Regular updates and reviews keep us on track and responsive to any changes. Monthly reports provide transparency, allowing us to celebrate progress and address challenges promptly.

  • Create templates for monthly sales and pipeline reports.
  • Consistently monitor your progress toward monthly sales goals.

Step 7: Personal growth assessment

If you want your company to grow, that means that you also have to grow by addressing your personal obstacles.

  • Reflect on mindset shifts needed to align with your goals. What beliefs need to change so that I can be a match to my goals?
  • Identify educational needs or skills to acquire. What do I need to learn so that I can be a match to my goals?
  • Evaluate changes needed in your physical workspace.
  • Consider new habits that support your objectives. What habits or consistent actions will support me in achieving my personal and business goals?

By aligning our personal growth with our business goals, we not only enhance our capacity to achieve these goals but also model the growth mindset we wish to see in our teams.

Hope that was helpful. If you have any questions or need help, please don’t hesitate to reach out.

Wishing you the best year ever.

Austin Wood, CEO & Lead Engineer at Fractal Labs.

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