My SMART Goals for 2012

A few days ago, I discussed the importance of setting SMART goals. I also defined the acronym SMART as specific, measurable, achievable (or attainable), relevant, and timely. Hopefully all of you have outlined your goals and posted them publicly (I still want to see links!).

It's Friday, and I know you're ready to party hard, so without further ado, here are my goals for this year:

1. Start earning at least $500 per month in passive income by the start of the 4th quarter (October 2011). Right now, I work for all of my money. I'm not paid on an hourly basis, but my income is a direct result of my effort each day. I love my work, and I still plan to work, but I also want to start earning money "in my sleep".
2. Post at least 10 comments per working day on new blogs. This allows for new blog discovery and helps others find my blog.
3. Lose at least 50 pounds by December 31, 2012. Like anyone else, I have weight loss goals. These goals have previously been the form of a resolution, but now that I'm announcing something publicly, I should be better on track to reach it.
4. Build an emergency fund of at least $2000. That may seem like chump change to most of you, but as of right now, I don't have any money saved. That would be a major deal for me.
5. Grow this blog to receive at least 5,000 monthly page views. Again, this may seem like a small goal to most,  but I have nowhere near this right now.
6. Grow this blog to have at least 1,000 subscribers. Do you notice a recurring theme here? I think that big things come in small packages. (smile)
7. Post to this blog at least every Monday, Wednesday, and Friday from now on and for the rest of the year. This is a big one. I can remain dedicated to this blog for a short time, but I always end up falling off the metaphorical wagon. This, of course, is important to achieve the two goals before it.

That's it. Seven goals. Well, it's the lucky number seven. I feel like printing this off and posting it on my desk so that I don't have to remind myself to look back on my blog to see my goals. I think I will (once I buy printer ink). *smile*

So, let's hear it...what are your goals for 2012?

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Your Guide to Remaining Productive Even on Non-Productive Tasks

There are two things that are productive in business: serving clients and attracting clients. Everything else is not productive. Many of these tasks don't fall into the category of "counterproductive", but they are not doing anything to grow your business. These non-productive tasks are things like: bookkeeping, filing, reading emails (unless it's an email needed to service a client), shopping for supplies, etc. While these tasks are often necessary, they aren't productive. They aren't going to make you any more money in the long run. So why do freelancers waste their time on such tasks?

Well, most small businesses doesn't start off productive. As a matter of fact, most business owners spend countless hours doing things that don't grow their business. They can run a one or two man show giving up their time to do things themselves instead of paying others. More often than not, they aren't able to afford to pay anyone else to do these things. New business owners are much more "stingy" (for lack of a better term) with their money, and they should be. After all, according to the Small Business Administration, over 50% of small businesses fail within the first five years. The time from launch to maturity of a startup is critical. There must be money available to continually reinvest in the business. If this is spent passing off non-productive tasks, the average small business owner/freelancer can easily find themselves in a bind.

It's simple enough to find someone else to do the work for you, but it's more challenging (and arguably more rewarding) when you find a way to do it yourself. I know what your next question is -- there are only 24 hours in a day. How can I make time for these activities when I should really be growing my business? That's a great question.

The best thing for you to do is to review how you spend your day. That means it's time to start tracking your time. How much time do you actually spend working? Are you spending too much time reading blogs (other than this one), browsing social networking sites, etc.? Once you know how your time is spent, you are then able to figure out where to "trim the fat". If you spend over an hour per day on social networking sites, that is probably too much. Try cutting it down to 30 minutes to see if that will allow you more time to work on those non-productive tasks.

Do you have any other ideas for staying productive while running a small shop?

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SMART Goal Setting for Freelancers

If you haven't already thought about your goals (or resolutions) for the year, now is the time to start. After reading a bit on Pat Flynn's Smart Passive Income blog (which I recommend, in case you don't follow it), I plan to post my 2011 goals to this blog.

One of the biggest keys is that you set SMART goals. What is a SMART goal? Simply put, it's a goal that is Specific, Measurable, Achievable (or Attainable), Relevant, and Timely. You should make sure that any goal you set meets all of these criteria.

Here are a few quick questions you can ask yourself to determine if your goals are SMART enough:

1. Is it specific enough? Would someone who doesn't know anything about me know exactly what this goal is without any help from me? For example, don't say "Learn to do something". Instead, say "Learn to play the guitar".
2. Is it measurable? Can you qualify or quantify this goal? Using the guitar example, you can say something like "Learn to play six rock-and-roll songs on the guitar" instead of just "Learn to play the guitar" as mentioned above.
3. Is it achievable (attainable)? Is it impossible to complete your goal? Very few things are truly impossible, so most goals will meet this criteria.
4. Is it relevant? If you are a musician and learning to play the guitar will better your career, great. If you love music, even better. If you aren't a musician, have no desire to learn music, etc., the goal is not relevant to your professional or personal interests.
5. Is it timely? You have to set a time limit. If you don't, you'll have no way to gauge your success. To wrap up our guitar example, you can say "Learn to play the guitar by September 2012."

I have been using this methodology since 2007 when I started working at my last "real" job. Each year, we were required to set SMART goals. Whether or not we reached these goals was a part of our annual review. Goals setting for freelancers is equally important. However, since you don't get reviews from a boss, it's important to make sure that you can be honest with yourself on whether you met or didn't meet your goals.

I challenge to you, for 2012, to publicly announce your SMART goals on your blog or some other public forum (post the link here, I want to see them!). At the end of the year, you can review your progress, also in some public forum.

So, let's hear (read) it! What are your goals for this year?

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Top 4 Reasons You Don't Have Any Clients and How to Change That in 2012

Psst...want to listen to this post? Find the audio at the bottom...

You've read everything related to marketing that you can get your hands on. You've followed the advice to to the letter. You have optimized your website, started social media accounts, you're running ads through Adwords. However, you haven't sold your product/service to one client. At this point, it's hard to see the light at the end of the tunnel or even to imagine that there is one.

Your biggest question is why. Why haven't you gotten any clients? Why have you spent countless hours and several hundred (or worse yet, thousands) of dollars to get in front of clients only to come up short each time? Why does everyone else seem so successful in their business when you aren't?

I wish I could tell you there was a "simple" answer to your questions. I even wish there was a magic potion I could give you to make clients appear on your doorstep (or the other end of your phone). Unfortunately, I'm not a genie in a bottle and this is not Aladdin. I can, however, give you some reasons that you may not have a client roster. Would you believe me if I told you that your business is suffering due to not following the most basic marketing principles? Well, listen up - it's most likely true...

I'm sure you've heard of the 4Ps, but in case you haven't, they stand for Product, Place, Price, and Promotion. One (or all) of these is the reason you don't have any clients. Let me break it down for you...

• Product: Is your product/service high-quality? Before you answer that question, you should know that this isn't a question for you to answer. Would the person who wants to use your product/service find it to be high-quality. Are you meeting a previously unmet need? Is there demand for what you are offering? If the answer to any of these questions is no, it's time to rethink your solution. This doesn't mean that what you're offering is completely off the mark. All this means is that you need to do a bit of tweaking to get things where you want them to be.
• Place: Where are you marketing your product/service? If it's something that would be of interest to the elderly, advertising on Facebook may not be the best choice (that's not to say that no older people are on Facebook). On the same token, if you are wanting to reach young adults, phonebook ads won't make sense. Ultimately, as long as you put your advertising where your target market is, you should be OK in this area.
• Price: Are you pricing your services too high? Too low? How will you ever know? You won't really. You have to decide what you are worth and hope this falls in line with what the market will bear. This is, quite possibly, one of the most difficult obstacles to overcome. Research what several of your competitors are charging and start your price right around that range.
• Promotion: What form of advertising are you using? How does this advertising reach your target market? Are you using the product/service's unique selling proposition in every piece of marketing collateral? Are you using other forms of non-interruptive advertising? This ties in very closely to place with the earlier points about where you are placing ads. How you are promoting makes a difference as well. Content marketing is a very time-consuming yet effective method (if done correctly). Ultimately, one of the best ways to promote your product/service is to give it away for free...

It's time to get back to the basics. Have you committed any of these "deadly" misfires in marketing? If so, it's not too late. You can still change things up. There is still time to save your product/service and your brand.

What can you do? Start (or cultivate a blog). Offer a giveaway. Define (or redefine) your target market. Talk to the people who make up your target market to see what they want/need from someone like you. Give more than you take. Tell people how to do everything that you do for free, and if they can't do it, guess who's the first person they'll call on?

Of course, there are many other ways that you can change up your marketing strategy, but if you don't have any clients something needs to be done sooner rather than later. What are you planning to do differently in 2012 and beyond?

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5 Office Upgrades for Last Minute Tax Savings

Psst...want to listen to this post? Find the audio at the bottom...

You're reading this. That means one of two things. You are already working as a freelancer, solopreneur, etc. or you are interested in starting a business. For those of you who already have your own business, it's time to start thinking about tax time. That's right - with the end of the year less than two days away, that puts tax time right around the corner. My gut instinct tells me that you've been doing that all along, but that's not the point of today's writing. You're reading this today because you want to catch a break on your taxes - and more specifically, find out about how to take advantage of last minute tax savings.

Do you have any cash in the bank (or in your pocket)? If not, there's no point in reading any further. If you do, listen up...

Look around your office. What do you need? What will make your work life easier? Have you been considering the purchase of new technology equipment or even smaller purchases such as printer ink? Now is your last chance to buy these things and deduct the cost as business expenses on this year's income tax filing. If you can't think of a list of things you need for your business, here are a few to consider:

1. A new computer: It's important to keep up with technology in your personal life. It's even more important to keep up with technology for your business. You have to make sure you have the latest and greatest in technology because your clients expect it and you deserve it. If you are working on a system that is more than 3-4 years old, it is definitely worth it to consider upgrading.
2. Upgraded software: If you are still running Office XP, there is something wrong with that picture. That software debuted in 2001. It's over 10 years old. People are sending .docx, .xlsx, .pptx, etc. files. You need to be able to open them. At the very minimum, you should have Office 2007, though Office 2010 is preferred. Check all of your other software to make sure that it is current. Software that is over 5-6 years old is not current. It's time to upgrade.
3. Industry-related books: You have to keep up with what's current in your industry. Often, you can find trends, etc. online. However, for in-depth reading, an eBook (compatible with your eReader of choice) or print book is probably a better choice.
4. New desk/office chair: Is your desk meeting your needs? Does your chair provide sufficient ergonomic support? If the answer to either (or both) questions is no, you may want to look into buying a new desk or chair.
5. Office supplies: This is something that every business owner needs and the one thing that you can never have enough of. We're talking paper, pens, printer ink, staples, etc. Essentially, office supplies can be any of those little things that are necessary for running a successful business.

Certainly there are other upgrades to consider, but I think all of us can find something to shop for from this list. If you don't have anything to shop for (unlikely), don't buy stuff just for the last minute tax savings. After all, if you purchase something you don't need, you're not really saving. The idea here is to increase UTILITY then promote SAVINGS. Your main focus should be on improving your working conditions/environment. 

What's on your "before the new year" shopping list? Do you need some help coming up with something to purchase? I'm glad to help. Drop a comment below or find me on Twitter (@eliseconnors).

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