The Power of a Stretch Goal [& Why You Need One!]

Every successful entrepreneur I know has a stretch goal.

It’s not always reasonable, but it’s something that motivates them to keep going.

Always in pursuit of a stretch goal myself, I recently pickup up a book titled “Finish” by Jon Acuff.

It’s a book about how to set goals in a manner that ensures you can have the satisfaction of achieving them.

Jon refers to this as “giving yourself the gift of done”.

The book is a quick read and provides some good insights, as well as good reminders on how to ensure we finish the goals that we set out to achieve.

As a goal-setter myself, it was a good reminder of some fundamental truths, namely, to set goals that you can realistically achieve.

As long as you commit the time to achieve them, and motivate yourself to complete them with both tiny rewards along the way, and a big reward once complete.

The Stretch Goal

The book, however, is missing a critical component that all entrepreneurs and small business owners need to include in their goal setting. The stretch.

In my experience coaching business owners, although it’s important to set realistic goals, there should also be a goal that stretches you—one that makes you uncomfortable and takes you or your business to new heights.

For many, this is launching a new product or service, setting a new revenue target, or possibly entering a new market.

It might also be a personal goal tied to a significant shift in health or wellness (you have to be around in order to see your goals through, after all!).

As the end of the year fast approaches, it’s important to set goals for the coming year both for your business and your personal life.

I’d recommend Jon’s book as a great way to kick off this activity and prepare yourself mentally.

In addition, however, make sure you set a significant goal that is a stretch beyond what you would typically achieve, something that would cause a significant shift in your business or your life.

Use the tips above and you’ll be well on your way to achieving your stretch goals!