Discover more from Thai Newsletters
The Ultimate Framework For Achieving Your Goals In Business
How To Use The G-T-S-T Framework To Succeed in Business
To succeed in business, it is essential to have a framework that guides you through the process and accomplish your goals.
Any successful business person has a framework they use to operate and run an organization. A framework doesn't guarantee success, but it guarantees direction. Without a framework, business operations can become unsustainable and doomed to fail.
The G-T-S-T framework, which stands for Goal, Targets, Strategy, and Tactic, is an excellent tool to help you accomplish your goals. This framework is often used a lot in soccer, where coaches have to find a system to help the whole team win games and trophies.
If your dream is to become a millionaire and your goals and targets (short-term and long-term), strategy, and tactics don't make sense, or if you don't have any at all, it will be very difficult to reach.
In business, the hardest thing is not to make money but to hit your goals and targets of customers and production. Without customers, you don’t have people to sell, and without production, you don’t have products to sell.
In this article, we’ll study the G-T-S-T framework and find ways to help implement them into daily practices and business.
Defining Your Goal
The first step of the framework is to define your goal.
A goal is the ultimate objective that you want to achieve.
Goals force you to raise your standard and better yourself to reach them. They motivate you to take action.
But they can also become a trap, deluding you from reality.
For instance, if you want to launch a successful online business, your goal could be to generate $1,000,000 in revenue. Right now, you may not have a million, but the pursuit of obtaining it can serve as a motivation to improve yourself.
Goals can be difficult to accomplish.
There are many complexity and obstacles that come into play when you want to reach a goal. These things often display themselves as idealism, negative self-talk, doubts, and other barriers that can discourage you from pursuing your goals.
Without setting targets, your goals can become more than a dream than reality.
Setting Your Targets
To make your goals become real rather than just a dream, you need to set your targets.
Targets are short-term, “mini goals” that you hit to get you closer to your goals. Targets are daily evidence that reminds you whether you are on track to reach your goals or not.
A target must be tangible and measurable. You must be able to see, touch, and measure your targets.
In our previous example, if your goal is to make $1 million in revenue, then your targets can be:
Make $2,740 per day for 365 days.
Or find 365 people each willing to pay you $2,740 for your products and services
Or find 1 million people each willing to pay you $1 for your products and services, or 100,000 people each willing to pay you $10 for your products and services, or 10,000 each willing to pay your $100 for your products and services, or 1,000 people each willing to pay you $1,000 for your product and services.
Here’s the chart to make it easier to read:
$1 - 1 million people
$10 - 10,0000 people
$100 - 10,000 people
$1,000 - 1,000 people
You can be creative with your targets in any shape or form, but remember; your target must be tangible and measurable.
Once you set your target, your job is to pay attention to your daily execution with your target.
If you can hit your target once, you can hit it again.
Rinse, recycle, and repeat until you hit your goals.
Planning Your Strategy
Once you have defined your goal and target, it's time to deploy strategy.
A strategy is a plan that includes your actions with targets. It is a holistic roadmap that assists you with direction.
Without a strategy, you risk getting lost, and your actions will have no impact on you and your goals.
For instance, if your goal is to make a million dollars, and your target is to find 10,000 people each willing to pay you $100, your strategy can be following:
Identify 5 local places with a total of 10,000 people to offer your products and services.
Identify 5 online places with a total of 10,000 people to offer your products and services.
Create products, services, and offers for those people. Understand Marketing will help you speed up this step
Find resources that can help you build your products and services. Outsource to them if possible.
Educate people about your products and services through writing, pictures, videos, and many other publication methods.
Think of strategic planning as designing a system. The better you design your strategy, the better it can help you achieve your goals.
“Design is not how it looks but how it works.” - Steve Jobs
Designing a strategy is one of the greatest skills any leader or entrepreneur can have to achieve their goals and grow their business.
Implementing Your Tactics
Finally, you need to develop tactics.
Tactics are micro execution within strategies that will help you achieve your goals.
A great tactics tactic requires a good attitude, a good approach, and good action.
Implementing tactics requires you to be flexible and positive because you will face obstacles. In fact, you will need multiple tactics that will help you overcome any obstacles that you encounter along the way.
You can improve tactics by learning, studying, and refining your methods. Consistent practice will enhance your skills and judgment, enabling you to hit your targets much more effectively.
Often, you can change your attitude, approach, and actions within tactics, but you cannot change your strategies.
Separating tactics from strategies allows for greater flexibility while still focusing on achieving your goals.
Keep in mind that you will face problems, challenges, and obstacles along the way as you seek to reach your goals.
Expect problems to arise, but it’s better to face, address, and tackle them before they even occur.
You're already this deep into the process, so plan for the ugliness.
There are two main obstacles you need to consider to achieve your goals. The first is identifying things you need to give up, and the second is addressing problematic issues. The first obstacle is within yourself, while the second obstacle comes from external.
Things you have to give up
It's not easy to give up the things you currently do or possess.
However, there are things that hold you back from moving forward. These can include negativities, junk food, distractions, negative influences in your life, and many others
One of the hardest things to do when working towards a goal is to let go of some big aspects of your life.
However, by doing so, you show a willingness to grow, evolve, and reinvent yourself as a new person.
Things that are problematic
Problems are inevitable, but you can overcome them by developing appropriate skills and tactics.
Turn problems into math, and solve them.
If customers reject your service, respond with a better offer. Find new customers, generate more leads, and fill up your sales funnel to avoid complacency.
If a partner quits, find another one from your contact list.
If there are problems, there are solutions. Find people who have solved them.
Plan, learn, prepare, and act when problems occur.
Understanding the science of goal setting can make you unstoppable in achieving your goals.