There is a Formula for Success in Business

Look at any successful person and you will find some common denominators and commonalities in their characteristics. Of course, only you define what success looks like for yourself and you shouldn’t focus on someone else’s definition of success to define you. But what you can do is adopt those common habits and characteristics to help you get to where you want to be. It isn’t a secret, and there is no special sauce. But there is a FORMULA.

Brad Sugars, CEO & Founder of ActionCOACH, the largest and most successful Business Coaching organisation in the world highlighted this formula for success on a recent Drive Time Video on Facebook. This formula is at the centre of several proprietary processes and strategies that ActionCOACH teach their clients every day.

You can watch the Drive Time video here.

The formula  for success itself is simple…

Dreams x Goals x Learning x Plans x Action = Success (D x G x L x P x A=S)

Successful people start by having BIG, huge, audacious, some might call crazy dreams. These dreams are vast, unlimited and reflect the adventurous nature of most successful people. They don’t worry that others might think their dreams are unattainable, they forge ahead and work to fill out the rest of the formula.

Dreaming isn’t enough on its own though. You have to go one step further and make those dreams tangible. Write them down, share them and make them as real as possible. Create a vision board, make a collage of visual elements that you can refer to everyday to remind you of where you want to go, what you want to have or who you want to be. Remember dreams are long term visions for your future. Think 10-20 years out. Start today, so you don’t lose any more time.

Now is the time to create some goals to achieve your dreams. Goals on fitness, lifestyle, wealth, relationship, business etc. These goals are shorter term, are measurable, realistic and help you chart your progress towards achieving your dreams. Goals should have a shorter time frame, maybe 5 years and can change or be adjusted along the way. These specific goals are critical to forging your success.

Once you have set goals it’s time to learn. That’s right. You have to learn what you don’t know to achieve the dreams you have. If you want to have a certain level of wealth, you might have to learn more about real estate investing, the stock market, debt reduction, and maybe even tax implications. You have to add to the knowledge you have to ensure you are able to reach the milestones you have set within your goals. You have to learn or become a better you to actually realise those BIG dreams. Take time to learn. Take a class, read books, attend conferences and study so that you are armed with the information and new skills you need to accomplish your goals.

Now that you have knowledge, start planning. This plan is the way you will achieve the goals you set. This means getting accountable. Get a mentor or a coach to help you stay on track and ensure that you stick to the plans you set. Strategies and tactics might change but your goal should remain constant. This is sometimes the hardest step because it means that you are identifying what you will have to do. That means once your plans are set, you will have to take action.

Action is the last step toward achieving success. You have to actually do something to reach the dreams you started with. You have move towards where you want to be. You might have done all the work, made your dreams tangible, set measurable goals, spent time learning and created plans but nothing will happen or change without you taking action.

This formula for success sounds easy and it is if you apply it. Break it down. Take it one step at a time. And realise you can work on several dreams, goals, plans at the same time. Don’t limit yourself.

To find out more about how I can help you realise your business dreams book a call with me for an initial 20 mins strategy session.