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001: Taking Control of Your Game — How to Effectively Set Goals & Track Progress in Your Business

Entrepreneur, best-selling author, and investor of ABC Network’s Shark Tank

Daymond John

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About This Episode

It’s the leader’s job to chart the direction of the business. However, even with a clear vision, selecting the right goals can be challenging and overwhelming, especially when there are more options and opportunities than resources. Without specific goals, you and your team will struggle to focus and maximize the return on your effort.

Tracking progress often feels just as confusing. Even the most profit-minded leaders sometimes question if they’re headed in the right direction and wonder how if what they’re doing is working.

The challenges of 2020 have only made setting goals and tracking progress harder. In this episode, we interview entrepreneur, best-selling author, and investor of ABC Network’s Shark Tank Daymond John about taking control of your game by setting goals and tracking progress for your business.

1. Negotiation is a soft skill we use daily to live with our families and work with our teams.

However, most people don’t consider themselves to be strong negotiators. There are three steps to negotiating in life, and as you repeat these three steps, you’re negotiating power becomes stronger:

Building influence with a reputation communicating what you stand for.
Negotiating deals that benefit both parties.
Nurturing relationships with people you meet and work with.

2. In addition to profit, measure the progress of your business by its scalability, which Daymond defines as ‘the ability to grow.’

Daymond typically looks at how little the organization has to spend to produce its current results, the current processes ability to be replicated to further growth, and the awareness of the organization is of the customers’ needs.

3. Education is the x-factor for every business leader.

Daymond emphasized the reality that we’ll make mistakes. However, our ability to learn and grow will be the best determining factor in how far we go. There’s a new challenge at every stage of our journey, and the only thing consistent will bring to those experiences is ourselves. To make sure we’re ready, we must continually invest in ourselves through podcasts, books, online courses, peers, and mentors.

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