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Setting Goals to Grow

⏱️ 41:07 🎤 Andrew Dwyer, Kevin Hoffman, Chris Elliott
AUDIO EPISODE
Setting Goals to Grow
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Chapters

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  • 0:00
    Introduction & Youthful Perspective
    Andrew Dwyer and Kevin Hoffman introduce the episode, pondering how youth's energy in business mirrors personal youth, highlighting the importance of strategic planning.
  • 3:27
    Introducing Chris Elliott
    Andrew introduces Chris Elliott, President and CEO of On It Painting, praising his sincerity and curiosity as crucial traits for success.
  • 5:34
    Chris's Goal Setting Approach
    Chris explains how his goal-setting evolved from naive beginnings to a sophisticated, vision-driven process, reverse-engineering from long-term aspirations.
  • 10:57
    Evolution of Goal Setting
    Chris details his journey from basic revenue goals to adopting structured frameworks like EOS, emphasizing its impact on his business's growth and refinement.
  • 15:10
    The 'We' and Financial Focus
    Chris clarifies 'we' refers to his leadership team and explains how financial review, including revenue and profit, drives their strategic planning process.
  • 24:55
    Vision, Mission, and Values
    Chris elaborates on using a 'vision sheet' to align the entire company on its mission, values, and long-term aims, emphasizing clarity over anxiety.
  • 28:48
    Employee Buy-in for Goals
    Chris discusses how to achieve employee buy-in for goals by ensuring they align with the company's vision and allowing individual goal setting.
  • 33:50
    What Drives Chris
    Chris shares his personal motivations, including a love for people, building a great team, and the personal and professional growth derived from business challenges.
  • 37:58
    Effective Goal Measurement
    Chris explains what constitutes a good goal at On It Painting, distinguishing between measurable goals and thematic goals with measurable key drivers.
  • 42:53
    The Power of Networking and PCA
    Chris highlights the transformative power of networking, specifically his experience with the PCA Expo, and encourages engagement in industry and community boards.

Speakers

A
Andrew Dwyer
Host
K
Kevin Hoffman
Host
C
Chris Elliott
President and CEO of On It Painting

Key Takeaways

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Start with a clear, aspirational vision for your business, then reverse-engineer it into 10-year, 3-year, 1-year, and 90-day tactical goals.

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Regularly review your financial performance (revenue, gross margin, net profit, cash flow) and operational data to understand trends and forecast accurately.

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Foster employee buy-in by clearly communicating the company's vision, mission, and values, and encouraging individual goal setting that aligns with company objectives.

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Implement a structured planning process, such as a two-day annual session followed by quarterly reviews, to maintain focus and adapt to changing conditions.

✦

Define goals either as measurable objectives (e.g., specific NPS score) or as thematic goals supported by clear, objective key drivers (e.g., improve customer service through specific actions).

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Engage in networking opportunities, like industry expos or community boards, to learn from peers, gain new perspectives, and expand your professional circle.

✦

Don't shy away from external expertise; consider fractional CFOs or business coaches to address weaknesses and provide objective guidance in strategic planning.

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