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How to Outlast 99.9% of Entrepreneurs

Thank you to our sponsors who keep this newsletter free to the reader: In a world that wants immediate gratification, all it takes is a long-term mindset and consistent action to outperform 99% of people at whatever thing you choose to do. And the easiest way to follow your long-term path is to use structured, strategic planning. Here’s the planning approach for the business:

Here is how I think about my business:

- Goals: Decades
- Strategy: Yearly
- Tactics: Quarterly
- Effort: Daily

I simply plan on outlasting most people.
Justin Welsh (@thejustinwelsh) October 8, 2023 It all starts with knowing what impact you want to make with your days on this Earth. You may not know exactly how to get there, and that’s okay. A goal-setting framework will help. And that’s what I’m showing you today. Today I want you to understand how I transform my big mission into daily action steps that move the needle. Or as the saying goes - how I eat the elephant, one bite at a time.

Goals (Decades)

First, consider the big goal. The mission. Consider the mission a goal that will probably take decades to achieve. And the foundation of the business philosophy lies in knowing what impact to make on this world. It took some years of stumbling around on the internet to figure it out (as it might for you), but the purpose is finally clear. The goal: help 1 million people escape the rat race, build thriving one-person businesses, and enjoy freedom-filled lives. So everything here is laser-focused on that outcome. Notice the big goal isn’t a “me” outcome, but rather a “customer” outcome. Funny enough - when you help others, you generally help yourself. Helping others is always a win-win. So ponder these questions for yourself:

  • Who do you want to help?
  • What do you want to help them do?
  • Why do you want to help them do that? Clarity around these questions will inform your strategy.

Strategy (Yearly)

Year by year, the strategy inches closer to the ultimate goal of impacting 1 million people. I call the yearly targets “BHAGs” (big, hairy, audacious goals). And these strategic goals inform everything over the course of that year. But you can’t just slap a BHAG together. You need to use the right framework to give yourself best chance for success. I use the SMART goal framework, meaning the strategic goals should be Specific, Measurable, Achievable, Relevant, and Time-bound. For example, expanding the top-of-funnel footprint on LinkedIn and Twitter was the BHAG for 2023. But what does that mean, exactly? Let’s isolate the LinkedIn goal to dig in:

  • Specific. Grow the LinkedIn following by posting content 3x per day.
  • Measurable. Grow the LinkedIn following from 340,000 to 750,000 by posting content 3x per day.
  • Achievable. Grow the LinkedIn following from 340,000 to 500,000 by posting content 2x per day.
  • Relevant. Grow the LinkedIn following from 340,000 to 500,000 by posting content 2x per day. Engagement rates must grow to prove I’m attracting the correct prospects.
  • Time-Bound. Grow the LinkedIn following from 340,000 to 500,000 by posting content 2x per day. Engagement rates must grow to prove I’m attracting the correct prospects. The goal should be reached by December 31st, 2023. That is a SMART goal to work against. Metrics show the pacing is on track toward the goal. The engagement trendline is moving in the right direction (win), with 1.53 posts per day averaged (miss), trending toward 508,000 followers by year’s end (win). LinkedIn analytics dashboard showing follower growth metrics

Tactics (Quarterly)

A new quarter presents an opportunity to review, refine, and execute tactics that support my yearly strategy. Identifying the top 20% of actions that yield 80% of the results matters most. 3 tactics lead to most of the growth:

  1. Create one new and one repurposed LinkedIn post per day.
  2. Schedule 5 new calls per quarter with up-and-coming business people to continuously expand the network.
  3. Continue to engage with a network of family, friends, and peers on the platform. Next, each of those tactical actions becomes quarterly milestones to track progress. For example, for tactic #2 above:
  • Complete 5 Zoom calls with new creators by April 1, 2023.
  • Complete 10 Zoom calls with new creators by July 1, 2023.
  • Complete 15 Zoom calls with new creators by October 1, 2023.
  • Complete 20 Zoom calls with new creators by December 31, 2023. While it may seem simple, having these plans out in a one-page document (and in the calendar) increases the likelihood of hitting these micro-goals.

Effort (Daily)

Lastly, the daily grind is where vision is molded into reality. It’s about the non-negotiables, the daily commitments to creating and sharing helpful content, engaging with the community, and learning from the feedback. A single day is a stepping stone toward achieving the ultimate mission. With so much going on, the Google Calendar holds it together, and the schedule makes sure all these micro-goals get the time and attention they deserve. So the calendar stays filled with tasks every day that support the mission. Here’s an example of things you’ll find on my calendar: 8:15 am. LinkedIn post comes out. Spend 30 minutes engaging. 8:45 am. Find content published in the network, and show support. 12:00 pm. Write one new piece of LinkedIn content. 12:15 pm. Edit and repurpose one older piece of content that resonated. 12:30 pm. Schedule content for tomorrow and create bonus tips for the comments. 3:00 pm. Identify one person outside the network and plan to start a dialogue. Sometimes this schedule moves around, to keep life flexible. But at the end of each day, the daily effort that leads to the big mission is non-negotiable. Having these tasks on my calendar makes it all possible.

Stay the course

Outlasting most people isn’t about blind hustle. It happens by following a disciplined, structured approach to your work. You must be relentless in pursuing the BHAGs, focused in strategizing annually, careful in planning quarterly, and committed to showing up daily. Working for yourself, reaching big success is a mix of dreaming big and making step-by-step plans. Or, in other words - putting your time and effort where your mouth is. The SMART goal framework, combined with daily effort, lays down a simple path that helps you stay true to your goal while dealing with the unavoidable ups and downs of building your own online business. As you move along on your journey, use this organized approach to guide you and help you stay motivated and dedicated to your mission.