Goal-Setting for Female Entrepreneurs: Achieve Your Career Change and Business Launch with Confidence | Ep #170

In this empowering episode of the Second Act Success Career Podcast, host Shannon Russell dives into goal-setting strategies tailored for women ready to quit their 9-to-5 job and launch a fulfilling business. Discover how clear, intentional goal setting can accelerate your journey from career transition to successful entrepreneur. Shannon shares insights on defining your "why," setting SMART goals, and creating a flexible roadmap that keeps you on track while navigating the challenges of starting a business. Tune in for practical steps, personal reflections, and motivating advice to help you design a business that fits your life and lights you up. Start your path to Second Act success today with Episode #170 of the podcast!

SHOW NOTES
https://secondactsuccess.co/170

---------

Book a FREE Call with host and career/business coach Shannon Russell - https://www.calendly.com/second-act-success/coaching-strategy

FREE Resources
https://secondactsuccess.co/resources

LISTEN to the How To Quit Your Job and Start A Business Podcast!
https://secondactsuccess.co/listen

LET’S CONNECT!
Instagram - https://instagram.com/secondactsuccess
Facebook - https://www.facebook.com/secondactsuccess.co
TikTok - https://www.tiktok.com/@secondactsuccess
All the latest - https://secondactsuccess.co/links
FREE Resources - https://secondactsuccess.co/resources

REVIEW & SUBSCRIBE THE PODCAST!

Transcript

Second Act Success Career Podcast
Season 1 - Goal-Setting for Aspiring Female Entrepreneurs: Achieve Your Career Change and Business Launch with Confidence | Ep #170
Episode - #170
Host: Shannon Russell
Transcription (*created by Descript and may not be perfectly accurate)

[00:00:00] Speaker: Are you ready to quit your nine to five job and start a business of your own? Well, you're in the right place, my friend. Welcome to the second act success career podcast. I am your host, Shannon Russell. I am a former television producer turned business owner, career transition coach, and boy mom. My mission is to help you produce your best life.

This podcast will teach you how to get from where you are now to where you want to be and how to build a business that fits your life and lights you up. Let's get started.

hey there. Welcome back to the second act success career podcast. I'm your host career transition and business coach Shannon Russell. Today, we are talking about something essential for every woman on a journey to start or grow a business. 

And that topic is goal setting. Now if you're anything like me, you might feel like you love setting goals. But sometimes that excitement of a new goal can lead us into [00:01:00] jumping into something without fully researching it and figuring out the house and the why's. So today we're diving into why it's so important to flush out your goals before you jump in. 

And how taking time upfront can truly make or break your journey as a new or growing entrepreneur. 

. This episode is for all of you incredible women out there who are dreaming big, whether you're just getting started or you're already knee deep in building your business. I've got your back 

Before we dive into the goals and exactly how to make sure they're aligned with us. I want to bring up the fact that we have an opportunity. That our grandparents did not have. If you think about it in this day and age, we have a privilege. As women that we are able to change careers, we are able to launch our own businesses that maybe our grandmothers didn't have back in the day. Oftentimes I will think about my two grandmothers who are [00:02:00] no longer with me. 

I think about how strong they were and how they were the leaders of their household and they raised their kids and they raised their grandkids and they worked and they did all of the things. But they did what they thought they had to do. Instead of necessarily what they wanted to do. And now as an entrepreneur myself, I wish that they were here so that I could ask them. About what they really wanted to do, what they dreamed about when they were young. And if they felt like they tried it and it didn't work, or they just never had a chance to try. My grandmas saw me as a television producer and they thought that was wild. 

And just out of the box that I moved to Los Angeles and had this. Very ambitious career. They did not get to see me. Opened my first business or opened my second business and now have the opportunity to work with other women so that they can change careers [00:03:00] and launch businesses of their own. And I wished that they were able to see me because I feel like I'm doing what I'm doing for them. And I love for you to think about those women who came before you and what they either accomplished or didn't have a chance to accomplish. Think about the fact that you have opportunities. That they didn't. And so when you're sitting here and you're waffling on whether or not you should make this change and make this leap and move towards this. Audacious goal of yours. Maybe think about your grandmother. Think about what she would have wanted or think about your mother. Think about these women who are older than you, and did they really get a chance to make a change? And better themselves and leap into something that they felt they could do to really fulfill themselves.

And as we talk about goal setting and we start planning our goals for the next couple of [00:04:00] months here in 2024, and think about goal setting for the next year in 2025. I want you to think about the opportunities that you have in front of you and whether you try them or not think about this as really lucky chance to reinvent yourself at this age and to try something different. Whether it succeeds, whether it fails. You are leaping into a chance to try and really that's all we can ask of ourselves. We will never know if we can do that thing. 

That seems a little bit out there. A little bit out of reach. Until we try. 

All right. My friend, let's start planning some goals. 

Let's start by talking about why taking the time to really develop our goals is important. 

When we have an idea in front of us and we're thinking, oh, maybe I can launch that business. 

. Or making that pivot in any new direction. [00:05:00] It's easy to get carried away with the excitement and the big grandiose picture we paint in our heads. And don't get me wrong. 

I do that all the time. I'm very much a. Ambitious. Let's just dive into it type of person. But without a clear roadmap 

that excitement can quickly turn into overwhelm and confusion 

And it can cause us to shut down. And not even want to try. Think about it, like planning a trip, you know, where you want to go, but you have to figure out how to get there. 

You can't just jump in the car and put pedal to the metal and just take off without directions without GPS, without a map without gas. You need to actually think about where you're going and how you're getting there. You want to set up your directions. You want to set up your timeframe. You want to know if you are stopping along the way you want to know if you have a place to stay when you get there so many things. 

And when you start planning, it actually gets you more [00:06:00] excited and focused and motivated. And it keeps you on track. So you don't lose track of that ultimate goal. That finish line.

Goal setting, even when it comes to business and our careers. Is psychology. Right. Psychology is the essential tool for self motivation. You are listening to this podcast and that means you are a self-driven person. You are thinking big picture, you know, there's something that you personally or professionally want to achieve. And that. And by thinking that way you're giving meaning to your actions, right? 

You are. Striving for a bigger purpose and you want to achieve it. So it's the psychology of setting up your goals, getting you excited, and then you can aim higher. By setting your goals, getting that roadmap together. Where you're getting ready to head out, you know, which way. Is going to lead you to that finish line. 

And that plan is going to hold everything together. [00:07:00] Keep things in perspective. And ultimately get you there because the more effectively we plan the better we are of actually achieving what we're aiming to achieve.

Okay. So that is the reason we're talking about goal setting and the psychology behind it. 

But let's talk about defining the why, if you've been with me for any amount of time, you know, I talk about the Y a lot. There's an entire chapter in my upcoming book devoted to finding your why. And so goal setting is all about that. Because you don't want to leap into something new. And find out you're going to be in the same place you are now just in a different location or in a different role or in a different job. 

What you want to do is start asking yourself the big question. The big question is why is this goal so important to you? What is the why behind your goal? [00:08:00] And as women, we always talk about. Wanting that perfect. Work-life harmony. Making everything fit. So that we can feel happy and fulfilled. We're balancing the kids and we're balancing work and the responsibilities and the bills and the afterschool activities. So our why and wanting to shake this all up. And switched to something new has to be really powerful. 

Knowing the deep reason behind your why and why you want to start this business and make this change is going to be your biggest motivator. Maybe it's financial freedom. Maybe you want to have a more flexible schedule. Maybe you're tired of working for someone else and you feel like you're serving your family and you're serving everyone else that you want something that is yours. 

And this business you want to create is. Going to give you that creative outlet and have you be the boss? whatever your reason is, it's just essential that you go back to your why, and you're really [00:09:00] clear on why you're making this change because the clearer you are, the more confident you will be. And the more confidence you can portray to those around you. Who may be the naysayers who might be questioning your motives, 

who might be asking you, do you really want to do this? 

Do you really want to change things? Why don't you just wait until a better time? And I don't know if you should do this. It's a little unstable stop. Because once, you know your, why you will have that confidence and you will project that confidence. And then when other people see how confident you are and that you did your research. You know your plan, you have that roadmap. They will take a step back. Most likely they will see your confidence and they'll say, whoa, okay. 

You know what you're doing? And I'm going to cheer you along. Because you are confident, you know, your why.

Take a moment. Really dig down deep, write down your [00:10:00] reasons, know your reasons why. And ask yourself, what will achieving this goal? Starting this business mean for me, for my family and for my ultimate life. Having this clarity around why you're making this move will help you stay grounded. When things get tough and trust me, we all need that because starting a business, making any kind of leap can be tough. 

It's definitely ebbs and flows of emotions and challenges. So really being grounded to that, why to that reason. We'll set you and your goals off to a great start. 

Okay. As you are starting to plan out your goals, right. Maybe you know exactly what it is you want to start, you know, the business you're moving into, you've determined your why. Now we're going to break down our goals a little bit more, and we're going to just get a little bit clearer on them. 

And the way you can do that is by breaking down your goal. I use the method of [00:11:00] smart goals, which means specific, measurable, achievable, relevant, and time bound. If you are unfamiliar with smart goals, we're going to break it down right now. 

Let's say your goal is to start a business next year. That's great. But it's very vague when next year, what type of business, how are you going to start it? Smart goals make us break that goal down. So you would go to number one, the S which is specific. Instead of saying something more general, like I'm going to start or grow a business, let's start getting clear on what that growth means. Maybe you want to get that business off the ground. 

It's brand new the ideas in your head, but it's not yet built. You want to actually launch your business next year? Or if you have a business that's already established, you want to grow your business next year. That might mean by increasing revenue, expanding your customer or client [00:12:00] base. Or launching new products or services. Be specific about how you want to attain your goal. Next is the M and smart. The M is measurable. How will, you know, if you've achieved your goal, how can you actually measure it? 

And that's when you think. Okay. The website is launched. My commerce is open. I'm able to take clients, whatever it might be for a new business, or if you have an existing business and you want to grow different aspects of it, you can look at the numbers, right? You can set a specific, measurable number of how you want your revenue to grow. 

How many new clients you want to take on how many new products you want to launch? You can actually get measurable by the numbers. And again, if it's a new business, you can measure the fact that your goal is achieved by saying. As long as the website's up, my social media is set. I'm open to take clients. 

I have all the backbones ready, my [00:13:00] businesses launched, and that is measurable. 

Next we go to the, a in smart and the a is achievable. We want to be realistic, right? Setting a goal to double your revenue in five days is not realistic. So let's think about your goal in realistic terms. If you are starting a new business. How do you know that your goal is starting? A new business will be achievable. 

Well, as long as you have taken those measured steps, right? 

You have those different aspects of the business launched and out to the public and you get your first client. Then, you know, that that goal. Is realistic. You've gotten a client, maybe you are doing a beta test of your products. You are doing your market research. You're bringing whatever it is that you're offering out into the world to test it out and to see. What customers or clients think of your product that is not only measuring your goal, but you're going to see results by [00:14:00] actually achieving the goal in testing it. Or it might be, if you want to hit a certain revenue number, let's be realistic. 

And maybe instead of giving yourself five days, you give yourself five weeks or five months, and then you can know that yeah, I can achieve that goal. I know how much work I need to do before I get to that goal. So making your larger goal into smaller goals that are more achievable. 

The R in smart is relevant. 

Make sure your goals align with your bigger vision. Ask yourself, does this fit my larger business goals or values? Is what I'm planning on doing? Actually going to bring me to launch my business. Or grow my business. What is relevant? And this goes back to the idea that when you're setting goals, you're thinking big, you're getting excited and you're thinking about a million different things you can do. Sometimes you need to get back to the relevance of those goals. And you think, [00:15:00] okay. Yes. 

I'd like to offer this big black Friday sale. And I love to offer all of these special bonuses. But maybe. Just for right now, you start off small and you launch. You know, if you products or you launched a few services And you see how your customers or clients react to those before you offer bigger grandiose plans for the business. 

So keep it relevant. lastly, the T in smart is time bound. Meaning you want to give yourself a deadline? You want to say, I don't just want to grow and launch three products. At some point next year. You want to give yourself a deadline that says 

I want to launch or release three products in six months. Then you can look at that and say that is doable. And here's how I can achieve that six month goal. This gives you a target to work towards. So you're not floundering in the bigger picture. You're actually giving yourself [00:16:00] smaller goals that will pertain to the larger picture. 

Breaking down, your goals will just help you feel like they are attainable, they are smart. They're less overwhelming. They're more achievable. And it also gives clear markers of success. So you can check the box. If you will, on all of your to-dos, you can check the box when you achieve that smaller goal. And you can check the box when you've have the logo made for your business, or you set up your e-commerce site, whatever those little steps are, they become attainable, achievable, and more real. 

You actually can feel that movement as you move towards your ultimate bigger picture goal. 

Speaking of breaking down our bigger goal into smaller, actionable steps. Let's talk about how to do that. I want to achieve my goal in one year in six months, whatever that ultimate timeline is. And then you can reverse engineer [00:17:00] that timeline. Look at your calendar. And mark out what you can do in the months leading up to that. 

For example, if you say that you want your business launched in six months, then you can break down the calendar and say, okay, in month one, I'm going to do X, Y, Z. In month two, I'm going to focus on this, that or the other. You're really taking all of the million things on your list that needs to be done before your business is launched and you're breaking them down. 

So it's easier to manage and it's a lot less overwhelming. You don't want this big daunting list 

and then you freeze and then you don't get anything accomplished. Instead, you're breaking it down just like you may do now in your current role, or even in managing your house, you have a shopping list that you write down what you need to get at the grocery store, or you might have a list of what needs to get done this week for the kids or a homework list or chore list. These [00:18:00] lists actually break down the huge pile of ideas that are in your head. Into easier to understand groups when you look at that calendar and you start mapping out your timeline to achieve your goal, to make that ultimate second act, move. So again, you can break things down by month by week, depending on how long you're giving yourself, but by breaking them down, you'll feel proud every time you can check something off and you accomplish that section, that goal you'll feel happy to just know that you can check that off your list and move on to the next grouping of, to do's.

Now you have set your goals, you've broken them down into smart goals and you put them on the calendar and scheduled them out. Now that you've done all of that. That is the start of really moving forward. But how do you track your progress and make those adjustments if needed? 

That's really what I want to remind you when we [00:19:00] are talking about setting goals. Is that. It's just an idea. It's a blueprint. It's a flexible moving calendar.

Goal setting isn't to set it and forget it. You actually need to work and track your progress so you can make this beautiful calendar. You can make this timeline of. Getting you from where you are now to where you want to be. But you want to track your progress 

and know that it's a flexible document. 

It's a flexible plan. Check in with yourself. Maybe you want to check in with yourself once a week or once a month. Put a note on your calendar and you give yourself one hour, a week or one hour, a month to sit and look at your progress. Are you on track? 

Is there anything you need to adjust? Are there any obstacles that have come up. And then maybe you have to go in and be honest with yourself and readjust your timeline. Maybe you're adding another month [00:20:00] onto your goal onto your schedule, or maybe you're taking a month or a few weeks off. Everything is moving around, but 

at least you have that blueprint in front of you that you can look at. So you know, the direction you're heading in. You're looking to see if anything needs to me moved around kind of like a puzzle. 

This is your puzzle. You're assembling it in a way where you can get from point a to point B. I think The biggest thing to do is keep in mind that it's a flexible process. And give yourself that grace and permission to make the adjustments as you go. Your goal is moving forward. And that is what is most important. One of the best ways to make sure you're staying committed to your goals. Is to build that accountability. Maybe you have a friend, maybe you have another acquaintance that, you know, that is a business owner that you can lean on. Maybe you have a business partner. 

If you have a business partner, then you already have that person baked into your business. 

If you don't feel like you have a [00:21:00] friend or a partner. That's in it with you while you're building this business and going after this goal, then you can hire a coach or a consultant, someone who can check in on your progress and cheer you on and give you pointers on how you can actually make that momentum that you want.

Many female entrepreneurs find that a community of support can be a game changer. So whether you have it in your close circle, whether you go outside and hire a professional to help you, or maybe you do networking and you find people in your local community or online community who are in the same space. Those are people who understand what you're going through. I have entrepreneur, friends who I talk to you all day, every day. We just constantly are in contact and we support each other's businesses. I'm also a member of a mastermind where we come together and we share ideas and we hold each other up and we support each other. And those are really amazing [00:22:00] relationships that I don't know what I would do without. Because there are people that I can go to who understand 

Where my family and friends who don't necessarily own businesses of their own, they won't understand. The every day aspects of running a business, like women who are actually in it with you. 

Find those like-minded people find people who are on similar journeys. And then work together to motivate and support each other.

As we wrap up today. And as you start to think about the goals you have for the remainder of this year, or for the new year ahead, I want to urge you to embrace the journey. To really celebrate your small wins along the way. And to go back to your why each and every time you feel scared or overwhelmed or anxious. 

Remember that no one. Is. watching every little step you're doing. This business can launch in six months like you're planning or it can launch six months after that. No one else knows your [00:23:00] business. Like you do. No one else knows your goals. Like you do. have your goals, plan them out properly. And then keep that motivation going, keep your excitement, keep your organization, follow that blueprint you built and set yourself up to hit those mini milestones. 

Remember to treat yourself well. Reward yourself. When you hit a big milestone, recognize your accomplishments and keep that excitement, knowing that once you get to the other side and you have that goal accomplished life will feel a lot different. You will feel accomplished and confident and excited to then take your new found business and grow it even more.

Goal-setting is more. than just writing things down on a piece of paper. 

It's about committing to the process and being able to work through any challenges or hiccups along the way. And it's focusing in on that. Why that made you want to make this change in the first [00:24:00] place? Stay focused, even when things get tough and just take the time to really flush out your goals. Create that roadmap and set yourself up for real success. On your business journey. I hope you're feeling inspired and equipped to really set your goals in a great way so that you can launch or grow your business over the next year. And remember you don't have to do it alone, reach out and get that support and guidance when you need it. And know that you've got this, you are moving forward truly towards that life that you really want. And I'm cheering you on all the way until next time, my friend, take care and keep producing your best life.

[00:24:43] Speaker 2: Thank you for joining us. I hope you found some gems of inspiration and some takeaways to help you on your path to 2nd Act success. To view show notes from this episode, visit secondactsuccess.co . Before you go, don't forget to subscribe to the [00:25:00] podcast so you don't miss a single episode. Reviews only take a few moments and they really do mean so much.

Thank you again for listening. I'm Shannon Russell and this is Second Act Success.