Goal Setting and Getting Principles

Transcript

Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they welcome JT Tatem to discuss the importance of goal setting. This year is the fourth time that JT has joined the podcast to share his knowledge on the fantastic art of goal-getting! Learn how to reach your goals by following the actionable steps JT outlines in this conversation.

Listing of the week: Ryan Eastwood (Texas) is selling an Industry Leading Meat Company. The owner has been operating it for two years—fully owner absentee. The selling price is $5 million. The SDE is about $250,000. Reach out to Ryan at [email protected].

Key Takeaways

[2:40] If you spend so much time planning for a vacation, why wouldn’t you do the same with your personal and business goals?
[3:52] JT summarizes what he has been discussing regarding goal setting.
[6:08] The 8 Ws. Firstly, Write down your goal.
[7:14] Why do I want to pursue this particular goal?
[7:40] Where are the obstacles going to be?
[7:56] What must I learn to help me achieve my goal?
[8:11] Who can help me get the goal done?
[8:22] The Way: Describe your steps to reach your goal.
[8:37] When am I expecting to accomplish my goal?
[8:52] Work!
[12:30] JT exemplifies how to use the 8Ws.
[18:04] Whatever amount you think it will take to reach your goal, add 20%. (It never takes as little as you want it to.)
[20:20] Add the steps you must commit to reach your goal to your calendar and then do those tasks on time.
[22:17] Begin with the end in mind.
[25:16] Comparative analysis: What is more important to you?
[32:35] Have milestones set along the way, and when you achieve them, celebrate!
[34:37] Deal of the week: Paul J Vento (Union Middlesex County, New Jersey) just sold an Italian restaurant. The business was sold for $725,000. Good deals for good people!
[41:40] Listing of the week: Ryan Eastwood (Texas) is selling a custom beef company. The owner has been operating it for two years—fully owner absentee. The selling price is $5 million. The SDE is about $250,000.

Mentioned in this Episode:

Call us — (888) 719-9098
Email us [email protected]
Contact Paul Vento at [email protected] or call (973) 568-4723.
Reach out to Ryan Eastwood at [email protected].

Mentioned in This Episode

• The Deal Board Podcast
• Subscribe to The Deal Board Podcast YouTube Channel
• The Deal Board on LinkedIn
• Transworld Business Advisors
• Transworld Business Advisors on LinkedIn
• United Franchise Group
• Learn more about JT Tatem
• Listen to "2022: Goal Setting"
• Listen to "Business Goals for 2021"
• Listen to "Setting and Executing Your Goals"