Episode 24 – Does setting small goals win over dreaming big?

Virtual Summit Mastery Podcast
Virtual Summit Mastery Podcast
Episode 24 - Does setting small goals win over dreaming big?

For years, I would focus only on goals and I would feel super bad about areas where I wasn’t meeting my highest expectations. Be it having a profitable business that almost runs itself and that would have to spend about an hour a day on, be it having this one magic, say it’s a funnel that drives leads and say it’s every single day.

Or be it eating healthy, sleeping well. And just being in a good physical condition.

The point is. I have been holding myself to extremely high standards. Ever since I’ve started my journey in entrepreneurship, really. And in this podcast episode, I want to tell you how I’ve changed this approach to goal setting. To avoid burnout and to improve productivity massively. And to frankly, hit my goals.

Welcome to the Virtual Summit Mastery podcast, where you will discover practical and proven methods to exponentially grow your email list, influence revenue, and impact. And now your host Jan Koch.

This podcast episode is a bit different as you can probably tell.

And it is not so much about virtual summits, but it’s about. Being a business owner and being a human and performing well in all areas of life, not just in business, but also as a human being.

And I have a two-year-old daughter at this time. I want to be there for her. I want to be present and I want my business to allow me to be present and to have a financially secure foundation. So that my family is taken care of, no matter what happens, no matter if the economy tanks like this doing right now, no matter if I get sick and I cannot work for six months.No matter if my wife wants to have a new car or whatever.

I want my family to be taken care of. And that is the main goal, the main reason I run Virtual Summit Mastery.

But it’s also putting a lot of pressure on myself and I want to do a bit of real talk in this podcast episode. And this is one of the first episodes that I have not scripted into detail as I do with the other ones, because I want to make sure with the education of podcasts that I hit on the most important takeaways and that I give you the full process that I want to teach in those podcast episodes.

In this one, it’s a bit different. I want to share how having those high goals. Almost led me to burn out. And what I’ve done differently since then. So let’s dive into this. When I had this is probably 2015, 2016. My business had plateaued.

I ran the first WP summit back then, and it took my business back on track I want to say. I got better clients as a WordPress developer.

I made five figures from that first virtual summit. Everything was great. But then I fell into this trap of setting these 10X schools like Grand Cardone was really big back then. And everybody was talking about 10X, your goals think big, and dream big. And the rationale was to have those big goals.

These big, hairy, audacious goals, BHAGs as they are called, will inspire you to take massive action. And that will inspire you to do what’s necessary to hit those goals. Nobody tells you though, is. They lead to burnout. They make life miserable. If you have those big goals, let’s say right now you’re earning $10,000 a month.

If we’re honest, that is enough in most areas of the world, $10,000 gives you a pretty decent lifestyle.

Let’s say you want to go from $10,000 to sticking with a 10X rule here, a hundred thousand dollars.

I don’t think it’s easily possible to make this jump. And maybe this is a scarcity mindset or limiting belief on my end, but. I think the processes and the systems and everything you have in place that got you to $10,000 will not get you to a $100k straight.

I just don’t think that your business would support that. I think your business would break. If you aim to go from 10,000 to a hundred thousand.

Your business would break. For years, I would have that goal and I want to hit a hundred thousand dollars and I want to hit a million dollars a month eventually and blah, blah, blah. And I was measuring myself up against that and I would feel super frustrated even though I had that say, $20,000 a month, or I had a $25,000 or $30,000 a month.

I would still feel bad because I was so far off. From those 100,000 that I had set my goal on. And this is just not a fun way to live. And it almost got me to the point where I burned myself out and Seriously and the threat of getting depressed. And big things to my wife for taking me out of that hole.

Grounding me bringing me back to reality really, and showing me how far I’ve come and how good life already was. It’s not we are super-rich. It’s not like I’m running a million-dollar business as of now, but. It’s not like we are broke either.

So we can help ourselves and we have a good lifestyle. We have a better lifestyle than most of the people around us. And that is something that I have to be grateful for. And I am, and.
Being able to support my family, working from home.

Doing this online business thing where I teach people how to run, which was summits. That’s amazing. I love it. I love coaching people. I love putting together these events. I make money. Doing what I love and that is. A very important thing, because if you are stuck in a red raise in the corporate career,

And you don’t. You dread your work, you don’t enjoy your work. Life is miserable. I’ve been there. It’s not a fun place to be in that situation. And therefore, what I’ve started doing over the past is that’s probably two years ago or something. I started reflecting. On how far I’ve come and put that into perspective. When I set my new goals, I didn’t set these 10 X goals anymore. I still have this vision that eventually.

Virtual Summit Mastery will become a multi-million dollar business. I have no doubt in my mind that will happen. But. It’s not the next goal. The next goal is to let’s say two X, my monthly revenue. It’s not a 10 X goal. The next goal is to double my monthly revenue, then probably doubling it again and doubling it again. You get the point it’s more achievable. And when you have more achievable goals, you have an easier time mapping out the strategy.
Of hitting those goals. And I think that’s a very important thing. When you have those massive ambitious goals, it’s great that you have them and they are necessary. I’m not saying don’t set big goals, but. They can cloud your vision on how to get there. Rivera’s when you have. Smaller more achievable goals.

It’s easy to map out the path of hitting them, of actually taking the steps you need to take. To get from $10,000 a month to $15,000 – or from $10k to $20,000 a month. And frankly, it feels great. When you say I’m going from 10 to 20 and you hit that 20. That’s amazing. Whereas when you say I’m going from $10k to $100,000 a month.

And then you have a $20,000 a month. You still don’t feel great, even though you’ve doubled your income, you don’t feel good about this. And that is I think a very important mindset shift that many entrepreneurs need to make in order for them not to burn out and in order for them to stay inspired and to keep moving forward every single day.

Because entrepreneurship is not easy. We put ourselves through challenges. Every single day, we have fires to put out in our business. We have customers to take care of. We have marketing campaigns to execute on. We have content to create. We have all the stuff around accounting and invoicing and blah, blah, blah.

It’s not an easy lifestyle. We do it by choice because it gives us the freedom to live life on our own terms. And I wouldn’t trade it for any other job in the world. But it’s not an easy job to do. It’s not an easy position to be in. If you’re an entrepreneur. So setting yourself goals that empower you every single day in that when you wake up, you can think about, oh, it’s actually possible that I hit this goal.

That is super, super important. And that is something that I’ve learned the hard way. That it’s not worth burning yourself out. And even when you say.

And even when you see Virtual Summit Mastery materials and the marketing materials that I publish. When I share reviews of people who ran the six-figure summit. Or who made $50K on a virtual summit or who ran their first virtual summit and they did $10,000 or something like that. That is not something you should measure yourself up against. If you’re, for example, just starting from scratch.

By the way, if you’re interested in seeing how VSM helped one student get 7,500+ leads in the NLP space, check out this interview with Eugen Popa.

If you’re starting from scratch, your main goal is to make that first thousand dollars a month. And then you make your first $2,000 a month. And then you make your first $4,000 a month. Go step by step it’s one day at a time. It’s one goal at a time. Nobody says that when you hit your first goal, you need to stop growing, you just adjust, you get the next goal, and then you set the next goal, and then you set the next score.

But break down the journey that you are on into achievable chunks. And then you put the building blocks in place to actually achieve those goals. Be it having an engaged audience. Be it. Learning how to sell your service or your products, be it how to write, copy, how to do email marketing, how to run a virtual summit, how to do a podcast.

Whatever format of marketing and sales works best for you. That is what you should focus on. And of course some methods seem to work better than others given on the economic circumstances and giving on what is trending on social and giving on the platforms that we have right now. So everybody’s talking about Tik TOK. For example, I don’t like being on Tik TOK, dancing around and doing funny video clips and stuff like that.

It’s not for me. So I just don’t set a goal to have 50,000 followers on TikToK or something like that. Or to make money from TikToK. I focus on what I do best. Which are virtual summits and email marketing that works for me. The VSM podcast is amazing. It’s fun. And I’m glad I finally have the time to record another episode.

And then YouTube is something I want to do more of in 2022. But. It all comes back to having your core strength. I love speaking into a microphone. I love being on camera. I love interviewing people and sharing my thoughts, and that was a journey. It took me like nine years. To become this comfortable recording myself and then listening back to myself and the editing and stuff like that.

And it’s not happening overnight. And this is the whole point of this podcast episode. I know I’ve been rambling quite a bit, but I want to do this in one take to give you the unfiltered opinion. That. You need to take this journey of building your six-figure or seven-figure or eight figure business.

Day by day. And step-by-step, you need to have a vision for where you want to go, and then you need to break down that vision into manageable chunks and into manageable steps. And this is the lesson for today. This is the lesson I want you to take home from this podcast episode. Don’t compare yourself to others who are way further ahead on their journey. It is their journey. It’s not your journey.

You have your own speed of achieving things, but when you set goals, make sure that you are accurate and setting goals. Be reasonable with the milestones that you want to hit. Have that big vision, of course, dream big. If you want to have a million-dollar business and you know why you want to have a million-dollar business, that’s cool. Go for it.

But don’t go from, I’m going to make $5,000 a month this month to, I want to make a hundred thousand next month. That’s not going to happen. Go from 5k to 10 K to 20 K. And build up a solid business and don’t burn yourself out. Along the way. Thanks for listening. If you want to learn more about this podcast, go to https://vsmpodcast.com. If you want to learn more about virtual summits, grab my book.

That’s the benefit of going through my website. I catch you in the next episode. Cheers.

© 2022 Virtual Summit Mastery™ is curated by Jan Koch and it’s a Trademark of Jan Koch Einzelunternehmen. All rights reserved.

Student Success Stories & Testimonials. As with any business-related program, your results using Virtual Summit Mastery may vary from these student success stories and testimonials. Your results will be based on many variables, such as your level of effort, business acumen, personal qualities, knowledge, skills, and a host of other factors. Since these factors differ for each individual, we cannot guarantee your success, results, or income level, nor are we responsible for your success or failure. VSM is not a “get rich quick scheme.” It takes lots of time, effort, and dedication. We believe we provide you a great toolbox to achieve your desired results, and these VSM Graduates couldn’t agree more.

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