Hey Coach!
What’s up for 2025? I know many start with goals and resolutions around this time, but for you, as a coach, it’s probably a bit different. You’re not just thinking about yourself; you’re thinking about your clients too. But let’s be honest, how often do you truly apply the same rigorous goal-setting process to your own practice that you use with your clients? Why you are setting goals and how you do it counts for something.
Why:
Is this just a routine for you (something you do every year), or is the actual origin of intent within you (something you do purposefully and intentionally because you, not anyone else, want to)? Answer your “why” first. It’s crucial.
I think Simon Sinek still has the best talk on the topic. Be sure to check him out.
So, How do you set goals?
Many people talk about SMART goals, and I’m sure you’ve heard about them. As a coach, you should go further than that. Don’t just set SMART goals – go for SMARTer. Let me show you what I mean.
I’ve been known to say, “I don’t have new year resolutions, just one life resolution.” It’s a bit of a mantra for me. But that doesn’t mean I don’t set goals. I just approach them with a more holistic and effective framework. In my experience working with coaches and their goals, I’ve seen many of them struggle with the complexity and clarity required to run a successful practice. Their goal frameworks worked well for clients but never seemed to produce the same results for their own businesses. As a coach, you need a robust system not just for your clients, but, perhaps even more importantly, for yourself. This is where combining SMART goals with OKRs and the 80/20 rule comes in.
While SMART (Specific, Measurable, Achievable, Relevant, Time-bound) provides a good starting point, it lacks the strategic depth needed for significant, sustainable growth. It’s like having the ingredients for a great meal but no recipe. That’s why we’ll combine it with the OKR (Objectives and Key Results) framework and the 80/20 rule (Pareto Principle) to create a truly powerful, and crucially, practical goal-setting system.
Step 1. SMART Goals: Foundation for great goal setting
Let’s quickly recap SMART:
- Specific: Clearly define what you want to achieve. Avoid vague statements. Here’s an example: Instead of “Get more clients,” say “Gain 10 new coaching clients in the first quarter of 2025,” or even better, “Gain 5 new executive coaching clients at a rate of R50k per session in Q1 2025.”
- Measurable: Establish metrics to track progress. How will you know you’ve succeeded? For example: Track the number of new client contracts signed, revenue generated, or client hours booked.
- Achievable: Set challenging yet realistic goals. Be honest about your resources and time.
- Relevant: Ensure your goals align with your overall vision and values. Are they moving you in the right direction?
- Time-bound: Set deadlines to create a sense of urgency and maintain focus.
Step 2. OKRs: We all need Direction
OKRs introduce a vital layer of strategic thinking. They consist of:
- Objectives: These are qualitative, inspirational descriptions of what you want to achieve. They answer the “what.” Example: “Establish my coaching practice as the go-to resource for leadership development in the tech industry.”
- Key Results: These are specific, measurable, time-bound metrics that track progress toward the objective. They answer the “how.” Examples:
- “Secure features in 3 leading tech industry publications by June 2025.”
- “Host a well-attended webinar on leadership in tech with at least 100 attendees by Q3 2025.”
- “Generate 20 qualified leads from networking events and online marketing by December 2025.”
Step 3. The 80/20 Rule: Here’s how to Work Smarter, Not Harder
The 80/20 rule states that 80% of your results come from 20% of your efforts. Applying this to goal setting means ruthlessly prioritising the vital few actions that will have the biggest impact. It’s about focusing your energy where it truly counts.
Here’s how to apply this combined framework:
Example: Objective: Increase my coaching revenue by 30% in 2025.
- Initial Key Results (Before 80/20):
- Increase social media posting.
- Attend every networking event in town.
- Create a complex, multi-part email sequence.
- Offer free introductory coaching sessions.
- Applying the 80/20 Rule: Analysis (or even educated guesswork based on past experience) reveals that high-value clients are primarily acquired through referrals and strategic partnerships.
- Revised Key Results (After 80/20 & SMART):
- Objective: Increase my coaching revenue by 30% in 2025.
- Key Result 1 (Focus on Referrals): Implement a formal referral program with existing clients, aiming for 10 qualified referrals leading to at least 3 new paying clients by Q4 2025.
- Key Result 2 (Focus on Strategic Partnerships): Secure partnerships with 3 complementary businesses (e.g., HR consulting firms, leadership training organisations or high-ticket closers to delegate sales) by Q2 2025, resulting in at least 3 more new client engagements.
It’s not a Magic Pill: How to Make This Work for You
This powerful combination isn’t without its challenges. Here’s how to address them and make this truly effective for your practice:
- Complexity: Combining three frameworks can feel overwhelming. Solution: Start small. Master SMART, then layer in OKRs, and finally apply the 80/20 rule. Don’t try to implement everything at once.
- Identifying the “20%”: Accurately pinpointing the 20% requires analysis. Solution: Track your activities and their outcomes. Use tools like CRM systems, spreadsheets, or even a simple journal. If you lack data, start with educated guesses and track the results to refine your understanding of what truly moves the needle. Read more in my article, “3 Steps to a 6-Figure Coaching Business”
- Overemphasis on Measurable Results: Focusing solely on numbers can neglect qualitative aspects. Solution: Balance quantitative key results with qualitative measures like client testimonials, case studies, or self-assessments of your own coaching skills.
- Potential for Rigidity: Time-bound goals are good, but life happens. Solution: Schedule regular review periods (monthly or quarterly) to assess progress, adapt to changes, and adjust key results as needed. Be flexible!
- Subjectivity in Defining Objectives: Objectives can be open to interpretation. Solution: Spend time clarifying your objectives. Ask yourself, “What does success truly look like?” Be as specific as possible.
Take into account these potential issues and implement the solutions to maximise the impact of this (unnamed) framework. It’s not a magic pill, but it’s a powerful tool for creating a truly thriving coaching practice. It’s about finally applying the same strategic thinking you use with your clients to your own business.
I should name this framework, ha? What do you think? Let me know on LinkedIn