Does Success Have a Formula?

The answer is yes, and we have all experienced the success formula or observed the formula in action at some point in our life. The question is, have you recognized the formula, and can you apply it to success in your business. 

This is the formula for success:

Step 1: Set the Goal: In the words of Steven Covey. “Begin with the end in mind.”  Envision what your goal or business will look like in one year, three, or five years. Be specific and detailed. This is the outcome on which all the other steps of the success formula will be based. Why a date? The answer is in athletic competition. The athletes with a vision of competing in the Olympics know when the Olympics are scheduled—knowing the date, the athletes back into the work necessary to achieve their goal. The date does not reflect their training schedule; the athlete’s training regiment reflects the competition date.

Step 2: Decide On The Next Step: To decide on the next step, one needs to know where they are currently. The decision on the next step needs to include details on the resources required to accomplish this task. Resources is a broad term and could consist of specific individuals, financing, or a definitive skill set to name a few. Understanding the next step in detail is critical because many persons either ignore or are unaware of the necessary preliminary work required to execute the next step

Step 3: Execute the next step: Take action on Step 2 of the success formula, and bring your plan to life.   

Step 4: Evaluate the results of your actions: All of the actions need to be evaluated and analyzed. The analysis and evaluation will assist in determining if you are making progress. The evaluation period can be daily, weekly, or monthly, determined by how the goal and next step are structured. Words of caution refrain from “paralysis of analysis”.

Step 5 Adjust where necessary: Most action steps need to be adjusted and can be the most frustrating part for someone with a burn to achieve. Simplify the concept of adjusting; envision you are on a trip, run into a traffic jam, and need to make a temporary detour. The goal never changes; the next step is altered for effectiveness due to an unforeseen obstacle. If the “Next Step” was a success, the time has come to decide on a new “next step”. 

Step 6: Repeat the process: Set the Goal – Decide on the Next Step – Take Action – Evaluate the Results – Adjust Where Necessary and Repeat

Sounds simple enough. We have done this countless times in our life without even thinking about it. Or, at times, have watched others work through the success formula.  

For Example, the education experience. At the beginning of the school year, a student wants an “A” in a specific class and decides how much time they will need to study for accomplishment. If the intermediary evaluations of their achievements are not putting them on a path for an “A”, they make adjustments. The adjustment may include seeking additional guidance or allocating more time to studying that specific subject. 

For the football fans, and there are millions of them, you see this formula play out every time a football team’s offense takes the field. The success formula is the system a team uses to work themselves down the field. The goal is to score a touchdown; the next step is a first down. A play is called, and the correct personnel are sent onto the field. The play is executed. After the tackle, the play is immediately reviewed by the coaches in the skybox,  after which another play is sent to the sidelines. The objective of a first down or touch down is never altered; the path to accomplishment is constantly being adjusted. This process is repeated play after play. 

Most people get bogged down in deciding the next step and adjusting. Decisions are made based on information accumulated to date. To change the outcome frequently, the information or the source of information will need to change. Thus the reason a head football coach has coaches in the skybox observing the entire field of play.  

Carefully defines your goals, create a strategic plan for yourself, execute and evaluate on a regular basis, make adjustments where necessary, and you will hit your goals or objectives.