Business Plan Goal Setting for Kids

Goal Setting and Resource Allocation

Lesson Details:
August 03, 2020

Video Transcription: In this video I'm gonna cover the fundamentals of time management goal-setting and resource allocation and a few other important tasks for the planning of your business this video is brought to you by Appy Pie’s Academy ordinarily I would probably split up all of this into separate videos to tackle one large topic at a time but because you have to introduce extra simplicity into all these elements we're gonna put some simplicity as an emphasis here because you don't want to get bogged down by the details of this you don't want to make your business cumbersome you want to make it really easy to move forward and I'll give you the theory here and just so you see how easy it is I'm going to show you how I do my business strategy for the entire year almost in the same way but that's gonna be in the next video to show you here we're just gonna go over how you should do it for your business and it's all about intelligently insensitively planning ahead so in the first first part of this is that you want to create your year goals let's say you're starting on you know January 1st where do you want to be in 12 months the end of the year you don't have to obviously be starting on January 1st but that's just a good place but for our example so you may be if you're running.

If you're starting a business that's like a lawn lawn care or a gardening business maybe your goal is to have 10 regular clients a month okay or something like that for your child or if you're selling a product on Etsy maybe your goal is to have you know maybe a thousand dollars in sales within within a year or something reasonable not too much because your child can do this full-time they have to go to school they have to do other after-school activities so you have to have low achievable goals to start so that you don't create a lot of unnecessary pressure and if you over achieve that's perfect so you have those goals then you have to identify the critical tasks that need to be accomplished to get to those goals now when you write them down in the piece of paper all those critical tasks product creation if you're selling a product the outreach if you are promoting gardening things like that and then precisely because you have a small team and you have a team that's working part-time you have to narrow your tasks to only the critical ones this is extremely important and you can do this if you want to as an exercise with your child or at first maybe do it on your own and then kind of walk your child through this but make sure that when you do present this to your child that they have an active role in this and they're just not going like uh-huh uh-huh uh-huh but they're brainstorming with you back and forth like which tasks you know all right you think are important which are not once you've narrowed down the important tasks you've gotta split the tasks between the team members. 

If it should be obvious huddle for how to split it for you because you'll be doing all the boring tasks and your child will be doing all the creative fun tasks that there's you know kind of feel like they're moving the business forward and then you create a monthly and weekly to-do lists once you have your monthly and weekly to-do lists it becomes very apparent what needs to be done when and out of that you can plan every week you will plan like let's say on a Sunday night you plan out every day of the week what to do so that way there's no question every let's say after school or 5:00 p.m. instead of watching cartoons or TV both of you together you're working on your business side-by-side this is a fantastic benefit of having co-founders is that you guys hold each other accountable and believe it or not most likely your child will equally hold you accountable as you will them even if they don't explicitly say that you'll be thinking oh my god like my kid is expecting that we're gonna work now and you know I have to drop my other plans so maybe you finding that you will both hold each other equally accountable but that's a fantastic part of having a good co-founder is that at the same time you'll be working side-by-side on your business it can be just one hour a day it can be more it depends how excited you guys are about this and me and what other tasks you have to do that day for the rest of your life but essentially this is going on achieve your resource allocation your annual planning and your daily time management time management is really all it is I mean it's a more complicated topic but the core of time management if you want to sum it up is essentially to pre-plan your tasks the day before so that you follow a schedule and you know oh from this time to this time.

I am doing this task and it becomes really apparent and easy it sends sets mental boundaries for like oh I'm doing this task so I'm doing it and if you don't plan ahead you you your schedule is more random and you are much more likely to allow random other things to creep into your schedule so this is the fundamentals of all these important productivity tasks that your child will learn with you and will be able to take for the rest of their school you know how they approach homework for the rest of their education how they approach college how they approach work how they approach their business in the future it's all going to be time management skills goal goal setting skills resource allocation skills these are all things all skills that are transferable for the rest of your child's life and once you have this if you make it really easy to work on your actual business day-to-day so in the next video let me actually show you what my goal setting and annual planning looks like so that you see how easy it can really be.

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