Big Goals for Business Growth: No Target Too Tall

From backpacking to Bo Racking, Tim Haschke is an entrepreneur that started with not much more than a big goal. As a young man, he recognised an opportunity and jumped on it. In the last 8 years, his company has transformed from a 2-man show in Sydney to a 130+ person operation across 5 major cities around Australia.

So how did he do it?

 

I was lucky enough to hear Tim’s story first-hand, and to no surprise, he had some incredible wisdom to share. Tim’s experience is all about seizing opportunity, setting big targets and going after them whole-hog.

 

When I asked Tim how he got to where he is today, his first step was surprisingly simple. Turns out, you don’t always need an elaborate business model to start a multi-million dollar company.

 

You know what his first tip was? The target never changed. 

 

From day one, working as a general labourer on minimum wage, the target was clear. And over the years, as he scaled and grew his business tremendously, the target stayed the same.

 

Now have a guess what that target was. Double the revenue. And that’s what they’ve done each year ever since. Incredible, right?

 

What were he and his business partner thinking at the time they set that initial target? Three key things:

 

1. The growth of the company, not the profit;
2. Daily processes that would turn into long-term growth; and
3. Building the right team and getting them on board.

 

These are really interesting tips because as business owners, of course we instinctively think about profit. If you’re a numbers person, you probably see growth in terms of dollar signs. 

 

But the reality is that growth comes in many forms and, particularly in the early days, you may find yourself feeling more motivated and optimistic looking at other forms of growth, like those daily processes you put in place to keep things running smoothly or the new ace hire you just landed who you know is already in it for the long haul.

 

That third point is something I want to dive a little deeper into. Are you someone who shares your plans for growth with your wider team?

 

Tim certainly is, and he’s got an excellent method for relaying those targets on to his team members.

 

Each year, the Bo Racking team sits down and maps out their targets in increments, starting with their 3-year vision. One by one, they break that vision down into smaller targets moving from three years to one year to 90 days to this week. 

 

It all happens in a roundtable setting, so everyone gets a chance to contribute and see how they fit into both short and long-term targets, both short and long-term. Ultimately, this makes everyone feel valued and in return, they’re equally invested in the company’s growth.

 

On top of this annual target-setting session, the team also has quarterly check-ins to track their progress using set metrics tailored to each department. This is yet another brilliant idea because they’re not only collectively tracking across the entire company, they’re also identifying gaps and target areas for improvement.

The cherry on top? Everyone from the owners to the leading hands are on board with these metrics, and everyone has a shot at a juicy bonus when the targets are met.

 

If you’re serious about growing your business the way Tim and his business partner Felix have, it’s time to think about how you’re setting your targets and how they’re translating for everyone on your team. It’s not just you at the top, as I’ve said before, you’re not a lone wolf. 

 

Book in a time with your team to set your targets:

1. Three years from now
2. One year from now
3. 90 days from now
4. This week

 

Get everyone involved from the ground up and start seeing exponential growth across all departments! Remember, no target is too tall. It’s how you step up to it that counts.