This is a Linkedin post by Jesse Pujji. Jessi a serial entrepreneur that lives in the US. He has:
- Bootstrapped to an 8-figure exist with his previous startup, Ampush
- Is currently building GatewayX, a venture studio that he plans to bootstrap to $1B+
- Executive Chairman & Founder of GrowthAssistant.com
- ex-McKinsey Consultant
Guest Author: Jesse Pujji
As I write this, behind me is a whiteboard.
…it’s full of ideas for the vision of Aux Insights, my new private equity consulting company.
→ And it’s my secret weapon for building a successful businesses.
Here’s why:
I call it my DFS. My Desired Future State.
It’s where I want to see my business in 10 years. 3 years. 1 year. And 3 months.
Because once you set your DFS, making progress becomes easy.
Here’s how it works…
Simply take your current reality (where you are as a business today) and compare it with your DFS!
Once you know where you are and where you want to go, you can work backwards to determine the # of emails & mtgs needed to back into hitting your goals.
Here’s why it works…
1. It gives you clear direction:
With a DFS in mind, you know exactly what your next steps are. It’s like magic!
Example: if your SaaS sets a DFS to hit $1mm ARR by the EOY, you can work backwards to hit it.
2. It helps you measure progress:
A DFS is a clear and specific articulation of something YOU want.
You can have it include numbers, data, teammates, customer types…the more detailed the better.
3. It inspires action:
A DFS is not bound by your current situation or resources. It is exciting, ambitious, and driven by curiosity and fascination – motivating you to turn your vision of the future into reality.
Here’s how you can set a DFS for your business…
1. First, create a compelling vision for how your business will live in the world, and write down how you’ll know you’ve achieved it.
2. Describe your desired state in 10 years, 3 years, 1 year, and 3 months.
Your 10 year DFS can be the least specific, while your 3 month should be very specific.
Then…
3. Ask yourself some key questions:
– How much revenue and profit will we be making?
– How many customers will we have?
– What type of customers?
– How many employees?
– What’s our org chart?
– How are we helping people?
But also remember to…
HAVE FUN, dream and enjoy this part – it’s your chance to dream up and build your vision.
Then it’s time to do the scariest thing for most entrepreneurs:
4. Confront your CURRENT reality.
Acknowledge it by…
1. Developing an awareness of where you are today
2. Accepting reality as it is (facts, not stories)
3. Avoiding judgment
See it as clearly as possible.
That’s it!
Writing out your DFS is the first step towards planning for a successful year.
But it’s only the first…
I put together an entire set of 7 templates that take you through my step-by-step process for annual planning.
I give them to all of my new businesses so they can get a head start on where I was 15 years ago.
Like this post & comment “Bootstrapped” to get the template sent for free!
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