11/07/2011

Get in the fast lane for business growth. Lara Morgan (CEO of Company Shortcuts, formerly CEO of Pacific Direct) on setting your targets for business success

By Marcus Leach, Head of Editorial at Fresh Business Thinking

There are many people who have set out to be the best in their respective fields, yet we see so many fall short of their goal because they are not prepared to go that extra mile. Lara Morgan, however, cannot be accused of this. Having started her first business out of a spare room in her house in her twenties, she went on to sell the majority shareholding in that company for £20 million.

Driven by a basic need to provide for herself, she set out to simply be the best at everything she did, focused on her goal and prepared to do whatever it took to be successful.

"It was 1991, the last recession, and I needed to eat - it was that simple," Morgan said. "From day one I had the basic need to make enough money to live a reasonable standard of living. But ultimately I wanted to be the best at what I was doing."

Whilst the nature of the sales-orientated world she started out in ensured she was always setting herself targets, it wasn't until later in her journey into the business world that Morgan learnt to have structured, and focused business goals.

"I only learnt goal setting eight years into running my own business," Morgan admitted. "I have always self goal set, as that is what I was like as a sales person. But until I went on a business development programme I genuinely hadn't been that stringent on the importance of goal setting, but once I had been to that course it became a mantra with everything I was doing." Coupled with self-education, Morgan firmly believes that having well defined goals are two of the most vital components to being a successful entrepreneur.

"Goals ensure you are focused," Morgan explains. "If you set the right goals and set the right targets to ensure you stick to what you are good at, then you don't get distracted. When you properly goal set you have a clear vision, and then all targets you set should be clearly aimed at getting to where you want to get to."

“By having those clear targets, everything else becomes redundant as you stop getting distracted and doing things that are not going to help you get where you want to be. When you are asking yourself 'should I or shouldn't I do this?' if it doesn't help you move towards one of your goals then you shouldn't do it."

"On top of that, education is at the heart of business growth success, and if an enterprise leader is constantly educating themselves, networking, learning and then applying it all, then a lot of other things take shape around that."

And now, despite her success, Morgan remains passionate and focused in all she does."Everything I do is around being competitive, being the best I can be and having the most possible experience," she said. "It is all about the attitude to life, having a positive attitude to everything, as I know that works."

Watch the video below featuring Gerard Burke of Your Business Your Future, discussing the 7 pillars of a better business.

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Create a better future for your business and yourself! Fresh Business Thinking LIVE! at Cass Business School is a one day event specifically designed for ambitious entrepreneurs and owner managers. Lara Morgan will be speaking at Fresh Business Thinking Live!at Cass Business School. To book for the event on 7th September, click here