Earlier this week, Michael Hyatt joined me on the podcast to talk about goal setting and I wanted to continue on that theme and lay out the importance of setting milestones in your business.

Many times, we only think of milestones as big or important events from the past. Milestones should also be pre-meditated events that occur on our way to hitting goals, finishing projects and building our businesses. They provide a frame of reference for how far we’ve come and what’s ahead.

As entrepreneurs, we have no problem finding what’s wrong in our business. It’s a lot harder to recognize what’s great and take time to recognize the people who are doing great things! Developing milestones for your business allows you to celebrate with your team. You can cast a vision and track the progress by rewarding team members for what’s accomplished along the way.

Next time you start a project, decide what the milestones will be and how you will celebrate each one. If you’re not celebrating achievements with your team, they don’t know what they’ve accomplished and are probably pretty unmotivated. Milestones will give them goals to hit and when they do, you celebrate!

Question: What’s your next big milestone and how are you going to celebrate it?