Setting goals for your business each year is an important part of business planning. In fact, studies have shown that people who write down their goals are more likely to achieve them. You already know that goals need to be specific, measurable, attainable, realistic, and time-sensitive. But, how do you choose which goals to focus on each year, or anytime for that matter?
It all comes down to the fact that if you don’t know where you want to go, you can’t possibly set up a map with any direction to get there. But if you do know what to focus on, and what the end goal is, you will be able to better set up a system for success. However, to choose just the right goals to follow, you will need to know how.
* Fewer Goals Are Better – Set one goal for each part of your business. For example, there are five parts to every business no matter what, value creation, marketing, sales, value delivery, and finance. If you can set one goal for each of these areas, you will be set for the year.
* Goals Should Fit Your Overall Mission – Take a look at your mission statement, and compare every goal you set to how it affects that mission statement. If it doesn’t fit in, then it should not be a goal of yours. When you match business goals with your mission statement, you have a winner.
* Base Future Goals on Past Achievements – Always check the results of last year, before you set new goals. Some goal may even carry over, that you didn’t quite accomplish, allowing you to raise the bar on those. For example, if you had a goal last year to double your income, and you did not quite achieve it, you may want to reset a goal to double your income again.
* Know and Understand Your Reasons for Doing Anything – If you don’t know why you set a goal, it is not going to happen. Know your why, so that you can achieve the goal, based on something you have a passion for. It will not work if you are trying to achieve something you feel luke warm about. Passion is the key.
* Does Your Goal Make You Stretch? – It is important to ensure that the goal is something you know you can do, but at the same time, will push you a little bit out of your comfort zone. Then map out a plan of action, needed to succeed.
* Organize Goals by Priority – Once you set the business goals you want to achieve, take the time to organize them by priority. The priorities depend entirely on the “big dream” you have for your business, and how these goals fit in.
* Set Benchmarks — Set up smaller goals that enable you to check up on your progress throughout the year. Do not just put your head down and go at it blind. Know exactly where you should be throughout the year, to ensure that you are not drifting off course.
* Form a Team or a Mastermind – One way to set your goals, and to keep you on target, is to have a group of people you can trust, to get feedback and encouragement. Let’s face it, we cannot do it all alone. Having a small group of people, who trust each other, and help each other, when things get tough, is reassuring. We all need a little push sometimes, or just a word of encouragement, when we hit a wall. Often, the best ideas come from a brain storming session with our team.
Choosing which goals to focus on, takes an understanding of the past, as well as where you want to go in the future. Focus on the goals you are passionate about, following your dreams, and you will be heading in the right direction.
