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How many times have you set goals, only to see the goal come and go becoming a part of the past?
Probably a lot, considering that 70% of people fail to meet the goals they set. While personal goals are one thing, business goals are an entirely different thing. If you don’t meet your business goals, your business may fail, leading to many repercussions from that itself. So how do you make sure you can set business goals that you actually achieve? In this guide, we’ll walk you through how to set and achieve the goals!
Keep reading to start achieving!
Why Set Business Goals?
There are many reasons to set goals and many benefits as well.
Business goal setting gives you a clear path to the future, and it makes sure that everyone on the team can see that path. There is a shared definition of what success is for your company. Business goals also set priorities for your company’s needs. While you can have a lot of different goals and things you want to achieve, having the more important ones as a priority can be the difference between having success or not in your business.
Lastly, business goals keep everyone accountable and engaged. Everyone knows what they are working toward, and achieving those goals can bring feelings of success and reward.
Look to the Past
In order to know where you want to go in the future, you also need to look at the past to see where you have come from since you started. This is crucial to ensure that you do not repeat the past.
While you look to the past, you’ll want to identify what you see as your company’s strengths, weaknesses, opportunities, and threats. On top of reflecting on those things, ask yourself:
- What is working
- What can be improved
- What will determine future growth
Once you have these questions from reflecting on your past and analyzing what you have been able to do thus far, it’s time to look to the future and plan.
Set Clear Intentions
When setting intentions, you need to sit down for a span of time to write down what you intend for your business. Where do you see it going? Why is it important that it goes there?
You’ll want to also ask yourself what your end goal is for your business. This can help you set the intentions for the goals you will be setting later.
Brainstorm Your Goals
Now it is time for the fun part: Brainstorming your goals.
Goals start as dreams – they are the hope that you have and see for yourself. When you write down a dream, it becomes a goal.
However, there’s a bit more to it than that. For starters, your goals need to be S.M.A.R.T goals. This means you will be turning your dream into the following:
- Specific: Determine the who, what, why, and when of every single goal
- Measurable: Every goal has to be measurable and have key indicators that can be identified to see if you are making progress toward that goal
- Achievable: Goals must be achievable
- Relevant: Goals should be aligned with your overall business objectives and future plans
- Time-bound: There should be a timeframe to meet goals to make sure it is a goals and not a dream
When you make sure your goals have these specifics to them, they are more attainable. You have the focus and clarity you need to see exactly what you want and when. You also have clear steps that are outlined to get to that overall goal of your business.
As a business, you should ensure that some of your goals fall within these categories:
- Sales target/growth goal
- Audience growth
- Community building
However, you may also have goals that have to do with your finances and budget, etc.
Create an Action Plan
So you have your goals all written out. Now, what do you do?
You need to create an action for each goal. This is what makes your goals achievable.
Since it can be difficult to decide where to start to break down your goal, a good rule of thumb is to break down each goal into steps, and within these steps, create separate projects. When creating this plan, you’ll want to anticipate the time it will take to do everything. It is better to give yourself more time and feel ahead than to try to go too fast and then feel like you are falling behind.
When creating an action plan, you should plan an entire day to do so. On this day, everything needs to be written out so that you have a clear plan and roadmap for where you need to go.
As part of this plan, you’ll also want to decide where you will fit in new plans that come into play. Will you ignore them until these are done, or will you write actions to achieve that goal? This is something you have to decide on this action-planning day.
As part of the action plan, you’ll want to incorporate okrs and cfrs.
How to Plan for and Actually Achieve Business Goals
Most businesses have goals. It’s the ability for those business goals to be met that makes one business stand out from another. With this guide, you should be able to set business goals and then achieve the goals through the creation of an action plan.
If you enjoyed reading this blog about goal-setting, be sure to check out some of our other blogs as well! Now, go get goal-setting!
Also read: 4 Small Business Management Tips for New Entrepreneurs
