Goals change throughout the life of a business and what may have been the primary issue on your agenda in 2017 could be ticked off, resolved or no longer relevant.
Which means it is time to review your goals and assessing what you hope to achieve in the next 12 months and setting some new goals for yourself and your business.
Your goal should not only look at your business but reference to the lifestyle you hope to have, and the financial situation you wish to be in too.
Setting your goals will allow you to:
Set your future direction
Even the simple task of sitting down and nutting out what you hope to do with your business in one, three and five years time, assists in the clarification of what you should be doing this week or the next, providing you with a solid navigation point for the future.
Take for example a print shop: They identify the goal that instead of printing local business cards, letterheads and flyers, in three years’ time they hope to be printing banners, business cards and wedding invitations, shipping them around Australia, courtesy of an internet store.
That single goal allows them to set immediate milestones;
- This financial year they need to consolidate their figures to attain a loan for the purchase of new printing machinery.
- Next year they need to have a financial plan for that period between cash going out on an investment and new business coming in.
- They after they need to hone their website.
- They need to establish a national marketing plan.
The business can then set deadlines and milestones, which are the further goals for reaching their success.
Measure your success
Goals may allow you to progressively shoot for the stars, but they also allow you to chart your progress along the way. They enable you to measure whether something is working and to devise strategies when it’s not.
With clear goals it’s about breaking down the tasks that get you where you ultimately want to be. And when these goals are translated to staff through systems, procedures and KPIs, it allows you to take your team on the journey with you, celebrating the successes along the way.
Attain your dreams
No ship sets sail without a destination and without knowing the ports of call it needs to stop at along the way. And it’s the same in business. Whether your destination is handing your business to your children, selling it, running it profitably under management, or expanding it, you need to know where you’re going to get there. Then you can stop at ports like an annual holiday, sufficient staff, and paying off business loans, running your business with clear direction instead of it running you.
The Business Life Planner Linda and I have created is packed full of tools to help you with your Goal Setting in 2018!