Did you know that the majority of start-up businesses fail within their first 5 years? According to experts, a large reason behind this is the fact that many business owners fail to plan ahead. Without adequate planning, it’s easy to lose direction and become overwhelmed by the day to day running of the company. That’s why setting goals is extremely important.
"The price of greatness is responsibility." - Winston Churchill
Like personal goal setting and achievement, business goals help you to propel the business forward, helping it to succeed. No matter which part of the business you’re looking to improve, the right goals can really help you to take your business to the next level.
Without goals, you won’t know which parts of the business to focus on in order to get the results you’re looking for. So, you’ll likely end up stuck in a rut, not really achieving anything of significance unless you have realistic, measurable goals.
Business goals also help to hold you accountable. You could have a vague goal in your head that you are working towards, but unless you write it down and monitor it, you’re unlikely to reach it. When left to our own devices, we’re often not as productive or as motivated as we could be. So, having clear goals helps to keep our focus and mind on the tasks required to push the business forward.
These are just some of the reasons why setting goals in business is crucial to your success. The thing to remember is that goal setting isn’t just a one-off thing. You need to continue to set goals once you’ve achieved those initial ones. That is how you ensure your business doesn’t just keep running, but that it thrives.
Looking for the best ways to set business goals? If you’re keen to get started, but you’re not sure how to go about it, there are a few easy methods you can try out.
Remember, what works for one business may not necessarily work for another. So, you may need to try out a few different methods before you find the one which works for you.
Here, you’ll discover some easy methods for setting business goals you might want to try out.
S.M.A.R.T BUSINESS GOALS
There are a lot of different goal setting methods out there, but one which has proven the most successful is the SMART method. This stands for:
Specific
Measurable
Attainable
Relevant
Time Bound
Every business goal you set should follow the above rules. All goals should be specific and measurable. They also need to be attainable, relevant and have a specific time frame for completion. If you follow this method, you’re likely to see excellent results.
BREAKING DOWN YOUR GOALS
An easy way to figure out which goals to focus on in business, is to break them down. If you’re struggling to come up with specific goals, then this is definitely the method you’ll want to try.
Start by writing down your main goals. These don’t need to be specific and will in fact more than likely be pretty vague. Then, once you have your overall goals, it’s time to break them down.
Think about what you’ll need to do in order to achieve your overall goals. Write down the smaller steps required in order to meet your overall goals. The more you break them down, the easier they will be to achieve.
REVIEW YOUR GOALS
When it comes time to set new goals, it’s a good idea to review your old ones. What worked and what didn’t work? Did you complete the goals you set? If not, work out why not.
By reviewing your old goals, you can learn from anything that cropped up to prevent you achieving them. This will enhance your chance of success with the new goals you set yourself.
Don’t forget – the goals you set now should also be easily reviewable. All goals are a work in progress, and they often need to be tweaked in order to prove effective.
PHYSICALLY WRITE DOWN YOUR GOALS
With so much technology available at our fingertips, it’s easy to set business goals digitally. It may seem more convenient to type your goals out on the computer, but did you know you’ll have more chance of success by physically writing the goals down? It’s a good idea to invest in a physical goal planner. If you look at the most successful business leaders in the world, you’ll find the majority use a physical goal planner to help them stay organized and connected to their goals.
HAVE A POSITIVE OUTLOOK
When you’re setting your goals, you’re going to need to make sure you have a positive outlook about them. That means, you feel they are achievable, and they will help your business to succeed.
The more passionate you are about the goals you set, the more likely you’ll be to achieve them. Don’t make the mistake of setting a goal which involves something you hate doing. If you do, you’ll find it easy to put it off and ultimately fail to achieve the goal.
There are a lot of methods you can use when setting goals for your business. However, the ones above are definitely proven to have the most success; especially when you’re just getting started. It’s a good idea to try out a few different methods in order to see which one works better for you. Get started today!
-Coach Jo