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Business Goals Made Easy | A 9 Step Plan to Achieving Your Business Goals

business goalsAugust 20, 2011 -- (by Alex Work) Did you know that a staggering large number of small business owners do not set business goals for themselves and their enterprise? According to an Inc.com article that cited the 2009 National Small Business Survey over 80 percent of the surveyed small business owners don’t monitor their business goals.

Ouch.

Without a clear idea of where businesses are going, and the constant evaluation and monitoring that business goals require, how on earth can a business expect to achieve great results?

Having concrete business goals gives you a clear target to take aim at and solid plan of action to make these goals come to fruition.

Are you wondering if you are setting business goals correctly? Are you thinking of setting some new goals for your business?

There are three phases to setting and achieving business goals --

PHASE 1: CREATION

1. Have a Clear Vision of Where Your Business Goals Will Take You and Your Company. It can be demoralizing and frustrating to work for a company who has unclear business goals. When you aren’t clear about the direction is headed, your efforts begin to feel like for naught. Your business goals should reflect your company’s mission statement. After all, this business was created for a purpose, was it not? Revisit this mission statement.

2. Business Goals Need to Be Realistic. Unrealistic business goals will only make your staff feel directionless and inept. By all means create business goals that are realistic, but insure that there is a reasonable chance of it being achieved. This means you are going to have to be brutally honest about yourself, your employees and your business. What are you truly capable of?business goals

3. Create Business Goals that Inspire. What do you stand to gain from achieving your business goals? What does your staff stand to gain? Make your business goals a cause – “We are out to change the way that people think about tablet computing” is a powerful mission statement that can easily rally employees.

Make your mission something greater than profit, make it about change, and you will inspire yourself and your employees into making big moves quickly.

Phase 2: PLANNING

4. Understand Exactly What Achieving Your Business Goals Entail. Throwing out a random figure such as, “I want sales to hit $3 million for this quarter” without understanding exactly what is going to take to accomplish sets this business goal up for failure. And when such a goal fails – and almost all improperly thought-out goals will fail – it will demoralize yourself or your staff, and make management look incompetent and out-of-touch with the business. There should be a clear path towards your business goals.

5. What are the Resources You Will Need? Resources in this instance can mean a myriad of things – we could be talking about specific knowledge, financing, staffing, etcetera. List it all out, and plot what you will require at what points over the course of carrying out your targeted goals.

6. Break Down the Big Goals Into Manageable Chunks. Breaking down your business goals is imperative to its success. As an example, going from $10 million in sales to $150 million sales will require a significant amount of planning. This is where many people shy away in the goal setting process – the moment they are asked to actually show how their goal is going to be achieved they get squeamish about having to put in the work nececssary to show how things will get accomplished.

Embrace this opportunity – not only are you revealing the steps necessary, but you are building an incredibly powerful blueprint which you will have up your sleeve from here on out.

Phase 3: EXECUTION

7. Adopt a Spirit of Action. What is an easy way to do this? Have the first step of your business goals be something that you can do today. Not tomorrow, not next week, not next quarter. Whatever the change is that you want to see, whatever goals you have in mind there is no tomorrow. Only today. Infuse yourself and your staff with this spirit of action and eliminate the procrastination bug.business goals

8. Keep Your Business Goals Organized. This can be difficult when you consider that there are short-term goals, medium term goals, long term goals, plus the dozens of daily tasks that need to be completed. With this large “to-do” list it can be easy to get inundated or overwhelmed. For an annual goal, for instance, break it down into quarters, and then into months, and even weeks if possible.

This makes this big, greasy business goal a lot easier to swallow, and gives you and your employees focus on a daily basis. By having only the subsquent stage of the goal in front of them, instead of this huge, daunting  year-end shadow, they can concentrate solely on executing on the next step.             

9. Institute a System of Reward for Results. If it is your business, the financial reward of seeing your business succeed may be enough. But for your employees, what is the light at the end of the tunnel? Promotions? Raises? Reward your top performers. They deserve it.

Not having a system in place that rewards hard work and commitment to your business goals will encourage insubordination and decreased effort in the workplace.

Are you ready to take your Business Goals to the next level?

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