Whether your goal is to be the best in business, or to attain a work-life balance, you need to have a clear objectives to run a prosperous business. This is reached by setting targets. Here are eight tips to help you get a head-start.
Why Set Goals?
It’s not easy operating a small business. It’s common for business owners to expend a huge amount of energy making sure their businesses are successful. Setting yourself goals helps focus your attention on the areas that enable your business to be successful. They can help give you assurance that you’re on the right track.
On the other hand, if we don’t have goals, it’s easy to get stuck in a rut, or lack purpose. We accomplish less than we are really able to. Trying to get by without goals is like going fishing without lures or bait.
Eight Ways To Set Business Goals
1. Revise Your Business Plan
Knowing your field, your competitors, the challenges and the opportunities, is vital to be able to set reasonable targets. It’s therefore worth revising (or preparing) your business plan first.
2. Be Concise and Precise
Incorporate figures, statistics, and timelines. If the goals you set are ambiguous, how will you establish whether you’ve reached them or not. Rather than “I will improve my product” write “I’ll set aside four hours every month dedicated to generating ideas and product development”.
3. Set Deadlines
Deadlines help to motivate, and put a stop to procrastination. It isn’t a goal unless there’s a clear timeline or date to complete it by.
4. Monitor Progress