Goal setting in your business

Goal setting is important for your business because it allows to see the progress that you are making and give you something to aim for. It allows you to focus on getting those results that you are after!

It can be a challenge for some people to set goals so I have written this blog to share the best tips and practices that I have used as a business owner that has helped me to make my goal setting more manageable so that I can stick to them in the long run.

What is a goal?

A goal is something that a business owner hopes to accomplish over a specific period of time. The owner usually outlines their goals and objectives within the business plan and this ensures that everyone is on the same page and are all working towards the same goal.

Having a goal gives a business direction and helps it to grow and achieve its objectives. Goals can be set for many parts of your business including customer service departments, financial aims and even an aim of where you want to be in years to come.

Why should we set ourselves goals in business?

There are four main reasons that a business sets goals and objectives:

1. Measuring success – Most businesses will constantly be wanting to improve and grow, to be efficient and to be the best in their industry. Setting yourself a goal and a deadline will be a good way to measure the success of your business.
Even if you don’t want to be the best in your industry, setting goals to measure success is still an important part of running a business.

2. For the Leadership Team – When you have a leadership team in place you need to be able to be sure that everyone is working towards the same goals and objectives. This ensures that not only your business is a success but so are the team that you have in place to run your business when you’re not there.

3. Knowledge and Understanding – By setting goals, not only will you know where your business is heading but any employees your have will know the goals that your business is working towards. This makes it easier for all involved to make daily decisions that are for the benefit of the business.

4. Reassessing – If your business isn’t heading in the direction that you want it to be, it may be that you’ve set yourself the wrong goals and something needs to change. Reassessing your goals from time to time can keep you on track.

What can go wrong?

Things can go wrong for your business if your goals aren’t planned out correctly. Most of the time this will happen if you have done one of the following:

1. Set yourself unrealistic goals. Sometimes business owners like to challenge themselves but at times it can be these challenges that cause us to fail. Setting unrealistic goals could be damaging to your business and these goals become unreachable. Realistic goals are needed to ensure that you and/or your team can achieve them.

2. Setting goals that are too vague. If our goals are not specific enough and they are too ambiguous for us to know where we are heading in our business, it leads to us not being able to take action in our business which stops us moving along in the right direction and so the process of goal setting has been a wasted task. Ensuring that our goals are specific helps us to track and observe the daily progress we make towards achieving them.

Next week, Empowered VA Services will be sharing ‘How to Set Goals and Stick to Them’

Goal setting in your business
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