Goal Setting – Are You Being Strategic?Posted: February 24, 2015
Every business owner, regardless of how big or small their business is, needs goals to keep their business moving forward, their employees motivated and to maintain momentum. There are many different approaches to goal setting, and each one can be as successful as the next.
As a business owner you should define short and long term goals, and establish a plan for how to get there. Goals set for your business should align with your personal goals, and be fueled by a big-picture, forward-thinking perspective. Without strategic goals, you may struggle to find the path from where your business currently stands to where you’d like it to be.
I’ve put together some goal-setting tips that should help you achieve even your most ambitious business goals!
Tips for Goal Setting
Determine who you are and where you stand. Determine what strengths, weaknesses, opportunities and threats may be helping or hindering you from reaching success. Ask yourself why you began the company — does that old spark still drive your business as it is now? Revisit your personal vision and reflect on how your company has evolved.
Write your goals down. Putting your goals in writing and sharing them with your team confirms your commitment to achieving them. While brainstorming is a great place to start, without writing down your goals your focus will fade. Force yourself to focus by outlining specific goals you and your company can work toward.
You may even find writing your goals down to be exciting! In my experience, goal setting brings out the optimism and ambition in myself and my colleagues, and acts as a reminder of how much good we all have to look forward to.
Have realistic expectations. Setting unattainable goals won’t lead you to success, and it certainly won’t give you the motivation needed to get there. Goals should be attainable through hard work and effort, and focused around the most important aspects of your business. The goals you set should challenge you and your team.
Establish milestones so you can track and measure success. By failing to plan, you are essentially planning to fail! Think about short and long-term success, and visualize what will help keep you and your team motivated. Have a schedule and set monthly milestones so you can track whether or not you are accomplishing the things you wish to. While tracking your success (or failures… because it happens!) you will be able to see what roadblocks lay ahead, and how you can get over them to come out on top. Once you reach a milestone don’t forget to celebrate!
Think of how your goals affect your whole team. While goal setting, be tactical and set goals for individuals, different departments, and the business as a whole. Have employees contribute their knowledge and ideas when goal setting to help keep goals realistic and attainable. Sharing goals with the whole team can encourage team effort, and a sense of responsibility.
Know your plan of action. Create a plan that supports your specific goals. When reviewing your plan be sure to think about how you will tackle issues as they occur, how issues will affect the team, clients, stakeholders, and whomever else is connected, and whether or not you are clinging to goals that no longer make sense for your business.
Fear of failure should never hold you back from setting goals and reaching for them! Effective and strategic goal setting will allow for individual accountability, and most importantly, will help keep your business aligned with your vision, and on the track to success.
Do you have short and long term goals set for your company? Do you feel like your goals are attainable and motivating? Tell me about your experiences by commenting below.