Entrepreneurs…. Have you had a Business Coach or Accountability Partner that has asked you if you have set your business goals? Is your reply “why? I know what needs to be done, why go through the process of writing them down!?”
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The usual response from our Business Coaches/Accountability Partners would be – by not taking the time to set your goals, you are doing a big disservice to your business.
Sorting out your business goals doesn’t have to be difficult- it could start out as a simple vision you have, or could get as thorough as seeing where you want to see your company in 1 year, 5 years or more. It may seem silly to think about these things, even the short term goals. But, it definitely helps you in keeping on track and by creating ways to measure your progress.
Here are 5 Great Reasons Why You Need to be Setting Business Goals:
- It’s simple, it provides direction! It allows you to figure out how to get to the finish line when implementing different expansion efforts in your business. It will help you be able to bring it down to simple steps to know how to phase out your projects to ensure that you don’t a) get overwhelmed b) miss any steps along the way.
- Gives you control on your future – very similar to the last point. It allows you to know where you want to end up – like mentioned before, sometimes your short term goals are stepping stones to the long term goals you have. Be it Revenue Goals, product launches or Service Expansions to your clients. You are in the driver’s seat with Goals.
- Motivation – a key mindset consideration. By goal setting, you are creating a motivation to get through even the smallest of tasks (that may seem unnecessary). It also allows you to create your to-dos each day and complete them with gusto!
- Creates Employee Engagement – by implementing goals, you not only will keep yourself on task but that of your staff. By giving everyone an endgame, it does help even through the most difficult of times to know that all the blood sweat and tears do have an endgame.
- Evaluation/Measuring Performance – by setting goals, you are creating markers of which to evaluate any of the programs/launches by. To figure out what was working, what needed tweaking and what worked great! This allows you to maintain quality in anything your business outputs.
So these few reasons, just the start of the reasons I might add, are ways that prove that by implementing goals in your business you will assist yourself in its success. Talk to any other professionals in your industry if you struggle on how to set goals. Maybe their experience will assist you in knowing how to roll them out or give you a perspective on your business you didn’t even think of focusing on!
With implementing goals – what did you discover about your business?