Have you set your company goals for next year? Goals are a great way to make sure you get all that “other stuff” done. We get so wrapped up in the day to day of running our business
that we forget to take a step back and look at the bigger picture. If you haven’t, don’t worry. Now is a great time to put your mind to it.
We are on the wind down to Christmas. Our clients and customers start to take time off and close for shop the holidays. So it’s a good time to think about what you want to accomplish during the next year.
It’s also a good idea to set your goals before the beginning of the year so you can hit the ground running in January rather than trying to set your goals in January and already being a month behind.
So how are you going to set your goals…… well I’m a finance geek so that is where my focus lies. You don’t have to set all of your goals to be finance bound but I’d suggest that a number of them are. With a good eye on the finances other things will often fall into place.
Remember to make your goals SMART
- Specific – Don’t write down a goal of “to make more money.” Not specific enough my friend. “To make an additional $10,000 profit in 2016” is a much better goal.
- Measurable – How are you going to measure this? $835 per month or perhaps you know your business has seasonal changes. If you typically make more money in May, June and July you may look at making $1,200 in each of those 3 months and $575 per month during the rest of the year.
- Attainable – how many new clients will you need to hit this figure? Or how many additional sales will you have to make. If you have to tripple your client base month on month, your goal may be out of reach. You want to have to stretch to reach your goal but it must still be realistic.
- Relevant – Losing 30lbs is a great goal to have but unless your business is in the weight loss or fitness world it probably isn’t relevant.
- Time Bound – You put in your goal that you are going to hit your target in 2016. Great you set a time limit for your goal. If you have an annual goal like this one, break it down into sub goals to make sure you stay on target and keep focus. We humans often start with good intentions but the novelty soon wears off and we lose track of our path. Set monthly goals to help you achieve your bigger annual goal.
Ideally you should have a set of short-term, mid-term and long-term goals and they should complement each other. Of course written goals are only useful if you have an execution plan attached to them. This should really be just an add on to your already well thought out goals. For instance if you already know you will need 3 more clients each month to hit your goal, how are you going to attain those clients? Do you need more advertising and promotion or would a referral program be a good option.
Whatever your goals end up being, having them in place will give you more confidence and a strategic plan in place to make sure that 2016 is your best year yet!