This is the second part of an article on setting business goals that lead to success.
Take a day off. Enjoy a family outing. Schedule down time for yourself and your staff. If you’re working 16 hours a day seven days a week, your first goal is to take some time off to refresh yourself and to stay mentally and physically healthy.
Accept the heavy load.
Developing strategies to achieve business goals will, most likely, involve you – the business owner. Delegate the tasks you can, like research or assessment, but recognise that you’ll carry a heavy load as the business owner in both setting and achieving your goals.
It comes with the territory, but you’re up to the task. You’re an entrepreneur.
It might feel like things are going well, but you look at the numbers only to discover that you’re not maintaining a pattern of consistent growth quarter after quarter.
When setting a business goal, determine how you’ll know you’re successful. Measure, quantify, determine if you’re headed in the right direction – put some numbers next to each goal you set that define success and completion of that particular goal.
Let your staff in on the company’s latest set of business goals.
Draw feedback from employees impacted by changes in operations. Discuss “just-in-time” delivery goals with your vendor and shipper.
While charting the company’s course is, indeed, your responsibility as an SBO, achieving goals is a team effort, so let the team in on what your objectives are.
Provide stakeholders with the right tools to achieve business goals.
For example, one goal you might set is to achieve 25% more repeat business in the next 12 months. It’s specific, targeted, and given past performance, it’s doable.
However, if your marketing and sales staff don’t have the right software, or confusing brochures and other marketing collaterals, your company may not see the success you anticipate. Add client relationship management (CRM) software to enable service staff to track each job or each project to keep customers happy. And to keep them coming back.
If your goals have no end point, they may never be reached.
When creating a list of five to seven business goals, include achievement milestones, i.e. by November we’ll see a 15% increase in repeat buyers. If you don’t reach milestones on time, adapt and adjust. It’s possible your goals aren’t achievable.
This is a morale buster in the 1st degree! If your employees consistently miss deadlines despite all of their hard work, it’s demoralizing, which in turn, is counter-productive to achieving business goals.
Finally, reward success.
Bring in lunch on Friday. Close the office for a day to reward your staff with a surprise day off. Reward innovation. Applaud success, regardless of who’s responsible. Achieving goals is usually a team effort, so reward the entire team.
Conversely, don’t publically discipline an employee who fails to reach a goal. As I’ve said many times, praise loudly; criticize softly.
Goals provide a road map to business success. Create your map today. Then, work each day to reach your ultimate business objective – success!
You can read part 1 of this article in our previous post.