Much like using a business plan, setting goals is an essential part of your business. Without them, you have nothing to measure how well you're doing and it will be difficult for your business to thrive and grow.
However, setting the wrong goals can be just as detrimental to your business as setting no goals at all.
By "wrong" I mean goals which are vague, unclear and not thought out properly. When you set targets for your business, you should be using the SMART formula. Which is both an acronym and an accurate description of business owners who use it to set their goals (ba-dum-tss).
So what do your goals need to be in order to help you?
Each goal you set should be specific and focused. Think about what you want to achieve, why you want to achieve it, who will you need to help you and which resources you will need.
How will you track your goal; when will you know that it's been successfully accomplished? Think about numbers - how much will you sell? How many people will you reach?
You have to be realistic about your goals, otherwise you're setting yourself up for a fall. Think about how you will achieve your goal and whether there are any threats which could prevent you from doing this, for example financial issues or time constraints.
Do your goals align with the plans you have for your business? If not, then they aren't relevant.
Finally, all goals should have a target date to be completed by, otherwise they tend to be forgotten about and not prioritised. A time-bound goal also means that you can plan the time spent working towrds your goal ccordingly.
Do you set SMART goals for your business? Leave a comment and tell me!
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