Goal setting is a popular topic this time of the year. Small business owners in particular are looking for a focus for the next 12 months, having spent the last few months ‘getting things done’ with little time for anything else.
But why spend time defining your business objectives if the day-to-day running of the business already takes up enough of your time? There’s no real purpose in it, right? Well, let’s see…
The Bare Necessities
Yes, I’m serious. I’m actually comparing setting goals for your business with your need for air, water and food (and chocolate, but that’s a separate topic).
I’m saying this because you might not have the time in the future, in case your small business doesn’t let you you come up for air long enough to make plans for the next week, let alone next month.
I’ve explained how to set your business goals before, but let’s have a look at why you should do it in the first place. What’s to gain from defining exactly what you want the future of your business to look like?
1. Grow faster
Knowing your long- and short-term goals is a great way to give yourself and your team direction. If everybody knows where they’re going, you’ll all get there a lot faster.
2. Stay focused
Having set targets makes it much easier to get organised. When things get hectic and you have to decide which tasks to prioritise, your goals are the perfect guideline.
3. Save money
Measuring results is a great way to ensure your marketing is on track. You can quickly change course if needed and adjust your strategy to keep losses to a minimum.
4. Grow customer loyalty
For your audience to experience your brand in a positive way, consistency is key. Focus on your goals and work hard to reach them, as this inspires confidence, builds trust and guarantees customer loyalty.
5. Accomplish more
A strategy built on realistic and specific business goals significantly increases your chance of success. You’ll be much more efficient if you spend more time planning, and less time doing.
6. Strengthen your team
Defining goals and subsequent strategies together with your team not only creates vision but offers valuable insight from the front line. If everyone pulls together, you’re pretty much invincible.
7. Stay motivated
Having goals gives you the opportunity to celebrate milestones, completed challenges and accomplished goals. Nothing is more satisfying and motivating than getting the bunting out and enjoying your achievements.
If you are interested in reading more about this topic, have a look at these:
How to Stop Your Business from Running You
How to Reach Your Small Business Goals – and Stay on Track
Goal Setting for Small Business Success
Time to Get Some Perspective?