It seems like personal New Year’s resolutions are made with good intentions but are easily broken, as many people drop their goal of improving themselves within a few weeks of making the resolution. Small business owners often take a similar approach in January, re-examining their goals and determining new ways of reaching them. Goal setting in business is a proven method of succeeding no matter what type of business you are in. Taking a measured approach to goal setting and following up regularly will keep you on track to meet or exceed your goals. When you make resolutions for your small business this year, you should create an action plan for achieving them. Read how to develop and keep this action plan on track without breaking your resolutions.
Create SMART Goals
Resolutions or goals for a small business should be SMART goals. SMART goals are:
For example, you shouldn’t just say, “I want to earn three times as much in 2017,” without a plan to get there. Breaking down your goals into bite-sized steps makes them easier to achieve. Create goals that can be measured so that you can track your progress. Give yourself a time limit to achieve your goals such as by the end of the year. If you take the time to create SMART goals, you will have a much better chance of achieving them.
Tweaking Goals is Not Breaking Goals
Goals, while having an end point, can be changed, adapted, or tweaked. When setting goals at the onset of the year, you may not be aware of influences or events that will occur later on. These events may change the course of your plan because priorities have changed, suppliers have not delivered, or another product is in demand. If you are meeting to check your progress against your goals on a regular basis, you can monitor whether you need to tweak your goals or strive harder to reach them.
Focus is Key
Having a weekly meeting to discuss progress towards your business goals will refocus yourself and your team towards achieving your goals. This also gives everyone an opportunity to seek help on issues that are preventing progress. By keeping meetings short and discussing the successes and problems of each week, your entire team will be able to help each other complete tasks in order to achieve the team goals.
Georgia WebMBA at Georgia College can help you gain a competitive edge when it comes to accomplishing your goals. Learn more about the benefits of an MBA here.