With the new year just a few weeks away, it’s time to look at business goal setting 2018 edition.
Setting goals for your business each year is an important part of business planning. In fact, studies have shown that people who write down their goals are more likely to achieve them. You already know that goals need to be specific, measurable, attainable, realistic, and time-sensitive, also known as “SMART” goals. But, how do you choose which goals to focus on each year – or anytime for that matter?
This is something I’ve been thinking about a lot, as I look at my own business and what I want to do with it in 2018.
The reason that business goal setting is important is because if you don’t know where you want to go, you can’t possibly set up a realistic plan to get there. If, however, you know what to focus on, and you know what your end goal is, you’ll be better able to define your goals adn a pathway to achieving them.
If business goal setting feels daunting, consider using the strategies I’ll share with you next; these are the same ones I use in my own business goal setting process.
The first strategy is that I work in 90 day timeframes. I only try to plan my business in terms of quarters – first quarter, second quarter, and so on. This enables me to adjust my strategy and approach as frequently as every three months. This keeps me agile and fluid as my business changes or the market does.
The second strategy is to have three core goals to start- and only three. Achieve one and then add another. Sticking with three business goals at a time keeps you focused and makes sure that your ideas are being implemented.
The third strategy is to focus on what you do best. Your business is easier to run and more profitable if you keep offering what you’re good at. Most businesses run on a core set of “bread and butter” services or products- so be sure you keep offering those. This can stabilize your income and build upon your existing reputation.
The fourth strategy is to organize goals by priority. There are some goals which are crucial; those should be addressed first. Others would be “nice to reach”- those can come later.
The fifth strategy is to track your efforts. How are you doing as far as making progress on your goals? Ideally, you’d have a way to see your progress so you can stay motivated.
The sixth strategy is to let go of what isn’t working. This can be a tough one; as we all get attached to the plans or projects we’ve invested in. Yet if you have been putting in a lot of resources, yet aren’t seeing the results; deciding to stop doing that thing can free up a lot of energy and focus.
So, if we put this business goal setting plan all together, here’s what it looks like:
- Select a 90 day timeframe.
- Pick three core goals.
- Prioritize them.
- Make sure these are within your areas of expertise.
- Decide what you will no longer do because it’s not working.
- Set up a way to track progress to your three goals.
Using this simple process will help you plan a profitable 2018, and keep you focused and on target to reaching the goals you set.
Do you have some questions about marketing your business online but don’t know who to ask? Why not ask me? I can help you with both strategy and implementation to make your business more profitable and more popular. We can do this together in 75 minutes; though my whiteboard session. Learn more about it!
