Setting Goals 2015: 3 ways to improve your business

Setting Goals for your business

We are now into a new year. For many of us the excitement has already worn off and we are now focused on the list we made of things we hope to achieve. In some instances it is a very long list, but …what is on that list as it pertains to your work and business goals?

Setting goals is an important part of preparing for growth and success, whether you are a small business owner, entrepreneur, freelancer, self-employed or whatever you label yourself. As such, this is an opportune time to set goals that will result in success and begin working to bring them to fruition.

Do not set your goals without examining these three (3) areas and if your have not addressed them, then take a look at your list again as they are important and could mean difference between success and failure this year:

1. Aims / Objectives

re-examine your aims and objectives. Are they still as relevant to you now as they were when you first made them? Be specific about what you hope to achieve. Sometimes it is even necessary to rewrite or amend them – think about it… do it now!

If you do not have any objectives laid down, now is a good time to start making a few – you can add more later.

Having aims/objectives makes it easier to work towards achieving a goal and succeeding at what you do.

Examples of some short term objectives:
– increase google ranking to page one for your chosen keyword within a year
– increase website visits by 200% by March 31st
– reorganise customer service response system so as to respond to customers queries within 24 hours

Always attach a time limit to your goals.

Keep your word in business

2. Keep your word

this is important. It is a very competitive world and whether you are a business owner with one hundred employees or a self-employed freelancer, your word should be your bond. When you make a commitment to your client or customer, deliver on your promise! If there are mitigating circumstances that interferes with getting things done, then inform them in a timely manner, offer alternatives where feasible and of course apologise. This is how you build trust and encourage clients to recommend you to others and your reputation and business will benefit from it.

Promote your business

3. Promote

promote, promote, promote! I cannot say this enough. Get out there and use all the free resources available to you. Create a website, blog and social media accounts (Facebook, Twitter, Google+, LinkedIn, Pinterest, Stumbleupon and any other you think could increase your exposure). Create videos on Youtube, use email marketing – there are a number of free email marketing tools to assist with sending newsletter to customers and potentials about your new product or service. Create business cards, carry them with you and issue them where and when you can.

While a number of others could be added to the list, if you focus on these three areas you should see improvements.

Many people want business success, but with an ad hoc approach they rarely see results. Organise yourself, keep your goals in mind and make a renewed commitment to work hard at achieving your goals this year.


Business Goals

Create SMART goals

Business goals are embodied in its plan. What are these goals that businesses need? Simply, business goals need to be SMART.

S -pecific

Set specific goals for your business. Don’t just say, I want to improve profits next year or I want to increase sales. State how much you want profit increased by, so a plan that states that I want a 10% increase in profit or a 300 units increase in sales volume is far better. When you don’t have specific goals you will have nothing to measure against.

M -easurable
Your goals must be measurable. Therefore, if you want to achieve your goal of 300 units in sales within 12 months then you need average sales of 25 units per month, you can measure in smaller stages to achieve a bigger goal. You should have a method in place for achieving this, maybe you need more material, new equipment, more employees or you need to re-assign work tasks.

A -chievable

It must be possible to achieve your goals. Therefore your goals should be within reach, if not, you are setting yourself up for failure and disappointment. If you are a newcomer and the industry’s average sale for the top business is 200 units per year, how likely is it that your sales would be 300 units for the same period?

R -ealistic
Goals must be realistic. Realistic goals are challenging, but attainable. Mind you, there need to be optimism, but within reason. You have to be willing to work towards accomplishing your goals or it will not be achieved.

T -imely
Every goal must be set to a specific time period. This will help you to measure your progress and keep you on the necessary path.

Your SMART business goal must answer the… What? Why? Who? When? How? Questions.