To make small business Goals, Write them down and make them happen.
Are you a small business owner with big aspirations? I am, too, but when I set my business goals, they were so secret that I couldn’t remember them. Sharing your goals can only happen if they go from head to paper.
It’s time to step beyond daydreaming and take decisive action. By writing down your goals and committing to a clear plan, you’re not just setting a course for your business but taking control of its destiny. This act of empowerment can transform your business from surviving to thriving. Here’s how to cut through procrastination and plan strategically for success.
Goals need a purpose; for some, as retirement is approaching, they should include goals related to exit planning, beaches, and golf.
The Power of Strategic Goal Setting for Small Business Goals
For small business owners, every day is filled with demands. Regarding strategic planning, it’s easy to say, “I’ll do it tomorrow.” But procrastination is the silent killer of progress. Writing down your goals does more than commit them to memory—it commits them to reality. Set clear, actionable objectives with defined timelines and watch your daily decisions align more closely with your long-term aspirations.
Accountability: Your Strategic Advantage
Navigating the complexities of a small business can be daunting, but you don’t have to go it alone. Establishing a relationship with an accountability partner like a coach or mentor can dramatically increase your chances of success. They’ll help keep you focused, track your progress, and ensure your business meets and exceeds its goals. This support system provides guidance and instils motivation and determination, pushing you to move forward.
Planning your exit strategy early and realising that everything has an expiration date are part of the goals setting for small business.
Thinking about an exit strategy early in your business journey might seem premature, but it’s vital to your overall strategic plan. Planning for an exit three years down the line gives you a clear timeframe to boost the value of your business, streamline operations, and ensure you can leave (or sell) on your terms. This foresight prepares you for the future and brings a sense of security and peace of mind, knowing you’re ready for whatever comes your way.
Take Action Today: Let’s Build Your Future Together. How far out should you set your goals?
A procrastinator would say a long time, but it’s really 12 months for some action. In reality, the best timeframe for setting goals—whether 60 days, 90 days, or a year—depends largely on the nature of the goals, the specific context of the business or personal objectives, and how the milestones are structured within that period.
So, in setting goals, consider this:
60-Day Goals
These short-term goals are useful for very focused, specific achievements that contribute to larger objectives. This timeframe is ideal for tasks that require quick results or when starting new initiatives that need to gain momentum quickly. Sixty-day goals encourage rapid progress and frequent reassessment, making them ideal for responsive and agile environments where conditions change quickly.
90-Day Goals
Often referred to as quarterly goals, 90 days is a popular timeframe for businesses and individuals because it balances the urgency of short-term goals with the foresight of longer-term planning. This period allows enough time to see significant progress on somewhat complex projects without losing the momentum that can dissipate with longer timelines. It’s also a practical period for iterating on feedback and adjusting strategies.
Yearly Goals
Setting goals for a year is common for strategic planning because it aligns with financial and business cycles. Annual goals are suitable for more significant, ambitious projects requiring a longer runway. This timeframe allows for the deployment of substantial resources and the alignment of multiple smaller projects under a larger umbrella, providing a clear vision of where you want to be at year’s end. It also matches the evaluation periods of most businesses and personal planning cycles.
Choosing the Best Timeframe
To decide which is best for you, consider the following:
• Complexity and Scope: If your goal is complex and requires coordinating many moving parts, longer timeframes might be necessary. Simpler, more direct tasks might be effectively accomplished in shorter periods.
• Urgency and Priority: How critical is the goal? If it’s highly urgent, shorter timeframes can create the necessary focus and intensity needed to drive actions.
• Feedback and Adjustments: If your project or goal benefits from iterative feedback, shorter cycles like 60 or 90 days could be beneficial as they allow for quick adjustments based on what is or isn’t working.
• Resource Availability: Consider your available resources, including time, money, and personnel. Some goals might require extensive resources that are only feasible over a longer period.
Ultimately, the best timeframe for your goals will depend on balancing these factors with your specific circumstances and end objectives. Often, using a combination of all three—setting immediate, short-term goals within longer, strategic plans—can provide both the motivation of quick wins and the guidance of steady, long-term vision.
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The right place and time.
I like to escape and think about my small business goals. A coffee and a notepad are all I need. Amazingly, I have set goals in various forms, from a vision board to a set of goals in categories. And you know, I can say I have achieved many of them every time.
Money money money
Like any small businessperson, getting money in the door is the oil that oils the wheels of your business. So, your small business goals should be macro and broad and include a goal for achieving a revenue target.
Can you get through your business journey without goals? Of course, and by a stroke of luck, you might do okay. But those who commit to achieving are the lucky ones who reach the finish line with the amazing inner glow of what they have achieved.
Embarking on a business journey without specific goals might work out fine, and sometimes luck might even swing your way! However, those with a dedicated commitment to their objectives not only cross the finish line but do so with a radiant sense of accomplishment and a brilliant inner glow from what they’ve achieved.