Everyone talks about the importance of setting goals both in your personal life and in business. Whether you’ve just ventured out on your own or you’ve been in business for many years and have a team behind you, setting goals is something you cannot ignore.
Goals are a roadmap that tells you where you are going and how to get there. Without them, you may find yourself going in circles, not being able to prioritize, not knowing if your business is indeed successful, perhaps eventually giving up.
Here are 3 reasons why it’s important to have goals:
1. Goals help you focus
When you set goals, your priorities become clear. Everyone in your organization will have a good sense of what they are working towards. Breaking it down further, you will now know what tasks to focus on – the ones that lead to achieving your goals. You will be less likely to be distracted by tasks that don’t.
2. Goals are a way to measure progress
Setting clearly defined goals will show you if you’re making progress towards improving, growing and becoming more profitable.
The key here is to create both short and long-term goals. Think of the short-term goals as the stepping stones to the long-term goals. Reviewing your goals periodically will show you what actions are paying off and which ones might need fine-tuning.
3. Goals are a source of motivation
There is nothing as satisfying as achieving a goal. It results in an immense feeling of pride. So it’s incredibly motivating. Working towards your goals is also a source of motivation. And when you’re motivated, you will accomplish your goals. Remember to celebrate your wins!
So how do you set effective goals? They should follow the rules of SMART goals:
- Specific – Being vague will make it difficult to know when you have achieved it. To be the best at something is hard to say when you have attained it. Breaking it down into smaller, more manageable pieces is best.
- Measurable – You can’t measure “best.” It’s important to make it something that you can easily track.
- Attainable – Be realistic that your goals are attainable. If you only made $20,000 in revenue last year, then setting a goal of $1M next year is probably not realistic.
- Relevant – Your business goals need to be relevant to your business. Ask yourself, if you reach the goal, will it have moved your business forward?
- Time-based – Making $1M is a great goal, but when do you want it to be achieved? Planning to achieve it in 1 year will have different goals than if it’s 5 years.
Setting smaller goals as milestones on the way to the bigger goal will light a fire and motivate you to get there.
If you’re struggling to set goals and priorities, contact us. We can help you get clarity, direction and results for your business!