Set Business Goals. Short, medium and long term goals. There is a saying “You can’t hit the target if you do not know where you are aiming”. Very true. Not having goals in place for a business is like being on a boat without a rudder. Depending on which direction the wind blows, you will hit a destination. It may be the right one or it may be the wrong one. It’s totally by chance. You do not have a sustainable business model if you are operating this way. Not setting goals is the number-one reason for business and executive failure.
I am a huge fan of goals and one of the best resources I have read for effective goal setting is ‘Eat that Frog’ by Brian Tracey. Setting and achieving business goals embraces every part of strategic and marketing planning. Business goals must be written, be very clear and specific. They must be measurable and exact. Your goals must be time-bound too. Ensuring that you meet all of these guidelines will provide you with the best possible chance to achieve your goals. Once you know what you want to achieve in your business, you are more conscious of the opportunities that will assist you to achieve your goals. If you do not know what you are trying to achieve these opportunities will pass you by.
You should have goals in place for key areas such as financial, marketing, your people, key result areas, products, services, client service, referrals, etc etc. You get the idea.
Refer to our article Target Practice for more information on the SMART principle of goal setting.