This blog post was first published on 21 March 2014 and was last updated on 3 January 2018.
Whether you’re looking for a big shake-up in your business or want to set some tactical goals for the coming tax year, this is a great time to take a fresh new look at your business. But what are the best ways to decide upon - and, ultimately, achieve
- these targets? Here are some tips for setting goals for your business.
It’s easy to have a rough idea of what you’d ultimately like to achieve, but unless you understand the current state of your business, you may not have a complete understanding of what opportunities (and threats!) are out there. Try
carrying out a SWOT analysis of your business to
understand what your strengths and weaknesses are. Then, you can make an even better decision about where you’d like your business to go.
When you think about what you’d like to achieve in your business, think about using the
well-known S.M.A.R.T framework to get the most out of them. “Smart” goals are Specific, Measurable, Attainable, Relevant, and Time-bound, which not only helps you pin down exactly what you want, but exactly how you’ll keep track of your progress.
an app that manages your smart goals for you.
When you’re setting new targets for your business it’s great to aim as high as you can, but it can also be important to break those big goals down into smaller, more achievable steps. So rather than setting your sights on a single, all-encompassing ultimate
goal, think about how you can turn that big vision into
a number of smaller goals - then, you can build up to your ambition, step-by-step.
Setting goals can be a great way to motivate you and focus your efforts, but if you’re only looking at whether you achieved them or not, you may be losing out. This
article from Inc explains how people can often feel like they’ve failed if they don’t complete a goal they’ve set, even if they’ve made huge strides towards it. The article suggests that instead of just setting a target, you may want to focus on the
systems you put in place to help drive your work forwards, as well as
tracking the actual progress you’re making towards your overall goals.