Setting and Defining Business Goals

In order for your business to be successful it’s important to set and define clear goals and targets

This gives you something to aim towards and helps to drive your business forward. These goals and objectives should be a combination of short term targets which need to be met, and much bigger long term goals which achieving the smaller targets can help you to work towards. Here’s TNT’s advice for how to set and define clear business goals to help you improve your business:

 

Outline a strategy

Identify exactly what it is you want to achieve and that way you can make a strategy to work towards it. Whether it’s more probability, innovation or further development, each of these goals require a different strategy in order to be achieved. Incorporating these goals into your wider business plan is paramount to your success and they should be integral to all business decisions made going forwards.

 

Long term goals

Your long term goals should be part of a large business plan and where you see your business heading in 3-5 years. Once you outline exactly what it is you want to achieve in the long run, you’ll be able to set little steps and targets to meet along the way which will help you to achieve them. Long term goals are usually focused around expansion, whether that’s to do with increased recruitment, trading internationally or expanding your product offering. Figuring out what type of expansion would best benefit your business in the long term is the first step.

 

Make them measurable

The best way to see whether or not you’ve achieved a goal is by making it measureable with figures. If you can put a numerical value to an objective, it’s non-negotiable when it comes to looking back to see whether you’ve achieved it or not. Making a goal measureable also means you can look back and see progress, helping you to monitor the direction your business is heading in and be aware of anything that is preventing you from achieving your wider goals.  If you want to double the number of sales over a 2 year period, break that down and see how much you need to increase sales by each month to make your targets more measureable.

Be flexible

Your goals have to be clear and achievable so allowing for a little bit of flexibility is vital. Be careful not to mix up flexibility and not meeting targets though. For example, if you plan to double your number of staff by a certain date and that date comes round and you’ve only managed to increase that number by one quarter, then work out why you haven’t met the target and set a new date that it has to be achieved by. There’s no excuse for not meeting targets and then letting them pass by, as all your smaller targets are contributing to your long term goals which are more abstract and flexible.

 

By using the strategy of outlining all your smaller targets and smaller objectives as stepping stones towards your wider goal, you’ll be constantly striving towards achieving your ultimate goal. Fully integrating your goals into part of the culture of your organisation means that all members of staff understand why targets are set and the right reasons for achieving them, helping to give you an all-round greater chance of reaching your overall goals much faster than you may have planned.

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