Let me start with a question.
How thoroughly do you plan your holidays?
Most people are quite thorough. You know your destination, the local currency, times, dates, transport and itineraries. Why? Because you want to plan ahead to get the most out of every day.
But are you this thorough with your business?
Probably not. Don’t worry – it’s very common amongst business owners.
From my experience as a Business Coach, most business owners guess their way through and trust their gut, rather than sit and make formal plans around setting goals and how best to accomplish them. Why? Because it can be a daunting and intimidating process, especially when creating a business plan.
However, it doesn’t have to be this way.
Goal setting and business planning can be a fun and rewarding experience when you know how to do it right.
That’s where I can help you! Let me share some tips that will guide you towards designing compelling goals and strong business plans for your success.
Why you need business goals and plans
Before we begin on the “how”, let’s quickly establish the “why”.
It’s hard to commit yourself to building a business plan if you don’t see it as something that will help you. While you don’t need to map out every second of every day, making space for a few well-chosen goals and relevant business plans can make a big difference in shaping the success and long-term growth of your organisation.
They give you direction, purpose and a sense of aspiration. They also serve as a benchmark on progress and ensure that you’re not sitting in neutral or guessing your way through.
As cliché as it sounds, if you fail to plan, you plan to fail. It’s just the truth.
However, not just any business plan or objective will do. Let’s discuss how to make the most of this process to deliver results you’ll actually notice.
How to effectively design goals and plans for your business
You’re probably thinking:
“What kind of business goals do I need?” “Is a business plan 10 pages or just 2?” “Where do I even start?”
Working on your business goals and plans always seems more complicated than it actually is.
With the wide range of advice and templates available online, I can’t blame you for feeling a little lost and confused. But you don’t need to overthink! I’ve compiled a simple list for you to follow that will help you get from where you are to where you need to be:
- Be specific with your goals.
Start by identifying the things you want to achieve in the next one, three, five or ten years. Knowing and understanding your goals gives you overall direction and motivates you to take necessary action.
Do you see yourself hiring more people? Does your vision include expanding to different locations? Do you aim to double the income of your business? Or do you want to launch a new product range?
Start vague and then sharpen them over and over to make them specific, measurable, attainable, relevant and time-bound (SMART).
- Don’t let your goals slip your mind
It’s one thing to set goals but if you forget them or they fade into the background, then it’s not worth having them at all.
To stay on track, write your goals out and post them on visible places like desks, computer monitors, walls or bulletin boards. This means you’ll be reminded of the bigger picture and they’ll anchor everything you do.
It’s also helpful to state goals positively like “Our business will experience an 80% increase in sales!” and “Our team will secure the partnership with [XXX] brand within this quarter!”. This will enable your team to be more driven and action-oriented.
- Be aware that big success is an accumulation of small successes.
Have you heard of the Japanese word, “kaizen”? It means continuous, incremental improvement over time leads to revolutionary change.
As you establish actionable plans to achieve your goals, it’s important to remember this concept. You don’t need to transform your entire business overnight. Instead, work on making gradual improvements through consistent effort today and you’ll get there.
- Review your progress monthly.
Are you still in line with your goals?
Performing monthly evaluations is important to determine if you need to make adjustments to your plans. Never skip this step as it allows your team to monitor their responsibilities and keep you on track.
- Celebrate your wins!
Once you’ve reviewed your progress, you might discover that you have reached a milestone. This is your cue to reward yourself and your team for a job well done.
To keep everyone’s spirits high, make sure you appreciate every accomplishment – no matter how small – before you start making new plans and setting new goals for your business.
- Don’t forget to hold yourself accountable.
But what if you don’t hit the results you were aiming for? Then, it’s time to reflect. Ask yourself if you did your best given the circumstances and what contributed to the shortfall.
It’s also important to be honest about seeking help. There’s no harm in getting assistance from a Business Coach to ensure your plans are aligned with your goals and are setting you up for success.
I can help you build your business plans and set business goals
Sometimes, a fresh, outside perspective is exactly what you need.
As a Business Coach and Mentor, I work with business owners like you to provide clarity around goals and guide you on the right path towards achieving them.
Whether you’re struggling with the right strategy, losing focus of your goals or need assistance in communicating your plans with your team, I’m here to help. Simply schedule an initial discovery call today with me.
Get the Right Advice from Growth Workshop
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