2018 is almost done, and it is time to think ahead to the next year. Every year brings up and downs, but the important thing is that business owners keep their goals in front of them. Take the time to review and contemplate the 2018 goals you set for your business. From there, it is time to focus on building goals and strategies for the new year. Let’s walk through the steps to setting realistic goals that can be completed in 365 days.
Seriously Check Your Current Year’s Goal Progress
Even if the paper is wrinkled and falling apart, it is time to track it down, sit with a cup of coffee, and turn off your phone so you can focus on reviewing your goals. Take note of what goals you hit, which ones you have almost met, and which ones aren’t going to happen before 12/31. Think about why these goals have ended up the way they are. Were some things out of your control? Did you need to reprioritize in the midst of a crisis? Figure out what can be pushed back into 2019 and what needs to be benched even longer.
It sounds so simple, but it can be easy to become overwhelmed with great ideas for goal setting. Take a day and really think about what your business needs to do next. It can be thrilling to say your goal is to make $10million next year, but if you are only making $500,000 right now that probably isn’t realistic. Instead, put together a list of achievable goals that can be accomplished in one year.
Once you have your goals established it is time to decide which ones need to happen first. A common way to approach this is to set a goal for each quarter. For example, it probably isn’t best to set a goal of “Make $5 million” for Q1 unless you know that is reasonable. Perhaps a better option is “Increase closed deals by 20%” or “Reduce employee call outs by 15%”. Setting quarterly goals makes it easy to keep track of how close you are to achievement as well as breaks large goals into smaller chunks.
Review With Your Employees
Once you have set goals, it is time to sit down with employees and explain why they exist, where you see the company heading, and get their feedback. Employee input in the goal setting process can be invaluable as they are in constant contact with the activities that make the company successful. Make sure you are truly hearing what they have to say about the goals and objectives for the upcoming year.
Goal setting and resolutions are a great way to move your business forward, but it takes care and seriousness. Establishing unachievable benchmarks will hurt morale and your business. Instead focus on things that can be measured and marked throughout the year. Here’s to a successful 2019!
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