Each year we often make resolutions for ourselves but as business owners we often let our company’s goals get set on auto pilot. This can be especially true for businesses that are a few years old, the initial burst of excitement of the new venture has begun to wear off, but you’re still juggling a lot of hats. Goal setting is one way to help keep your initial goals and dreams on track.

Researchers at Harvard University stated, “Studies have documented that individuals with clear, written goals are significantly more likely to succeed than those without clearly defined goals.”

For goal setting we use deductive reasoning, or top-down logic. This helps us to see the big picture and the road map that will get us there.

In 2017, we suggest taking these easy steps to make your big business ideas into manageable goals.

#1 Think about the initial vision for your business. (Write it down!)

#2 Then reflect on how far you’ve come (this is a big confidence boost).

This can also give you a realistic idea for setting deadlines. If your company has grown 10% each year precedence dictates that rate would stay steady. A leap of 50%  growth in 2 years seems illogical. Instead you may decide to aim for 25% growth in 2 years.

#3  Define your smaller more manageable goals that will get you to meet your long term goals.

When it comes to business, long term goals are 3-5 years.  Focus on goals that can be completed in 2      years or less.

#4 Plan timelines and specific tasks that will be a part of day-to-day work

One of the hardest things is feeling and knowing how your day-to-day tasks fuel your goals. That is where we want to create the connectedness of long term, short term and daily goals.

Let’s look at an example.

If you say that in 2 years you want to increase your annual profits by 25%, that is a large goal. Break it down by chunks whatever is best for you monthly, quarterly, weekly; depending on your business and how often these figures can be pulled. With the smaller goal of increasing sales 3% every month, then you can make a list of tasks that will assist you with this.

From that measurable goal, we can get the day to day actions. An example might be that to increase sales, I will reach out to 3 new leads per week followed by scheduling time to do that on your calendar. Another might be to update the company website, which will enhance the online presence creating more leads. It is all about what your role in hitting that target is within the company. If you’re not in direct sales, but that is your company’s goal, approach it from your role. How can you be a resource to the sales team, customers or management? What can you do that will increase profits? Then create your own goals and tasks.

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