Four Reasons for Business Goals
Updated: Jun 10, 2020
Just like in life, business goal setting and measuring is very important to not just set an end goal, but also to ensure you remain on course along the way. Below are four reasons why your business needs to set good goals every year.
Measuring Success It is human nature to enjoy wins, but also it can be that we turn a blind eye to defeat when it is staring us in the face. Going about your business without a clear plan is like playing sport without a scoreboard, there's always that one person who sneaks on or takes off an extra goal! By setting clear and achievable goals a business can see how they are tracking and if it is time to celebrate a win, or change course to avoid further defeats.
Cohesion Nothing helps a team all pull in the right direction more than all understanding what they are trying to achieve. Goal setting helps leaders and managers better communicate business messages to their teams and additionally, it helps eliminate the uncertainty that any staff member may have on why they are important.
Make Informed Decisions In the new digital age the world never stops and in turn businesses never stop. This can make it very hard for business owners and managers to take a step back and make clear, big picture decisions. Many owners and managers get stuck feeling like a hamster on a wheel making day to day decisions, and this is when businesses are most likely to come off course. Having clear goals set out, they can step off the hamster wheel and make tactical decisions to ensure goals are met.
Re-assess and Evaluate When your goals for the year are set early and they are being continually monitored, you can easily change course mid-year if necessary. If your goal was for 25% growth for the year but in the first half of the year you only manage 5% growth, you should adjust your revenue and expense projections accordingly. If you hadn't set the initial goals, this type of information would be harder to decipher and decisive action is harder to make.
Whilst setting goals alone won't ensure success for your business, nothing but hard work will. There is a lot of value in having some sort of map to ensure you don't get lost along the way. At Blue Horizon we can't predict the future, but we can help you better plan for it. Book your free one-on-one consultation now. https://www.bluehorizon-consulting.com/book-online