How to Set Business Goals?
How to Set Business Goals?
The fourth quarter of the year 2019 is about to end, which means it’s time for
sales and marketing professionals to pull up their socks for the upcoming year
2020. It’s time to set new business goals for the New Year 2020. This is the
right time to start setting business goals. This proactive approach is
necessary to beat the upcoming competition and challenges waiting for the
business ahead. Many organizations set business goals haphazardly, or they fail
to set their business goals altogether. Setting the business goals takes time
and these goals should be consistent with the business core values, mission,
and vision.
It is essential
to set business goal as it clarifies and quantifies the business needs and
wants. Let us look into a few pointers helping us to set business goals:
Time Span: The business goals should be time-specific then only
business can strive to achieve the desired outcome in a stipulated span of
time. Business goals can be set majorly in 3 forms like short-term, medium-term
and long-term. Short-term goals are in the range of one-year, Medium-term goals
are in the range of three to five years and Long-term goals are in the range of
10 to 20 years.
Make a Note: Making a note of things on a pen and paper is one of
the best childhood habits that one must never give up. If you want your goals
to be achieved make sure you make a note of goals in writing. Once we write
down something, the chances to forget that decreases. If you are not writing
the business goals and just keeping them in your mind then there will be no
difference between your goals and New Year’s resolutions that never turn into
reality. Once your business goals are recorded, you can’t forget them and these
goals will keep you reminding of a commitment that you made while framing them.
Disclosure: The disclosure of your set business goals is
necessary because then you will be more accountable to fulfill them. Once you
share your business goals with others then you push yourself more to achieve
those goals. You know that apart from you others also know what you stated
while framing the goals. This acts as a good pressure and a motivation to
achieve the goals in the stipulated time frame.
Quantified Goals: Your business goals should be tangible and
measurable. Quantifiable business goals help you to track the business
performance as and when you achieve them one after another. It makes you aware
of how much time you took in achieving a particular goal and how much time you
require more to achieve the rest of the goals.
Don’t Be Too Rigid: As we know change is the only constant
thing in life. The dynamics of our working environment also change rapidly and
in such scenarios, goals should be subject to change. You never know what
unforeseen circumstances could arise in the upcoming year. There could be
multiple external circumstances that can go beyond control so don’t be too
rigid while setting business goals. Leave a scope of change in your business
goals and don’t be afraid to alter them.
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