This is part two of MyBusiness’ four-part series on preparing for the new year. Check out our previous story on how to create a mission statement, and stay tuned for more tips and resources to improve your small business in 2014.
Setting goals is easy, but following through is more difficult. As you prepare for 2014, follow these tips to set—and keep—your business goals.
•Start at the end. What do you want to have accomplished by next year? What do you want your business to look like in five or 10 years? Look at your long-term objectives and then define the goals that will get you there, says Alex King, CEO and co-founder of gatherDocs, an applicant tracking system and mobile hiring tool for the retail and service industries.
•Be SMART. A goal won’t amount to much more than a sentence on paper if it’s not realistic, measurable and tracked.
“When setting goals for my business, I follow the SMART strategy,” says NFIB member Andrew Schrage, founder and CEO of financial education website MoneyCrashers.com. “Goals should be Specific, Measurable, Attainable, Relevant and Time Bound.” Under this strategy, Schrage sets short-term (30-90 days) and long-term (annual) goals and reviews them regularly, adjusting if necessary.
•Don’t forget your mission statement. Your mission statement is the foundation and purpose for your business. All goals should stem from it. As you’re crafting your list of goals, ask yourself if each item furthers or distracts from your core mission.
“It’s important to set measurable goals that help keep you in line with your mission statement,” says Maggie Hodges, Internet marketing analyst for Full Media, a web design and Internet marketing company. “Therefore, a mission statement should influence the goals and objectives that take place within departments and teams.”
•Get a head start. One of the biggest problems with keeping goals is the tendency to delay acting on them.
“Don’t wait for the time to be right,” says Bob Sadowski, marketing manager for ACCO Brands, an office products company. “If you let the daily drag of meetings, calls, emails and everything else that hastens productivity delay you, that start date may never come, and you’ll find you and your team paralyzed by excuses. Instead, start small and be accountable [to your goals].”
•Avoid the rut. Goals are an integral part of your business’ long-term growth and success, so be careful not to miss opportunities for improvement amid the day-to-day routine.
“Always continue to innovate, and never be satisfied with just the status quo,” says NFIB member Ian Aronovich, president and co-founder of GovernmentAuctions.org. “No matter what, keep looking for ways to improve the way your company functions.”
