Why set business goals? Setting business goals for the year ahead is an important activity. It enables you to focus and plan your business growth and enables you to identify and marshal the resources required to achieve your objectives. It’s also a great motivator.
Working towards clearly defined goals keeps your business on track and by mapping and measuring what you plan to do, when, how, and who does it, your chances of success will be greatly increased.
Before setting your goals, first review what has worked, what hasn’t and why. Talk to your team about your business values, where you want to take your business and any new opportunities you could explore. Get input and ideas from your team and ensure you have a shared vision that everyone can commit too. If you are a sole trader, talk to your business advisor or others about your goals for the year.
When setting your goals make them specific, achievable, measurable and in line with your business strategy. Include timelines, the person responsible, an action plan and the resources required to implement it. Review your goals regularly to see how you are tracking.
Free SMART business goals template
Need help to get a new idea or service to market? Contact INNOVIC on (03) 8060 3504 or www.innovic.com.au. We do zoom, telephone and face to face consultations.
