“Fail fast” is something almost every entrepreneur has heard from some well-meaning person over the course of their career. While failure certainly isn’t a bad thing, we’d prefer to give you the tools for success. We’ve helped plenty of companies achieve their business goals, and these five-rules have laid the foundation for their accomplishments.
While every entrepreneur has goals, not all goal setting techniques are equally effective. Taking the time to work through the rules we’ve outlined below has allowed us to work with our partners to turn their vision for their business into a reality. Read our 5-Rules for Achieving Your Business Goals in the blog post below.
Take a minute to write down what your goals are, and what steps you’re going to take to achieve them. Your business goals need to be SMART (specific, measureable, achievable, relevant and timely) to give you the best possible start on the path to success. Note: the goals you choose to focus on shouldn’t extend beyond one year. If they do, you’re getting into long term planning (which is also important, but not the topic of this blog post).
In order to monitor your progress, you’re going to need to set benchmarks and identify key performance indicators that are relevant to your goal. That way you’ll be able to track what’s helping you to achieve your targets, and what’s not. Determine in advance which tools you’ll use to track your chosen metrics, and a time frame for completion.
Once you’ve outlined what you want to achieve, you need to share it! Let your employees know the overall goals for the organization, and how these priorities relate to your employees’ individual targets. Communicate responsibilities clearly, and set dates broken out by quarter. That way everyone will be working towards the same goal.
To commit to success, you’re going to need to put systems in place that’ll help your employees maximize their efforts while working towards your goal. That may mean developing additional programs, readjusting budgets, or hiring additional people to accomplish the tasks necessary to reach your targets. Your resource allocation should match up with your desired accomplishments for the year.
Of course you’ll want to celebrate once you’ve achieved your goal, but we recommend recognizing smaller milestones along the way, too. It’s not only a nice way to reward your team for their hard work; it’s also a reflection of just how far you’ve come on the path to success.
If you’ve got some big goals for your company but aren’t quite sure what to do to get there, let’s connect. We help entrepreneur’s take their businesses to the next level. Contact us to learn more.