Goal setting is powerful. Do you set goals within your business?
Whether you are already a business owner or you’re an aspiring franchisee, this article will show you how to use goals to grow your business, use goals to create an enjoyable working environment for your employees and how to use goal setting to measure your success.
Running a successful business is like running a marathon, you should set yourself goals at each mile mark. Constantly achieving short term goals will result in you succeeding and meeting your end target. That’s why its key you always stay on top of short-term objectives, but to also set realistic short-term goals that link to your company philosophy.
A great way to use goal setting to grow your business would be setting your business goals in line with your company values and vision. Ensure your yearly or quarterly goals are linked to what your long-term plan is. Sit down with your employees and review the last quarter and see what you have achieved as a collective. Working as part of a team will make everyone more motivated.
Revisiting past goals will allow you to see where you went right and where u went wrong. Accepting your businesses imperfections will allow you to adapt and make the necessary changes for improvement.
Involving employees from the start of the goal setting process will mean they will become invested in the company and will feel like they are on a journey with you and is a great way to keep them motivated and keep their personal goals in line with the company objectives. Setting weekly targets with your employees will mean they are all constantly working towards one sole goal. Of all companies who have effective performance management systems, 91% say that employees’ goals are linked to business priorities. Employees will be more effective if they can see how their individual goals fit into the big picture.
Having a plan in terms of your business goals will also allow you to also save time. When running a business, time is a very valuable resource. Would you agree? Setting goals will make you realise what important as a business owner.