Whether you’re in the corporate world, an entrepreneur, or a business owner, an essential leadership attribute is having goals. In this post, I’ll share how to create a business goal and why it’s helpful to do so.
There are many types of goals; specific goals are often referred to as SMART goals:
Specific
Measurable
Achievable
Relevant
Time-Bound
An example of a SMART goal I set for myself in 2020 was to read 12 books in a year. To help me achieve this goal, I joined over 2 million participants in the Goodreads reading challenge. In this app, I set my reading goal and tracked my progress on a monthly basis. I surpassed my goal, which motivated me to do it again in 2021.
Business Goals are based on different metrics such as sales, client satisfaction, growth and reputation.
Setting a Business Goal is important to implement change, remain focused, and progress-oriented. Some examples of business goals include:
Increase sales
Decrease costs
Improve customer engagement
Obtain repeat business
Increase efficiency
Expand audience outreach
So how do you know what your Business Goal needs to be? It starts with looking at your current state of affairs and selecting an area you would like to improve.
A self-professed excel nerd, this is where I often pop on my glasses and start whizzing around inside spreadsheets with tables and formulas. Looking at the list above, “Increase Sales” is not specific or time-bound. To make it more precise, I would look at my business’ cost/investments vs. revenue to determine my profit. From there, I would set a goal of say, “Increase profit by 20% in 2021.” Then, on a monthly basis, I would track it. Done.
On February 10, 2021, I’m offering a Live Masterclass to expand on this topic. I will share The 3 Secrets to Removing Obstacles to Buying and Selling. In this Free Masterclass, you will learn:
How to Deliver Messages and Measure Success —you need to know where you are going and what you want in order to get it
The Ways to Remove Barriers Keeping Customers from Buying —if it's not easy, they don't buy, and you won't be profitable
The MOST Effective Way to Give Clients a Reason to Hire You Over Someone Else —and why you MUST know the three ways to categorize your offering in order to differentiate your brand
After years of developing over 50 brands and authoring more than 500 articles, I know the BEST way to determine what differentiates your brand giving your clients a reason to hire you over someone else.
This Live Masterclass is the first time I am sharing the most powerful and strategic ways to guide any business decision before making an investment and taking action.
So if you are unsure or overwhelmed trying to figure out where to start, I can't wait to help you get started...it's usually the hardest part. See you there!