Everyone needs to set goals, but this is imperative for running a business. Here’s how it can create advantages.
Clear expectations are vital. Just as a goal must be Specific and Measurable, communication about that goal needs to be equally clear and direct. It’s not enough to simply state objectives; engaging in meaningful dialogue where questions are encouraged, and clarifications made is key. This ensures that every team member not only understands but feels connected to the goal.
Tangible vs Intangible
The term tangible refers to anything you can feel, touch, and see. Thus, tangible goals are things like percentages, figures, and things you can plan to achieve. On the other hand, the term intangible refers to something that does not physically exist. You cannot feel, touch, or see it. However, intangible goals are needed to reach tangible goals. Keep the two types in mind when developing your strategy.
Embrace and Leverage Technology
With technology and software continuing to develop at a fast pace, how can you reduce the time needed to support your customers, but still provide them with real value? Consider how you can be more agile, and where you can leverage technology and AI into your business offering and overall operations.
Set Performance Indicators
Knowing why you’re pursuing a goal, what you hope to accomplish, and what resources will be involved isn’t enough. You also need to determine what success looks like by establishing performance indicators to help track your process. You should hope to answer questions such as:
- What is our required return on investment?
- How many additional sales or sign-ups do we need?
- How do we know when the goal is accomplished?
These measurements may include both data-driven indicators as well as actionable steps that must be taken. By tracking results, you can quickly identify if you’re on the right track or if you need to pivot towards your goals based on poor performance. The metrics you decide to track will fully depend on your business or project, but here are a few key metrics we recommend you consider.
Take Space for Your Planning
Effective planning requires time and focus. Set aside dedicated periods for planning, free from distractions. This lets you think critically about your goals and strategies, leading to more thoughtful decisions.
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