Setting Goals: Why it’s Important to Set Goals For Your Business
Did you know that only 8% of people who make New Year’s resolutions keep them? Part of the reason why they don’t last is because people don’t define their goals. For example, if you simply say you want to get fit or travel, you have not given yourself enough information to really make it happen. Whether you want to achieve a personal or professional goal, it is important to define it in as much detail as possible.
In your business, it is best to define the goals for your business before you start it. If you didn’t do it before you started it, you should take the time to set goals now.
Tips For Setting Goals For Your Business
Wondering what are good company goals or how to set goals for a small business? These business goals might range from:
• Establishing sales and revenue targets
• Projecting the number of customers needed to reach those targets
• Knowing the types of products or services you want to offer – initially and what you want to consider in the future
• How many employees you need
These may also revolve around the personal goals of the business owner. Those goals may include areas such as:
• Income. How does income play into your reasons for starting a business? Do you want to achieve financial security? How much money do you want to make during your first few years of operation?
• Lifestyle. What do you want to do when you aren’t working? Do you want to travel or invest in property or other assets? How many hours do you want to work each day or week? What will it take to get you to those lifestyle goals?
• Passions. What do you love doing? If you are passionate about something you will love doing it. Determine if you like working outdoors or indoors, with computers, on the phone or face-to-face with people, and so on.
In order for a business owner to live a certain lifestyle with a certain income, what revenue targets does the business have to reach? What combination of products and services will help the business achieve those targets? How will the business market to the right customers in order to reach those goals?
Establishing S.M.A.R.T Goals For Your Business
By establishing S.M.A.R.T. goals, business owners can focus on what is really important in their business because they know what they want.
S.M.A.R.T. goals are:
• Specific. Define what you want from your business as specifically as possible. Try to answer the questions who, what, where, when, why, and how. You may want to break a larger goal into separate smaller ones so you can be more specific.
• Measurable. Determine how you will know when you have attained your goal. If you can measure it along the way, you will be able to see if how you are doing and adjust accordingly.
• Attainable. The goal should be something that is realistic for your business. If you set unattainable goals, you will be disappointed in the long run. If you need to, set sub-goals so you can continue to see progress, even if the ultimate goal might not be met until years from now.
• Relevant. Does this fit with your short- and long-term plans? If it doesn’t, it won’t be a priority.
• Timely. When do you want to complete this? Set a time frame for the overall goal and for any intermediate ones. A sense of urgency will help you complete it. If you set goals that might not be met for 1 year, 5 years or even 10 years, plan to measure your progress on a regular basis and adjust where needed.
How Pet Butler Helps Franchise Owners Reach Their Goals
Under the Pet Butler franchise system, franchise owners have a dedicated business consultant as well as access to our turn-key marketing systems and back-office support, all available to make each business more successful. Our business consultants work with franchise owners to make sure they know what goals they want to reach and will help achieve them. When our franchise owners are successful, so is Pet Butler.
Whether you want to switch your independent business to a franchise system or you are looking for a new turn-key franchise opportunity with the resources and support to help you be successful, Pet Butler may be the perfect fit for you. Learn more about Pet Butler by calling 844-777-8608 or visit us at www.growmypetindustrybusiness.com.