Business Goal Setting in the New Year
A new year brings new purpose and a sense of new beginning for entrepreneurs and business owners in every niche. It is a fresh start and an opportunity to reassess the direction of your business and set new goals for the year.
But what are the critical elements of setting business goals in the new year?
You’ve likely already heard of setting SMART goals. That is, each goal needs to be:
Your business goals need to be written and outlined in such a way that they are specific for what you want to accomplish. When writing goals, the more detail you can include the easier it will be to accomplish.
Each of your goals needs an aspect of measurement. Adding a related numerical value or benchmark of achievement will allow you to determine when your goal has been reached.
Setting an achievable goal requires prior knowledge of what you and your team are capable of. When drafting your goals in writing, set your sights just above what you think is easily attainable. Goals should push you just outside of your comfort zone but stay within the realm of possibility. There is nothing more frustrating than working toward a goal that is too far out of the realm of attainability.
This aspect of goal setting seems a bit redundant and obvious, but it’s of no use for you and your business if you set a goal that isn’t relevant to your business plan or direction of your business. Each of your goals should relate directly to the function, purpose, and direction of your business.
One of the most important aspects of goal setting is the element of time. A time based deadline is essential for determining whether the goal was accomplished on time or not. Without a time based aspect, goal setting becomes a waste of time, literally.
However, despite writing the SMARTest business goals, without personal ownership your goals will be nothing to you. Yes, accountability is helpful to force personal motivation. In the end though, without a personal investment and ownership of your goals, you will procrastinate and continually push aside that which you need to do on a daily and weekly basis to achieve your goals.
So stop, assess your current goals, and decide whether you are emotionally invested. Then, own your goals.
Will you do whatever it takes to achieve your goals?