The Importance of Setting Business Goals 2018

Getting lost used to be much easier, one wrong turn and you could lose your way. You might even pull over to unfold a faded paper map to find your way or maybe even ask a stranger at a gas station for directions. Now smartphones and GPS have changed the way we navigate, but even the best technology can’t even tell you where you want to go…

“All successful people have a goal. No one can get anywhere unless he knows where he wants to go and what he wants to be or do.” —Norman Vincent Peale

As you start thinking about this year and what lies ahead, below are a few reasons to explain to you why planning with a purpose is so important in 2018. And you are probably wondering, why is it important to set goals inside the company in all levels from top level broad objectives to low level team-based goals? The answers are simple:

  • Increased Visibility: 
    Having clearly defined goals allows your employees to align and relate to these goals, which in turn creates synergy, motivation, and a sense of purpose. In reality, not many companies have goals, or if they do, they are not visible enough which leaves the employees and teams guessing their responsibilities and success metrics. You want your team to come into the office knowing exactly what to do to add their value to your company every day.
  • Increased Responsibility:
    When all employees in your company understand both the broad corporate goals and specific team goals, it makes it very easy for them to make decisions, initiate tasks, and work with minimal supervision. This is like driving a car using GPS; by knowing your broad goal, e.g. your destination, and your specific goals, e.g. turning right onto the next street, it is very easy to make decisions and correct your action without anyone in the passenger seat telling you which way to go.

“One way to keep momentum going is to constantly have greater goals.” —Michael Korda

  • Achieving Things Faster
    There is no argument that when you have goals set in place with deadlines, things get done faster. Would you ever hand in your assignments at school if there were no deadlines? Having set goals with deadlines allows teams to focus on priorities and get things done at the speed of light…just make sure you don’t over-stress your team.
  • Better Collaboration
    Having goals in place unites your team to work together to achieve a shared vision. If there is no clear vision in place, people are less likely to collaborate and help each other.

“Great things in business are never done by one person. They’re done by a team of people.” -Steve Jobs

Make sure your 2018 goals are SMART

You should always make sure that any goal you set for 2018 is SMART.

A SMART goal is:

  • Specific – What are your business goals? Are they specific enough or are they too broad? What needs to be done for your business to achieve these goals? Why do you want to reach your goal?
  • Measurable – How can you measure your progress? How will you know if you your business is on the right track?
  • Attainable – Can your goal actually be achieved?
  • Realistic/relevant – Can your business achieve these goals? Is the goal worth it?
  • Time – What’s your time frame for reaching your goal?

This is extremely important when setting 2018 goals because by doing this, you are ensuring that your goals are realistic and attainable.

Goals are powerful—they can focus your attention on achieving your desirable outcomes. In business, one desirable outcome would be profitability. Profitability does not happen without making sales, plus correctly managing expenses. Employees prefer to know what management expects them to accomplish, and goals provide that direction. The human brain has amazing problem-solving abilities, and goals channel brain power toward finding solutions.

Within saying all of this, it’s about time you buckle up, switch on that GPS and enter your goal destination, because 2018 will be the start to your business’s road to success.

Written by: Lauren Rose

By | 2018-02-19T13:09:29+00:00 January 29th, 2018|Blog|