Writing Goals For Your Business

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It has been said that a person who has low goals or expectations is never disappointed.  You may think you know what you want to accomplish and don’t need to take the time to write your goals, but you will find everything runs more smoothly and your business is more successful when you have goals that are written, specific and measurable.

Knowing where you want to go is the starting point for setting goals.  Without goals, you can neither know what direction you need to be going nor measure your progress along the way.  The goals you write for the business will also help the employees see the big picture and focus on individual goals.  To achieve a goal, you must keep priorities clear and well defined.  Realizing needs is a basic step in goal setting.

Goal setting is an on-going process.  Every time you complete a goal or project, think about the next goal.  Although you may not be able to control some factors, you can control your ability to set goals and work toward achieving them.  People are reluctant to set goals if they have failed in the past or see goal setting as a waste of time.  Although goal setting is not time consuming, most people do not allow sufficient time to set goals.  Divide goals into what you must have, what you would like to have and what would be nice to have but is not necessarily crucial.  Be realistic in setting short-term goals to avoid planned failure.

Why is it important to write goals?  Writing clarifies goals and helps you edit.  Writing a goal also puts you closer to achieving it and establishes a time frame for each goal, whether long term or short term.  In addition, your employees can see all you are striving to complete.

Objectives are activities which lead to achieving a goal.  Written objectives must be reasonable, require improvement, change from year to year and be measurable by an acceptable standard.  Some tips for writing objectives are:

Start with an action verb and identify a key result for each objective.

• Give yourself a deadline to measure each objective.

Seek opinions from people who can help you define objectives.

Avoid business jargon and use clear, concise language.

Think of something you want to accomplish in the next month.  What specific benefits will your business enjoy when you have attained your goal?  List obstacles in your way and think of ways to overcome them.  Because most people are resistant to change, it is important to involve your employees so they will know what to expect and what you are trying to attain.  A positive mental attitude is necessary for goal attainment.  The process of achieving your goals or dreams starts stretching your potential.  Objectives are specific and can be measured, and they must be written to be meaningful.  They change from year to year and allow room to grow so that you can stretch yourself.

You and your employees have values which motivate each of you, some of which include achievement, security, desirable location, loyalty, self-realization, challenge, enjoyment, status, power, friendship, family, competency, independence and wealth.  The reason you need to review your goals and objectives at least once a year is to see if you met your expectations.  Failure isn’t a bad thing, and you can learn from failure as you move toward your new goals.  If there were no obstacles to achieving a goal, it wouldn’t be a goal.  You don’t have to wait a year to review your goals, as you can write and review goals often.  Apply things you read and hear to what you know and use suggestion to influence your employees.  Learn how to help yourself and share your knowledge.  Your employees are an important part of your business, so it is important that they understand your goals and are able to write theirs to complete your goals. 

In summary, goals should be written, specific and measurable in order to be effective.  Under each goal, you should include objectives or action plans to describe how you plan to meet the goal.  If you have written goals and objectives, review them at least once a year.  If you haven’t written goals and objectives, get that computer out and start planning.

  • Author: Pat Jones
  • Title: President/Owner - Business Broker
  • Company: Pat Jones Business Brokers
  • Company Website: http://www.patjones.biz/
  • Date: April 26, 2018
  • Category: Buying a Franchise or Business
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