With every new year, there is always the intent of being better either personally or in business. Unfortunately, many of our New Year’s Resolutions fail; not because we’re terrible people, but because we don’t set good goals.
This blog will hopefully help you achieve your New Year’s Resolutions by helping you set good goals.
WHY SET GOALS?
The reason we set goals is so that we know when we have accomplished a task. Without goals, it can be very difficult to know if we’re making progress, staying stagnate, or worse, going backward. Goals also give us a target to aim for instead of just hoping things get better.
SETTING GOOD GOALS
Now it’s not enough to just set goals with no real thought going into them. If you’re a brand new business, it is very unlikely that you’ll be doing $250 million in sales after your first year. That would not be a very good goal. When setting goals, use the SMART method to make sure they’re good. SMART stands for Simple, Measurable, Attainable, Realistic, and Timely. Let’s look at these a little closure.
Simple is, well, simple. Each goal you set should only be one thing. You don’t want to set complicated goals. Instead, you can set multiple goals to cover all the areas you’re interested in improving on.
Goals should have some sort of metric attached to them that you can count. “Sell 25 computers each month” is a better goal than “Sell more computers this month.”
*Bonus points if you can graph your success over time.*
Every now and then it’s nice to shoot for the stars but we want to set goals that are attainable. If you sell custom-made tables and you can only produce 10 tables a month, your goal should not be to sell 20 tables per month. That is an unattainable goal, presently. Instead, you could set a goal to sell 10 tables per month so you can afford to hire additional help. Then you could create a goal to sell 15 tables per month.
As with the example earlier, you should set goals that you can achieve. “Increase sales by 25%” is a realistic goal for some companies, but maybe a realistic goal for your business would be “increase sales by 5%”. It’s important to look at your past numbers to get an idea of how realistic your future can be.
You want to make sure you have a time constraint attached to your goals, otherwise, they will continue indefinitely and it will be easier to put them off.
This also ties in with keeping the goal realistic. You also don’t want to have too short of timelines that make the goals impossible. Having a timeline attached to your goal also helps you measure your progress over time to make sure you’re staying on track.
Good luck with all your goals and New Years Resolutions!
If you have other marketing questions, please feel free to reach out! We’re always happy to answer questions.