Setting a lofty goal for your business can help drive you to the next level of success.
Whether that’s doubling your clients, hiring a new team member or two, or even expanding to new markets – a worthy target is something you should reach for.
But the thing about big goals is that sometimes you can fall a little short of the mark. It can be a disappointing outcome and you may be left wondering if your dream was too high in the first place.
The Importance Of A Business Goal
But there’s no need to worry: missing the target is not a reflection of your business’s success or your skills. Instead, it may just indicate you lack a proper system.
Too often we see business owners set a goal with good intentions, but little to no preparation and follow through, which are both essential.
The good news? A proper system that helps you reach your objective is simple to set up!
We’ve observed – and helped – hundreds of Aussie businesses achieve their goals. They all used the following steps to make their goal achievable:
Priority Means Only One
There’s an old saying that you should start by doing more, but with less. Your goal should be exactly that: just one goal!
After all, it’s not rocket science: the more things you try to do at once, the less focus and energy you have to make meaningful improvements.
A truly worthy goal will develop your business, but demand tremendous effort and no short amount of attention. Your resources – hours per day, finances, employees – are limited. Spreading them too thin across multiple goals will result in slow progress across many fronts.
Focusing on a single goal will allow you to complete it in a reasonable timeframe. You won’t be burned out from not seeing any progress like you would with multiple goals.
A Goal Should Be Set To In Parts, Not As A Whole
When setting a goal for your business, it’s important to choose one that will challenge you. Only by stepping outside of our comfort zone can we push past our limitations.
However using this approach can be daunting, to say the least. It’s all well and good to say you’ll double your profits in a year…but how are you supposed to even start?
The key is to break your goal down into manageable parts. Once you know the end point, focus only on achieving the next step. This will make progress far more approachable.
It might sound impossible to increase profits by 100%. But you can certainly think of ways to improve by 1%. And then another, and another. Once you’ve figured out the first step, you can likely repeat it or develop it further for future success.
Deadlines & Timeframes Are Your Friends
Another old saying goes something like this: a dream without a deadline is just a wish.
By setting timeframes and deadlines for your goals, you’ll get the kick you need to actually pursue them. It will also help you scope out how long you predict the goal will take, so you can set to breaking it up into manageable steps. By knowing you can make meaningful progress on your goal in a day, for example, you’ll be extra motivated to get it done.
Most importantly, a deadline will keep you accountable. It’s deceptively easy to announce your intentions to reach your new mark, but then get lost in the busyness of daily work.
With a date marked on your calendar, you’ll be reminded to keep your progress on track rather than putting it off for another day.
Collaboration Can Help You Achieve Your Finance Goals
When it comes to achieving your financial goals, there’s no better method than to leverage the experience of an expert. At The A Firm, our accountants, bookkeepers, and business consultants tailor proactive strategies for your business.
There’s nothing wrong with setting an ambitious goal: let us help put the systems in place to empower you to reach it.
Call us today and let’s bring you one step closer to your business’s best future.