How to Set Business Goals for 2021
The sky's the limit when we talk about goal setting, how we want our life to turn out, and what aspirations we have for our business.
Ready to dream big? Our post for today is a guide to set your Business Goals for the next 5 years. Let’s go!
Realize Your Future Vision
Before setting goals, you need to ask yourself a few important questions:
What size do I envision my business is going to be in 5 years?
Where do I want to go with my business in 5 years?
What do I want to be doing in my business in 5 years?
Once you answer those, start working backwards. Develop an annual plan that will take you to the end result in 5 years. What do you need to accomplish in year 1 so you are on track? And in year 2? And so on. Then, start working on those yearly goals. What do you need to do each month or each quarter to reach the yearly goals. And finally, what should your daily or weekly activities look like to reach those monthly goals?
Write it Down
Whether you’ve got a super clear picture of your goals in mind, or they’re a little hazy around the edges, it’s time to write them down. Think of this as your wish list for the future. You are 42% more likely to accomplish your goals if you write them down. Also, an extremely effective technique for achieving business goals is to share them with someone else, your business partner, your team, or even your family.
You want to treat this as another project in your business, therefore, you need to set milestones, create tasks or reminders that helps you get a sense of where you are. Lets say, you have a goal of getting 3 new clients a month to increase your revenues to the level you want. You want to continuously check results. You need to know if you are somewhere close to your monthly goal and if not, make necessary adjustments to stay on track. That means you can’t wait until the end of the month to find out you are still behind in your goal.
Don't hesitate, don’t second guess yourself. Stay positive and proactive to complete your goals. Enjoy the process too, don’t be hard on yourself. If you were not able to complete a milestone on time, set a new date and stay on track.
Make Space for Your Goals in Your Daily Life
The only way to make your goals a reality is to work on them every day, so you need to make your daily tasks part of your day. So if for example your goal is to gain 1 new client a week from Facebook then you should share valuable content there every day. Interact with your followers and comment on other’s posts. Set aside 30 min each day to work on this!
Check in on your goals!
Remember to review your list and breakdown of your 1, 5, and 10-year plans and see if you’re on track to success.
Whatever your business vision is, you will need someone to advise you on an accounting and financial level. If you need help, we are experts on this subject, book a call.