Haven Accountants and Financial Advisers

Home Blog Ready to set some goals for your business this year? Here’s how.
Ready to set some goals for your business this year? Here’s how.

 

 

Are you looking to set some goals for your business this year but aren’t sure where to start? We’ve got some great tips and tricks to help you set goals that are actually realistic and achievable for you and your business in 2020.

Mix them up
Although you might want to keep your personal life and your business life separate, most business owners know that this can be very difficult to do. When you set goals, it’s a good idea to write out both your personal goals and your business goals and see how you can align them with each other – you’ll be more likely to work harder to achieve them if they’re significant to both parts of your life. For example, if one of your personal goals is to achieve a better work-life balance, one of your business goals could be to delegate more.

Break your goals down
A common reason why most goals don’t actually get achieved is because the goal itself seems too big and unachievable. You might say you want to increase your sales revenue, but if you don’t have a specific figure and solid steps to achieve it, you’re likely to fail. Break your goal down into smaller chunks week by week or month by month, and include exactly how you will achieve it in that timeframe – you might follow up your outstanding debts sooner, or increase your pricing in some areas.

Make them specific
As mentioned above, you’re much less likely to achieve your goal if it’s too vague. You need to be specific every step of the way so that you can accurately measure how you’re tracking. So if your goal is to free up your time, you need to ask yourself a few questions to narrow it down to important specifics – how much time do you want to free up? What resources do you need to make this happen? How will you ensure that it’s achievable in the long-term?

Write your goals down
You’ve probably heard this one before but it really is important, especially when it comes to business goals. Even if you type it up and map it out, it’s a good idea to have some form of visual representation of your goals around for you to check in with often. If it’s written down, it feels more real and tangible and you’ll be reminded of it every time you sit at your desk or walk into your office.

Review them regularly
There’s no point having goals if you don’t review them regularly to see how you’re tracking to achieve them. If anything changes in your business, or you decide on a new direction, your goals will also need to change to reflect this. Your goals should be a part of, or at least align with, your overall business plan so that they’re always up to date and useful for you. If you need help with putting some achievable business goals in place, our friendly business advisory team can help!

Get in touch with us to see how we can help you achieve your goals in 2020.

Want your business to thrive this year?

Get in touch with us!