I meet business owners everyday who spend more time planning their next vacation than they do planning for their business’ success. Not spending time determining what your goals and Key Performance Indicators are for the coming year, handicaps their efforts and successes all year long.
While you can refocus on your goals at any time, the beginning of a new year is the best time to review your business goals and determine where you want to go over the next 12 months.
Why set goals?
Setting well defined goals is the only way to measure success and ensure you’re moving in the right direction. Without goals, business owners get stuck chasing undefined success that they may never catch, rather than making calculated and purposeful decisions toward their end goal, or whatever means “success” for them.
Having goals allows you to set the direction of where your business is headed. You get to create your own reality rather than reacting to what your business encounters over the course of the year.
How to set goals?
Look for opportunities you might have missed in the last year. Did you see growth in any portion of your business? Can you expand on that growth in the New Year? Look for trends and review whatever data you might have collected in the previous year to decide what can be improved in the coming 12 months. Use the old adages “where there’s smoke, there’s fire” and “strike while the iron’s hot.” Often the highest ROI comes when you focus your resources on the portion of your business that’s at a tipping point of greatness to give it the extra push it needs to really produce leads, sales, etc.
Next categorize your opportunities for improvement. You may find you have several areas that tie into each other. For example: if you’d like to redesign your logo, change the fonts on your website and start using branded content on social media, you might categorize that group of goals as “establishing brand standards” to achieve a more cohesive and strong brand.
Once you’ve established where all of your opportunities lie, make a plan of attack. Ask yourself, how do I achieve this change in the next year? A good plan should have specific and measurable KPIs as well as a realistic timeline and action-oriented steps. Prioritize steps and action items in order to accomplish what you’ve set out to do for your business. Then set checkpoints to measure your successes and the progress you’ve made towards accomplishing your goal.
Finally measure your results. Have you accomplished all the steps and checked all the boxes in order to achieve your goals? Are you done? Do you need to pivot or have you succeeded in maximizing your opportunities and are you enjoying the spoils of your thoughtful planning? The best way to officially answer “yes” to all these questions is by looking at the hard numbers associated with your efforts. You may feel like your work is done, but unless the numbers match up, there may be more opportunities ahead.
How we do it?
At Timmermann Group we’ve made setting and accomplishing goals a cornerstone of our company culture. Not only does the organization set goals for the month, quarter, or year, we also encourage every member of our organization to set specific and attainable goals to level up their personal and professional skills and qualities.
We use a 30, 60, 90 day approach to setting and measuring our goals. This allows us to detail a plan, implement the plan as well as measure at 3 points during the duration of this process. If a goal is not completed in the 90 days, it’s shared, evaluated and vetted to determine if it should be retried or stopped.
What we’ve accomplished
As individuals, Timmermann Group employees are encouraged to set goals which will allow them not only personal satisfaction, but also a professional leg up. Great accomplishments in video editing and production, website development, coding advances, social channel development, studying and gaining additional education have all be the direct result of encouraging our employees to set, strategize and measure their goals.
As an organization this has allowed the entire team to work together to accomplish our business goals. Because of this thought process we’ve accomplished goals such as launching a new website, reaching the #1 Google ranking for our key search terms, gaining more business than ever and moving into a larger space. These goals weren’t accomplished by one person, they were a direct result of the group working towards each established goal.
Can we help? Contact Megan directly to discuss your goals here.