Are you the owner or CEO of a business? Can you name your company’s goals? Does your company have goals in place? More than eighty percent of small business owners surveyed said they don’t keep track of their business goals. Setting goals requires introspection and the willingness to take a hard look at your company.
Solicit Employee Input
As the owner of your company, you likely have a very good idea of where you’d like to see the company go. You cannot reach your goals alone though, which is why it is critical to seek the input from your employees when creating company goals. Peter Van Der Bos of Forbes writes that “instead of issuing a top-down initiative, try co-creating goals with employees.”
Goals Must be Quantifiable
As you set goals for your company, make sure there is a way to measure success of that goal. For instance, instead of setting a goal of “we will grow our business,” your company should be setting a goal of “we will grow our revenue by twenty percent within 12 months.” This way, there is no argument over whether the goal was met or not. Think of your goals as letter grades. For example, in school, typically if you receive a 90% or above, that correlates to an “A.” Your company should create goals that are as quantifiable as that.
Stay Focused and Organized
Now that you have collaborated with employees to create measurable goals for your company, it is time to start measuring success. It is one thing to set goals but it is another to track them properly. Set at least one day a month where you revisit your goals and assess the company’s progress. Tracking the progress of your goals will take focus and organization. When you create company goals some will naturally be short term and others more long term. Check in on the short term goals more frequently than the overarching, long term goals.
As you sit down to create goals for you company, keep the above guidelines in mind. Goals should be created with employee input, be measurable and quantifiable. Lastly, remain organized and focused to keep track of the progress you’re making on your company’s goals.