How do you measure your business success and what do we mean by achieving your goals early? You will have many goals throughout the duration of your time in business, some of which are more significant than others. Any goal that you set has got to be important and you must strive to achieve them – especially when it comes to starting a business. Without goals and targets we simply don’t have the required focus to know where we are and where we need to be.
What might your business goals be when you are first starting out in business?
- Devising a business plan
- Coming up with a business concept
- Naming your business
- Buying equipment
- Securing your first customer
- Making xxx amount of sales
- Turning over xxx amount
- Getting positive and tangible feedback about your business
All of these are great goals – now making a certain amount of sales or turnover could be seen as more significant goals than buying equipment but they are all significant when it comes to the success of your business. Because each goal is a milestone then they should be recognised and celebrated. It may not be a big deal to some but it is an achievement, a success that shouldn’t be taken for granted. Imagine the reverse – if you hadn’t achieved what you had set out to?
So if you are achieving your goals and you are achieving them early what will you do next? For some it may be easy to sit back and coast, which will suit certain individuals, but here is your chance to achieve you plans early, make more money than you set out to in your first year and be further along than you set out to be with your business.
Set new goals, stretch those goals but make sure they are SMART!
It is easy to get a piece of paper and write down a goal. And if you have already achieved your goals then you probably feel you are really good at setting them so why not go for even more ambitious goals. This is where you need to be careful. It is good to have goals, and it is good to have ambition but you need to ensure your goals are SMART – Specific, Measurable, Achievable, Relevant and Time-Bound. If they aren’t then you risk under delivering and whilst this may not have any significant impact on the success of your business it won’t make you feel great. Achieving goals is what helps to motivate and drive both us and our teams.
What do you do when you have achieved these goals? Well of course you keep setting them, keep achieving them and keep celebrating them.