Setting Business Goals
It is the responsibility of the business owner to determine the direction for the company
. You might call this important job communicating your vision to your staff. Your workers need to understand how you want to accomplish your vision. That's why you must take the time to create concrete business goals, or targets, for the year. Written goals help employees see how specific markers signify the company's success. Here are four tips for setting business goals:1. Focus on finances. Where does your company stand in terms of financial stability? You can look at the books and consult with your accountant to get an idea. Set a goal for increasing the amount of annual sales. Better yet, challenge employees to cut business costs. Higher sales or the same sales with lower costs mean you can generate more profit.
2. Focus on customer service. Companies in hard times may not have the funds to invest in research and development, marketing, training, expansion, and other types of business growth strategies. Looking inward at your staff, you can challenge them to focus on customer service. This is a free goal. Select someone to head up this initiative and offer workplace rewards for employees who meet their goals in providing excellent service. You can provide early departures on Fridays, for instance, to top performers.
3. Focus on individual achievement. Related to customer service is placing the responsibility for business success on individuals. You model this goal by setting your own goals as the business owner. Share these goals with your staff. Then ask them to examine their own job descriptions and establish personal goals for the year. These goals might relate to company-wide goals. If you don't want to tie their formal evaluations to their personal goals, you don't have to.
4. Focus on innovation. Challenge yourself to make better use of employee ideas. You need a formal process for getting these ideas onto your desk, or you might just ask employees to email you their suggestions for improving the business. Follow up by setting aside time in your work schedule for reviewing these ideas. The ultimate challenge will be how to implement ideas in your company.
By Audra Bianca
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