How to Achieve Insane Growth by Focusing Your Business Goals
Goal setting is an important part of growing any successful and sustainable business. Defining what you’d like to achieve and how you’re going to get there can keep you moving forward. Unfortunately, too many business owners don’t set realistic goals for their companies. Whether you dream too big or don’t develop the right plan of attack, setting inappropriate goals can stifle your business’ development.
If you want to achieve insane business growth, you need to focus on setting and achieving the right goals for your company. Through creating an appropriate plan that brings you closer and closer to the expectations you’ve set for your business, you can carve out a path to success that doesn’t seem insurmountable.
Let’s take a look at why refining your business goals is important, and discuss what you need to do to set clearer and more reachable objectives!
- Setting goals can help your company move consistently in the right direction.
- Goals that are focused and refined can keep your entire team on the same page.
- The best goals incorporate specific metrics, due dates, and clear expectations.
Why It’s Important to Refine Your Business Goals
Establishing goals can help any business owner or entrepreneur start out on the path to becoming successful. However, setting vague goals will do very little to help your company grow. If you don’t clearly define what you’d like to achieve, you’ll never know if you’re getting closer to making that goal a reality.
For example, if your goal is simply that you’d like to ‘grow your business,’ you’ll struggle to know whether or not that objective has been reached successfully. Without setting parameters, deadlines, and expectations, you don’t know what level of growth is enough to say your goal has been achieved. On the other hand, you can set specific targets for your business growth, such as a desired yearly income or amount of sales.
Focusing and refining your goals can give you a clear path to creating a more successful business. With more specific expectations, you’ll know whether or not your company is moving in the right direction.
3 Simple Tips to Help You Focus Your Business Goals
Focusing your business goals may seem challenging at first, but it doesn’t need to be difficult. Here are three simple tips that can help you refine your business expectations.
1. Define Your Long Term Goal(s)
When you first created your company, you probably had a few visions for what you’d like to achieve. Whether that was to be successful or to simply help your community, you likely had some final destination in mind. However, having a vague long-term goal can make it difficult to know exactly what you’re working towards.
Defining your long-term goal or goals can give you a ‘finish line’ to aim for. Through establishing a one-year, five-year, and ten-year target, for example, you can create a long-term roadmap that helps you identify whether or not you’re on the right track. Start out by deciding how much profit you’d like to make, how many customers you want to serve, or how many locations you aim to open. These are all great ideas for long-term goals.
Thinking far into the future can be difficult, but remember that your goal doesn’t need to be set in stone. If you set a five-year or ten-year goal that no longer aligns with your values over time, you always have the power to shift your expectations as necessary. However, establishing a roadmap for what you want your company to look like in the future can show you what you’re working towards. Plus, it will give you a guideline to use when making decisions or adapting to unexpected developments.
2. Break Your Goals into Bite-Size Chunks
A long-term goal can feel overwhelming, and you may not immediately know how to reach it. With the due date so far in the future, you might feel like you have plenty of time to put off working towards that goal. This can mean you end up passing the one, five, or even ten-year marks without accomplishing much.
To make your long-term goals more approachable and manageable, you’ll want to break them down into smaller, bite-size chunks, like the following example from Buffer. By developing smaller sub-goals that you can tackle more easily and in a shorter time frame, your overall objective will feel less overwhelming and you’ll be more motivated to take action.
Break down your larger goals by looking at what you need to accomplish to get from where you are to where you’d like to be. Consider the steps you need to take, and decide when each part needs to get done to reach your larger goal on time (don’t forget to build in a buffer if possible). Use these smaller goals as stepping stones to move your company towards achieving your larger objectives, and to keep track of your progress.
3. Make Your Goals as Specific as Possible
Goal setting can become a challenge for many companies because they don’t set the right parameters. They have vague ambitions, such as wanting to attract new customers or sell more of a certain product, but they don’t state what targets they’d like to reach. This makes it impossible to know when the goal has been achieved.
When creating your goals, you want to assign specific targets that will help you determine whether or not each goal has been met. SMART goals, or goals that are specific, measurable, attainable, relevant, and time-based, allow you to clearly understand how much progress you’ve made towards achieving a set goal. They also ensure your entire team is on the same page and working towards the same ends.
To create a SMART goal, first consider what you’d like to achieve. This could be one of your long- or short-term objectives. Then add specific metrics, such as measurable numbers and a due date, to assign more meaning to the goal. Make it as refined as possible, adding more detail as necessary, until there is no room for interpretation or confusion.
Bonus: Measure Your Progress Towards Your Goals
Once you’ve set your goals and made them as targeted and focused as possible, you may feel like you’re finished with the process. However, your goal-related work isn’t done after you’ve specified what you’d like to achieve. You need to constantly be aware of whether or not you’re reaching your targets, ready to adjust your goals as needed, and thinking about what comes next after each objective has been reached.
Measuring your progress is something you’ll want to do on an ongoing basis. If you simply set your goals and then ignore them, you won’t be able to determine whether or not you’re on track for achieving them in time. Fortunately, Clickx can help you easily monitor your efforts. Using its analytics tools, you can properly monitor the success of your marketing campaigns, and determine whether you’re reaching your goals.
Goal setting doesn’t have to be a daunting task. Instead, the goals you establish should help you move closer to developing the successful company you’ve always dreamed of. When you set strong goals, you can continuously grow your business in the right direction.
Let’s recap the four tips you can follow to create insane business growth by setting more focused goals:
- Create a long-term goal you’d like to achieve.
- Break that long-term goal into smaller objectives.
- Get specific about what you’d like to achieve.
- Measure your progress with Clickx.
How do you think focused goal setting will change the way you do business? Let me know in the comments section below!
Solomon Thimothy is the Co-founder of Clickx, a Chicago-based white label digital marketing platform. He has been in the agency space for over a decade and has helped 100s of entrepreneurs build 7 and 8 figure agencies. He helps agency owners on a 1:1 basis to scale sales and fulfillment. Follow him on twitter @sthimothy