A recent survey of small business owners reflected that an alarming percentage, 80%, do not keep track of their business goals. Perhaps unsurprisingly, then, 77% of them reported that they have not achieved their vision for their company. We are taking August to discuss the goal setting process and how to do it successfully. The first step is to Review.
The goal review is crucial, especially at this time of year, which is for many, the start of a new fiscal cycle. Even for others, it is important to reexamine goals that might have been set in January, seven long months ago. A lot can change in that amount of time.
First, evaluate the short-term goals that you had hoped to accomplish by this point in the year.
Next, invite your team to participate in the process.
Finally, share your opinions on where the company’s short-term goals stand. Your team will appreciate your openness, learn from your guidance and, hopefully, feel compelled to work collaboratively to help you progress towards the end of the year. If you share with them how the short-term goals contribute to the long-term vision for the company, they will feel like valuable members of a team working towards a greater whole, and productivity might even accelerate.
Short-term goals should generally be attainable in a three-month framework, and they should be set with success in mind. For example, several smaller goals can be reached more quickly and effectively, creating feelings of achievement and victory among employees. This positivity creates better company culture and helps all parties involved do better work and actually enjoy the process.
There is a lot to be learned by pushing the pause button and asking everyone to take stock of progress. It’s time to Review.
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