Fulfilled goals are a sign of success. In managing a small business, goal setting is a way to track progress and direction. Unfortunately, many businesses have been so used to setting goals that are unattainable and could lead to discouragement. To put an entrepreneur and their team’s perspective on the right track, here are some tips for effective goal setting:
Determine long-term and short-term goals.
Setting a timeline for goals is important. In order to keep the team on their toes, the key is to decide which of the goals are for the long haul and which ones should be achieved in the next weeks or months. Differentiating will help the team focus on the task at hand while planning in advance for the not-so-urgent ones.
Set SMART goals.
The acronym SMART stands for specific, measurable, attainable, relevant, and time-based. Having this guide in mind will help in sorting which goals are really worth pursuing. It might take more time to list the goals, but the team will have a better idea on how they’ll work to achieve it.
Have accountability meetings dedicated to setting new goals and tracking the team’s progress.
Transparency is important in accomplishing goals. Instead of having a quarterly or a yearly goal setting meeting, why not make the gatherings more frequent? It doesn’t have to be long. The purpose is to track the business’ progress with the rest of the team. When some goals no longer fit the bigger scheme of things, the group can deliberate on whether or not to keep at it. When the team hits a target, this is also a good place to announce and celebrate it.
Keeping track of progress is important to gauge the growth of a business. When teams know their aim, they’ll have better chances of hitting it.