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Many of us here on the site are owners of small businesses or getting a startup up and running. I'm curious to know what goals people are setting for the new year, and whether or not you spend time reviewing your goals and assessing whether or not you are on track to achieving them. Just a quick edit, in case this wasn't clear from the question - I'm referring to goals in your business, or in your professional development. |
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Last year I set broad, non-specific goals and did not end up meeting them to my satisfaction. This year I am more granular in my shorter term goals.
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I always set very specific, reasonably aggressive quarterly, annual, and 3-year goals. I usually set 2-4 company goals at each level. Quarterly ones are very specific and close in the quarter. One quarter may focus on bolstering sales (increase average selling price on new clients by 10%), another on ops (decrease client inboarding time by 10%). They get more "company-wide" for annual and 3-year ones. All get reviewed at least once a month to see if we are on-pace. If there is a team, the goals have a team bonus tied to them; there a 100% bonus, and a 125%+ bonus that is better. Now, as aggressive as I sound, I'm pretty laid back about them. There is a framework, but I don't crack them like a whip. However, I find it easy to set goals and think of them as "north stars" keeping me and my team focused what needs to be done. |
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