Friday, June 21, 2024

Business Interactions: Got goals? You should

by BIZ Magazine

It’s a new year and a chance for a fresh start.  Knowing that goal setting is key to success, you have your list fairly complete, right?  Probably not, if you’re like many people.  Goal setting can seem pointless with the uncertainty that we still face.  And while the topic may sound boring, you need to know what you should accomplish this year and your employees need to know where to focus their energies.  Here is a refresher about goal setting.

WRITTEN – It is a fact that writing your goals increases obtaining them by 42%.  The act of writing helps you clarify your thoughts.  Plan a quiet hour to reflect on 2020.  Determine what you want to add, improve on, or change in 2021.  Once you have a clear purpose, determine how you will get there using GSOT.  Hint:  If you lead a team, get their help and buy-in.

  • Goals — broad outcomes you want to obtain over one or more years
  • Strategies — approaches to obtain goals
  • Objectives — measurable steps to achieve strategies
  • Tactics — tools to meet objectives

SMART – Review your goals to be sure they are Specific, Measurable, Attainable, Relevant, and Time bound.  These metrics enable effective reviews to ensure you meet your goals.

CONTINGENCIES – If nothing else, 2020 has taught us that flexibility and creativity are necessary for business survival.  Prepare a Plan B and C for risk management purposes.

MEMORABLE – In addition to posting your goals in a highly visible place, create a catch phrase to remember where energies should be focused.  For example, several years ago, my goals were to obtain a Human Resources certification to better understand and meet my client’s needs, be more disciplined in my exercise, food choices, and sleep schedule, and increase my gross income by 15% over the previous year.  At their basic, my 3 goals were a healthier lifestyle, more income, and increased knowledge.  Suddenly, I had my memorable goal mantra for the year: Healthy, Wealthy and Wise.

REVIEW – Regular reviews of your metrics helps keep you focused and provides the information to make changes or move to Plan B or C if necessary.  In your review, include potential effects of the ever-changing economy, markets, local situations, and competition.  This is called an external SWOT assessment.  (Strengths, Weaknesses, Opportunities, and Threats)

ACCOUNTABILITY –  Share your goals with your mentor, spouse, best friend, or business partner and ask them to help hold you accountable.  Schedule a meeting at least once per quarter for review and course correction if necessary.  Don’t have a mentor?  Perhaps that could be your first goal for the year.

“Got Milk?” the ad said.  The message was that milk is good for your health.  Got Goals?  Well written, SMART, and memorable goals are good for your business’s health.

Teri Haynes | Business Interactions, LLC | Improving human interactions in business

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