Why Goals are Key to Building a SUCCESSFUL BUSINESS

Building a successful business takes months or even years of planning, testing the waters and tons of hard work. Success comes paired with challenges and these challenges vary through time and through how you manage your business. One of the most common business challenges, especially a newly established one, is identifying where to take your business next and how to go about it.

For a business owner, surely, one of your goals is to get more people to buy your product or hire your company and make more profit. The problem is sometimes we are so bent on the operations, on getting the numbers right and striving hard to make that sale or close that deal, but we forget about the other aspects of our business. Oftentimes, the downfall of a business is through not being able to set goals and plan the course of action.

Always Start with Setting Goals

Being hands-on with your business is not enough to make it a successful one. You need forecasting, planning, and goal-setting to establish a foundation for your business. Establishing your goals will give your business a sense of direction and it gives you something to revisit when you lose your direction. Goals are highly beneficial not only for you, but for your team. Benefits of setting goals include:

• ACCOUNTABILITY. When you set goals for your company, for a department or an employee, you or these people will feel responsible and will make sure that with whatever strategy they may use, they will meet the goals that you have set. There is ownership, therefore, there is movement. That movement will bring you closer towards success.

• EMPLOYEE ENGAGEMENT. A workplace without a goal is just an office with people working in it. However, if you have central goals and you involve everyone; everyone will work hard to meet those goals. Employees will feel they belong to a team and will create in them a greater purpose and an urge to work harder not only for the job, but also for the good of the whole company.

• COMPETITION. Healthy competitions inspire employees and business owners to do their best and come up with better strategies and more than satisfactory outcomes. It sparks the need inside you to work harder, to persevere so you can achieve the quality of the outcome that you wanted.

• MANAGEMENT SYSTEM. By establishing a set of goals, you can define your objectives and strategies for your business. Once you have recognized these, you can establish a set of processes, standards and guidelines for different functions of your business. You already have a sense of direction and you can already tell what to demand of each business process.

Therefore, you can demand the quality of your service, product and ensure customer satisfaction.

Your Role as Business Owner

You have your goals; you have your team; so you think you already have what it takes to create a successful business. However sometimes, the missing piece is the business owner itself. If you want your business to be successful, you have to willingly improve your own ways of becoming the leader of your business. There may be no template to becoming a good business owner, but for you to be successful, you at least have to be:

• Authentic • Optimistic • Efficient with time • Great at building and keeping relationships • Adaptable • Able to take risks • Not scared of failures • Persevering • Innovative • Full of conviction • Passionate for success

Burdens of Being the Business Owner

With the expectations being set for a business owner, you might feel you carry the weight of the whole world on your shoulders. That should not be the case. You should not be slaving away on the business, but rather, you should use some alternative strategies like entrusting business functions to an expert in setting up businesses like a business coach, business service, or an accountant. Let us admit that we do not know all facets of our business and it is also inefficient to spend so much time learning the ropes when you should be on the next step towards a higher goal. You lose your time, resources and you end up exhausted.

Be wiser with your strategies in implementing your goals by hiring a business advisor who can help you through business set up, business planning up to drafting of goals for you business. This will allow you to win back some of your time for the things that really matter like your personal life, your employees, and your business operations. At the same time, you can get insights on the things that are helpful for your company because sometimes it helps to get someone else’s bird’s eye view of the situation your company is in.

If you need any support with your business plans, goals and strategies, call my office on 3399 8844 and we will be happy to help you with a FREE Business Financial Health Check. You can also visit our website at www.straighttalkat.com.au and complete your details on our Home page to request an appointment.