Five tips to set effective goals | SupportBiz

Managing Growth

Five tips to set effective goals

 
Goal-setting is a very important aspect of running a business. Both long-term and short-term goals provide direction to the business. Goals serve as a benchmark to measure actual performance, and improve on it or make changes wherever necessary.

 Here are five important tips to help you set and use goals most effectively for your small business. 

Be realistic

Be realistic in the setting of goals. Fix goals which are not too high and unachievable, but which have a fair chance of being achieved and are a fair bit above your current level of performance. Setting up unrealistic goals will only set you up for disappointment and loss of morale.

Be specific

Make your goals specific and measurable. Do not be vague in the setting of your goals. Specific goals will help you measure your progress, and know whether you need to step up your efforts to achieve them.

Set timelines

Goals without timelines are like races without an end point. Ensure that you set up realistic timelines for each of your goals.

Review

It is essential to review your goals as well as their achievement from time to time. On a periodic basis, analyse the performance of your organisation and compare it with the goals set beforehand. See how your business matches up to your goals, and take measures to improve on performance, if required. Also, it might become necessary to revise your goals, as per changing circumstances.

Celebrate achievements

It is a good idea to celebrate the goals that you and your team have achieved. It helps boost the morale of the employees, and inspires them to further improve their performance. Moreover, it gives them a sense of having contributed to the overall growth and good of the firm.