5 Step Guide on How to Achieve Business Goals in 2020
Article by Dianne Brown
The New Year tends to bring with it a desire to change; a desire to try new things and for most of us, the desire for a fresh start? That’s why we make New Year’s Resolutions. So, now that we’ve resolved to lose weight, join the gym, get a better life balance, what goals have you set for your business? Follow our step by step guide outlining how to achieve business goals this year and every year.
Understanding Your Business’ Needs
You may want to improve profitability and cash flow, grow or contract, employ or remove staff, relocate, change your product or service mix. Perhaps you’ve even decided you want to sell your business. Without firstly identifying your business goals and developing strategies and action plans to achieve them you run the risk of 2020 passing you by as… just another year.
So, give yourself and your business the best start you can and ensure your business goals become reality by developing your strategic business “one-page” plan.
Follow our 5 step process on how to achieve business goals to ensure you make the most of what 2020 has to offer.
Identify where your business is NOW. What key issues are you facing that need to be resolved? Set goals to resolve current issues so you can swiftly move past these obstacles. If you find you’re too embedded in your business to view this clearly, consider business advisory for strategic planning, advice and strategy execution to get you on your way.
Identify WHERE you want your business to be at the end of 2020. What does it look like in terms of turnover, staffing, clients, technology, processes and profitability? Set goals that encompass WHERE you want to be. Be specific. Make them SMART goals, Specific Measurable, Achievable, Realistic & Timely.
Identify HOW you’re going to get there. Set key strategies, broken down into detailed action items with allocated responsibilities and timing. Summarise this in your “one-page” strategic plan.
How do you know your strategies and actions are working if you don’t track them? Ensure you set yourself operational and financial KPI’s to track your progress against your goals.
Implement and review. Ensure you are reviewing your KPI’s and “one page” strategic plan on a regular basis – at least monthly. What’s working? What’s not working? What do you need to change to stay on track to achieve your goals?
Let Us Help You Achieve Your Business Goals
If you’re still wondering how to achieve business goals or if you need assistance mapping out your pathway to business goal success in 2020, please don’t hesitate to contact us or Dianne Brown directly on 0404 016 808.