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5 Secrets of Goal Setting for Successful Business Owners

For most businesses – especially those just starting out – there is one main goal, and that’s to make enough money to stay afloat. Beyond this, however, in order to continue to realize success, all businesses should have a set of real, strategic objectives that they’re working toward. Here’s why setting goals is so important to your organization.

They give you something to measure. Napoleon Hill once said, “A goal is a dream with a deadline.” Without real goals, you’ll have nothing to measure and no real way of knowing what you’re doing right and what could use a little tweaking.

Goals help develop and foster teamwork. Setting, communicating and measuring goals is an excellent way to bring everyone on your team together and get them working collaboratively and cohesively toward achieving those objectives.

They help to identify areas of need. Without real, measurable goals, how can you know if what you’re focusing your efforts on is really achieving results? If you don’t understand exactly what you’re working toward, it’s much more difficult to identify areas where you’re wasting time, money and other resources.

Goals provide motivation. Lofty objectives, like “increasing sales” or “growing your team” don’t really provide any motivation for achievement. That’s because they are vague and non-measurable. With real goals in place and deadlines to back them up, you’ll know what needs to be accomplished and by when, which will provide the push needed to actually get things done.

Goals help to bring the big picture into focus. When goals are defined, communicated and put into motion, you and everyone on your team will be better able to see how every business decision affects those goals and the role each individual plays in the big picture of success. For instance, by defining a budgetary goal that includes both revenue and expenses, it becomes much clearer how things like making large purchases and landing that new big client can directly affect the end result.

While every business is different, and will have unique goals to work toward, one thing remains constant across every industry and business size: the need for setting and achieving strategic, measurable objectives. Only by doing so will you be able to continue to realize success and drive the future growth of your business.

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