Discover The Importance Of Goal Setting In Business And How To Set Them
When coming to the end of the year it is important to set targets for the upcoming business year so discover the importance of goal setting in business.
Hi Trish Davies, here from TrishDaviesInternational.com. For many business owners it will be a relief that 2020 is coming to an end as it has been an unprecedented year. I hope that you have been able to ride the storm that Covid-19 has unleashed upon the business world.
It may have forced you into a space of adaptation with the change of business practices. Maybe you have been forced to change your entire business model which entails learning new skills.
On the flip side though you may have seen your business grow as out of every crisis there is opportunity. Whatever position you find yourself in the past is the past and it is time to look forward.
I am sure that you are like me at this time of the year when it comes to reflection and looking forward. You must assess how the year has panned out for you and then set the goals for next year.
I know that the pandemic situation is fluid, and it will be here for the foreseeable future, but things will get better. The are positive vibes coming from all around the world with the development and implementation of vaccines.
These will become the lifeblood to the world and help things get back to some kind of normality. So, you must take those positive vibes and transmit them into your business. You do that by setting goals and I am going to share with you the importance of goal setting in business.
The Importance Of Goal Setting In Business
As I have mentioned this is the time of year that I focus on what I want to achieve next year. In my opinion 2021 will be a year of opportunity and it is something that excites me.
I have a number of business interests offline, online and in different parts of the world. From real estate investing in the United States of America, corporate training in Australia and worldwide digital businesses. They all keep me busy but to survive they all must keep moving forward.
To help with that process I sit down and set goals for each and every business for the coming year. This is also a topic that I raised within my Build Your AU mastermind program just last weekend.
I set my members a task which was to complete a goal setting worksheet which they can work to in 2021. To find out more about what I asked them to do click here to read an article that I published on BuildYourAU.com.
That will give you some valuable insights on what you should be doing to set goals for the next business year. Some actionable steps that you can implement straight away but today I want to concentrate on the importance of goal setting in business.
Setting Goals Gives You Focus
You may be a solopreneur or have a number of employees but what everybody needs is focus. The next 12 months could be the most important period for your business. Therefore, you must have a clear direction on where you want to be heading.
That direction can be broken down into many different areas and within those area are tasks to be completed. Your goals will define which tasks take priority and must be completed to move you forward. This will focus you and everyone around you as to what you must do.
Keeps The Motivation Levels High
Now that you and everyone around you has focus you will find that motivation levels will increase. If the goal is clear and there is a plan in place then people are eager to reach the final end goal.
There will be tough times in the future. However, if you constantly tell yourself why you are doing what you are doing that keeps the motivation high because of the reward at the end.
Goals Help Teamwork
In all probability you will have a team that is assembled around you. They may not be physically next to you on a daily basis, they may be virtual spanning the world. I know by experience as I have a team of people in the United States who help run my real estate business.
Also, I have people all around the world who work within my online digital businesses. One thing I have embraced is building that team as you simply can’t do everything yourself.
When your business has a goal then your team will work together to achieve the goal you set. It builds a sense of togetherness, an environment where people know they have support from their peers.
If you offer a collective reward for reaching the goal then it encourages your team to work together. They all have a vested interest to accomplish and then receive their reward.
Building a team is also good for morale as each member will take ownership of their role. That makes them feel special, important which makes them take pride within their work.
Goals Are Measurable
So, what do I mean by measurable? When you set your goals, you will look at a specific timeframe to reach your goal. That timeframe will consist of action steps that need to be completed in a specific order.
Attached to those action steps will specific outcomes. Overall, you goal will be broken down into stages and those stags include the action steps and required outcomes.
That is why goals are measurable as you will have a clear plan. What you need to do is look at where you are and where you should be. If they are aligned then all is good, if they aren’t then you must take the necessary action to get back on track.
This has just reminded me of a video that I created a couple of years ago on the importance of keeping on point with your goal.
How Important Is Setting Strategic Business Goals?
By now I am sure you can see the importance of goal setting in business. If you have any views on what I have shared with you today then please leave a comment below. The most important thing though is to start setting those goals for next year!
A life of freedom and choice
Trish Davies
Trish Davies International
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