As a business owner, it’s critically important that you set goals for your business. You need to have a strategy, especially to compete in the digital world. The sooner you analyze what your business can and should accomplish, the sooner you will see the kind of growth you dream of. But that doesn’t mean that your strategy can’t change, or that you can’t reassess your goals as your business grows and changes. In fact, returning to old goals and making changes to what you want to see your business accomplish is very healthy. Now the perfect time of the year to do it. Here are eight reasons to reassess business goals for the New Year.
1. You’ve Already Accomplished Your Old Goals
If you’ve had a productive year and accomplished all of the goals you set out to accomplish, you should feel proud of your accomplishments. But, you shouldn’t let that success slow down your growth in the year to come. If you have accomplished all of your old goals, think about how to adapt them into new goals for the coming year.
2. Your Business is Stagnant
If you haven’t set concrete business goals in the past and your business is now stagnating, the two are probably more related than you might think. Setting business goals plays an important role in helping give your business a definitive direction. If you haven’t seen the kind of growth that you want over the past year, setting new goals for the upcoming year could be just the boost you need.
3. Your Old Goals Aren’t Ambitious Enough
If you’ve set goals in the past and been able to accomplish every one of them easily, you aren’t setting goals for your business the right way. Goals should be ambitious, and should push you to try harder and work smarter to accomplish them. If you are working towards goals that you can easily accomplish without pushing yourself, it’s time for new goals.
4. You’re Not Sure When You Will Accomplish Previously Set Goals
Every goal you make for your business should be linked to time in two ways. You should have a timeline for when you want your goals to be accomplished. More importantly, you should be able to look at your goals at any time and determine whether or not they have been concretely accomplished. In order to meet this second and important test, all of your business goals should be quantified in some way that allows you to follow through. If you aren’t sure if you have accomplished goals that you have already set, it’s time to restructure them so you will know when they are complete.
5. You Have New Critical Team Members
One of the most powerful parts about goal setting for your business is that it brings your team together, and helps everyone who participates in the goal setting process gets more invested in your business. If you have a new crucial team member joining your business, creating new goals will allow them to feel like they are part of your company’s success. Plus, the point of view and knowledge from a new person will help you set even better goals for the new year.
6. The Nature of Your Business is Different
Businesses change and evolve over the course of their lifetimes, and there is nothing wrong with finding a new direction for your business. But moving in a new direction does mean all of your goals will need to be updated to reflect your new choices and goals related to this new direction. If you don’t think you need new goals, your old ones probably aren’t specific enough to your business.
7.Your Business Has a Planning Problem
If you find that making plans for your business is a stressful endeavor that takes way too much of your time, you could be dealing with a goal-setting problem disguised as a planning one. When your business lacks goals, every planning meeting can feel like it gets bogged down in details and loses sight of overarching ideas. When you make your plans around concrete goals, it’s a lot easier to focus what matters and get excited about the direction your business is heading.
8. You Want Your Business to Do Better Next Year
A good goal setting session should give you something concrete to work towards and inspire you. If you want your business to do better next year, you need to be ambitious. It is important to set your mind on achieving the success you want to see. Setting good goals for your business is the best way to create this positive, ambitious tone, and the best way to make sure that you give yourself something better to work towards with a chance of getting there.
If reassessing your current goals is still a challenge, contact us today to find out how we can help you meet, or even exceed, your business goals in 2016.