New Year's Resolutions: Business Growth
As 2019 begins anew, it's time to look at your New Year's resolutions, including where you want your business to go this year. But part of being in business means making intelligent decisions and developing a plan on how to reach your business goals. One option to consider is setting up SMART goals for business. Here's a quick look at how to set up this type of goal and see it through to fruition, helping you achieve solid business growth this year.
S is for specific: It's easy to say that you'll grow your business this year, but by how much? A specific goal would state that you want to grow gross revenues by at least 8% over the next year, or increase your customer base by 10%.
M is for measurable: How will you determine if you're making significant progress? What metrics will you use to determine your success? You need to make sure you have a way of measuring success.
A is for attainable: Is your goal achievable? If you're trying to add a new location or grow your market share in the single percentages this year, it's entirely possible. If you're trying to put a person on Mars, probably not. It's important to consider whether you can reach the goal.
R is for relevant: Is the goal relevant to your business' overall needs and direction? You could put together a goal that you'll collect a white elephant gift from every state in the US, but it probably won't grow your business.
T is for timing: Are you expecting to accomplish too much in too short a period of time? By making sure you have sufficient time to accomplish your goal, you're less likely to end up missing the deadline.
By taking the time to set up SMART goals for business, you can achieve strong business growth in the upcoming year without wasting a lot of time trying to figure out what direction you need to expend energy in. But what if you're not quite sure whether your business goals can be attained or not? At AccountRely, we have a range of business professionals standing by to help you determine a plan and overall strategy for business growth this year. Please feel free to contact us today to get started.
