The best way to have a great year is by setting goals for yourself. Whether you want to grow your business or take more time away from work, these proven tips in goal-setting can help make it happen!
- Think big! – What do you want from your life – and how can your business help you achieve that? Think about next year and beyond; what does your business look like in five or 10 years? When you know what end point you’re aiming for, it’s easier to set goals that move you in the right direction.
- Pick something you can measure – Vague goals aren’t as helpful as those you can measure and monitor. Think about what you already measure in your business and how you’d like to see those metrics change. For example:
- A 3% increase in net profit year-on-year
- A 2% reduction in expenses
- 1 new customer per month
- Reduce average payment time to under 50 days
- 4 weeks of holiday during which you don’t go into the office at all
- Make a plan to achieve each goal – Once you’ve picked a few goals, come up with ways to achieve them. It could just be back-of-the-envelope thinking, or have a brainstorming session with your team or your advisers (give us a call!). When you have a plan in place, do your best to follow through and make it happen.
- Keep monitoring your progress – Check in each month to see how you’re tracking with your goals. Set yourself reminders on your calendar or make it part of your invoicing cycle. If you’re not quite on track, you can make tweaks or come up with some fresh ideas to help you reach your targets.
- Plan a celebration! – Give yourself a good reason to keep striving for your goals. It might be a long lunch, a trip to the movies, a manicure, or a beer advent calendar next December. Something you’ll enjoy that’s not going to blow the budget.
If you want to achieve your goals, it’s important to set them up in a way that makes them achievable. These five tips for goal-setting should help get you on the right track. But if you find yourself struggling to see where your business is headed this year, don’t worry! We can help. Book a free, no-obligation, discovery call so we can assist you in reaching your business goals for 2023.
Are you still looking for the right questions to ask yourself to help review your business performance last year? If so, we recommend reading this next article.
Are you struggling to make your business work?
Insight CA Limited is a team of experienced Auckland-based chartered accountants and business advisors who can help. We’ll give you the power to see what’s really happening in your business, so you can take control and start making progress. Click here to learn more about how we can help you achieve your goals.
