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Dec. 22, 2021

Strategies for Setting Effective Business Goals

Strategies for Setting Effective Business Goals

Image courtesy of jacoblund from EnvatoElements

 

If you're a new founder, setting business goals may seem like an intimidating and difficult task. However, it's actually a very important process that will help you focus your efforts and make progress. 

As a new founder, it's important to set goals and identify what you want to achieve. This helps keep you focused and motivated as you work on your business. But goal setting can feel tricky- it's not always easy to know where to start or how to do your business planning.

In this post, we'll share some tips on how to set effective goals for your startup. We'll also share how you can get a handy worksheet to help you get started with this productivity habit! 

 

Strategies for setting effective goals for your startup

The first thing you should do, is to figure out which goals are most important for your business to take on or improve upon.

Ask yourself what goals are most important for you to focus on in your company, and then take some time to weigh the goals that are more important versus goals that are less important.

Once you've identified which goals are most important to focus on, the next step is to break it down to actionable steps using a goal-setting method.

I recommend doing SMART goal-setting as it's an easy method to use and update if you want to make changes and it helps you measure your progress.

 

 

Image courtesy of friends_stock from EnvatoElements

 

 

Setting SMART goals

SMART goals mean that you're creating (S) specific, (M) measurable, (A) attainable, (R) relevant and (T) time-oriented goals.

There are a few key strategies for setting effective goals using SMART.

The first is to make sure that your goals are specific and measurable. This means that you can track your progress and know when you have achieved your goal.

The second strategy is to make sure that your goals are challenging but still achievable. This will help ensure that you are motivated to work towards your goal.

Finally, it is important to set a deadline for your goal. This will help keep you focused and motivated to achieve your goal.

 

Steps to setting a SMART goal effectively

1. Decide on an outcome you want to achieve for your company. Be specific about what success looks like


2. Determine a realistic time frame to achieve this outcome (goal). Make sure each gal as a well-defined end-point


3. List any specific, measurable steps you need to take in order to achieve that goal 


4. Create a timeline of these steps, including deadlines, and place them on your calendar

 
5. Evaluate progress frequently so that you can adjust your strategy as needed. Keep it realistic so there's room for growth


6. Celebrate when you reach your goal and milestones along the way! Then set a new or growth goal for that area

 

 

Get your free goal-setting worksheet

No sure how to start? Get your free goal-setting worksheet to help guide you.

 

 

 

Want to hear more on this topic?

Do you want to hear more about this topic with specific examples? Listen to this related podcast episode, The Write Way to Set Goals, for more:

 

 

We discuss in this episode:

  • Why it's important to set goals in writing. (6:06)

  • Why writing goals down leads to success. (9:18)

  • Learn what the leading business coaches agree on when it comes to goal setting. (10:29)

  • What research shows about the success rate of people who write down their goals. (13:05)

 

Do you already use SMART goals to set your goals? Please let us know what you do to plan your goals in the comments below!