The Importance of Goal Setting
In the world of SMEs, effective goal setting can provide the fundamental basis of success, by enabling improved time management, business progression and an increased sense of self-belief.
The importance of setting clear goals and deadlines is crucial to any business owner when dealing with the overwhelming noise of day to day corporate culture, which can distract from working towards the end result.
1. The benefits of goal setting
In a digital age where we are overloaded with information, getting clear on the outcome you want and breaking this down into achievable steps serves as a good filter to guide what deserves your time and attention. It also allows us to check back in on the purpose we set for ourselves when we get off track.
Another benefit to goal setting is that if you don’t meet a particular goal, it isn’t an automatic failure but an opportunity to alter the steps you’re taking, keeping yourself accountable to a timeline or result regardless, as opposed to operating on autopilot.
Setting clear goals also enables business leaders to choose and reach their business destination, whether that involves specific financial returns, number of employees or level of output. This also enables clear tracking of achievement, progress and business growth over time.
2. The most effective ways to set goals
We’ve found that setting goals effectively can be approached by reverse engineering a dream.
Firstly, get clear on what you want. Work out why you want to achieve this particular outcome so that you don’t lose sight of your motivation.
Secondly, there’s a reason why the saying, ‘it’s not a goal until you write it down’ may resonate. Physically writing something down generates increased impact. How about displaying these goals where they can be seen each day? This can be far more effective as opposed to leaving goals saved in a document you may not think to open everyday.
Thirdly, make your goals personal. Start by focusing on a goal that matters most to you and the growth of your business, avoiding any temptation to compare with competitors or distract yourself with what others are doing.
Lastly, start as early as you can. Now is better than never. We encourage our newest and youngest employees to start this goal setting process as early as possible in order to make the most of the time they have to progress throughout their career.
3. The role goal setting plays in a leader’s self-belief
Often the biggest obstacle leaders will face in their careers is their sense of self-belief. Often this is defined as their vision or what they consider realistically feasible to achieve.
If you look at most successful corporations, CEOs often did not foresee the extent of success they experienced; their original goal may likely have been on a much smaller scale.
For this reason, it is important to keep continuity of self-improvement by consistent revision of the goals you set. This regular review and refocusing will help to minimize doubt or ‘external noise’. Creating goals that are scalable over time will reduce any overwhelm that may be caused by setting goals that seem unreachable.
Clear goal setting early in the piece, will not only motivate your direction on an individual level and serve to keep you accountable, but also help build the framework from which to develop strategic business plans over time.
A defined pathway will also outline what sacrifices you may have to make along the way, while providing a clear reminder of why you have set these ambitions for yourself and your business.
Lets kick goals together! Fill in the below questionnaire to book in a FREE 1 hour consultation with one of our business experts. We will help you plan out your goals and steps to achieve them, so you can feel at ease that you on the right path to success.