Setting Goals For Your Business | CPA in Baton Rouge LA
No matter how impressive your vision for your company may be, success requires hard work and strategic planning. Highly successful business owners learn to set goals realistically and effectively. Mastering the skills of effective goal-setting, strategic planning, and assessing goals will help you to find greater success in your business and develop great business management skills.
Set Incremental Goals
Start small when setting goals by establishing daily and weekly goals. It can be easy to let ambition take over while you dream of long-term goals. However, you cannot reach your long-term goals without smaller victories along the way. Setting smaller, incremental goals provides the opportunity for you to be in consistent control of your business. You will know if you miss a weekly goal, and you can then adjust your strategy to make sure your team can stay on track moving forward. If you are only setting quarterly or yearly goals it can come as a surprise when you miss them, or your team might be left struggling to meet them in the eleventh hour.
Make Goals Visible
You and your team need a visual reminder of what your goals are and when you plan to achieve them. Put them up on a bulletin board in the office, or include them on your calendar. Write your goals in a place you look at daily as a consistent reminder. We all have those back-of-the-mind thoughts or ideas that might be good if implemented, but they are frequently forgotten. A thought without a goal or deadline is merely a wish. Our CPA in 70808 wants you to make your goals visible to you and your entire team.
Measure Your Goals
How will you know if you achieved your goal if you cannot measure it? Goals should have a measurable standard. Perhaps your goal is to see a 20% increase in your monthly new client numbers in a 6 month time frame. By defining specific numbers and time frames, your goals will lead to action. Abstract goals are often set and missed. When a goal is clear and measurable, you can more easily create a plan that accomplishes the goal at hand. Once you’ve set measurable goals, make sure you have a method for evaluating them. Will you be reviewing your progress weekly, monthly, or quarterly? The time frame will vary based on the size of the goal and effort needed to evaluate change.
Evaluating your goal setting protocol will help you to identify areas of opportunity and areas that need improvement. It will help drive the success of your business. Contact our accounting firm in Baton Rouge, LA and let our experienced CPAs help you with your financial goal setting.