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Business Goals: The Perfect New Year’s Resolution

With Thanksgiving behind us and Christmas around the corner, we’re rapidly approaching the start of a new year. The New Year brings a time for reflection and goal setting—not only for our personal aspirations, but for our businesses too. Goal setting and reflection might sound obvious, especially for business owners. But, as the busyness of the holiday season sets in, these important practices are often the first ones to get left behind.

In case you need convincing, here’s what goal-setting and post year reflection can do for you.

  • Opens channels of communication

When businesses and their team members have real goals that they are actively working to achieve, the more likely it is that all members—employees, team leaders, supporting staff—will be able to picture the end result, while knowing what their role is in reaching the goal. Behind a true and realistic goal is a strategic framework with clear and achievable steps. As these goals and their plans are developed and presented, uncertainty is replaced with clarity.

  • Evaluates progress

Goals that are consistently evaluated act as tool for measuring success, both for long-term growth and efficiency as a team. Businesses that plan for the long-term usually set goals for the next three to five years. These businesses and organizations will have a clear and unified vision well into the future. Working towards a goal also helps evaluate your cohesiveness as a team. Setting goals together allows leadership to see who’s on board and who is not.

  • Allows you to pivot when necessary

Planning for the future can be difficult, especially when you are working in an ever-evolving industry. Having future-oriented goals is great, but the real value of these goals is that they keep us aware. Reviewing and reexamining goals each quarter allows for businesses and organizations to make changes when necessary. Perhaps your team is growing or reducing, or maybe there has been a major shift in the industry. Whatever the change might be– the goal, or the strategy behind the goal, can be edited for success.

So, we’ve convinced you that goals are good. But, what do you need to do to set them?

  • Identify your organization’s SLOT

A SLOT analysis, which can be done in many different ways, recognizes an organization’s Strengths, Limitations, Opportunities, and Threats. This type of study helps a business get clear about what they are good at, what they can improve upon, and where they want to go in the future. Identifying key strengths and opportunities serves as a natural way to set goals for the future while forecasting potential challenges.

  • Plan your strategy from beginning to end

Goals can seem overwhelming at first, that’s why breaking them down into small steps is so important. When it comes to goal setting you want to think about your time frame. When will you start taking steps to achieve your goal? When do you want to be finished?

Once you have a timeline, start thinking about the people who will be responsible for each goal, what role they will play, and what they need to get the job done. If you are a leader or business owner, don’t be afraid to get each employee involved! When employees feel invested in something big, the harder they work to achieve the desired outcome

  • Celebrate small successes

Goals can be simple, but achieving them is often complex and multi-facetted. To keep from getting discouraged, it’s crucial to take time to celebrate small achievements that get you closer to your desired outcome. It doesn’t matter how you celebrate as long as you pause and acknowledge the work that’s pushed you a little closer to your goal.

At Quadrivium, we’re busy setting our goals for 2018. Share yours with us too!

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