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How to set good business goals,

Guest post by: Jennifer Nuce

Article Overview: Take the guess work out of setting business goals, this article will give you an outline of how you can get started on setting some good business goals today. What to look at first, and recommendations to help you along the way. Cheers to your success~!

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How to set good business goals,

Everyone knows they should set "good" business goals. But what exactly is a good business goal?
Good business goals start with your vision and mission. First get back to your roots. What is this business all about. The vision and mission should have real meaning, not just be there because everyone else is doing it and we need to put that plaque on the wall.
Look at the following categories, Finances, Systems & Processes, Technology, and People. Then break it down even further into categories associated with each heading. Write it all down immediately.
Finances: This includes everything associated and related to; Sales ,Marketing, Search Engine Optimization, Cash Flow, Profit Margins, Budgets.
Systems & Processes: Company policies, rules, operating procedures, standards,
Technology: Computers, Phones, Software, Website functionality, Applications.
People: Education, Coaching, Reviews, Support, Training, Opportunity, Team Health.
Next comes the fun part. Take an inventory of each area and start with Finances.
Where are you at financially? get a really good idea of the health of your business. If you need help with this ask, or research.This is the most important aspect for goal setting in business. Where am I, where do I want to be, and what do I need to do to get there. Use your problem solving and entrepreneur spirit to ask excellent questions and dig a little deeper into the finances, do not just let other people give you the answers without fully understanding it. Examine where your money is being spent, where you money is coming from, how your money is being collected, how effective is your advertising.
Now, this is easier said then done. I highly recommend looking into something like Make My Marketing Work, by Paul Keech. It walks you through every little detail and gives you action items along the way.
This is the foundation of setting good goals, the next step is to actually set your smart goals. Keeping in mind that your actions are the most important aspect. Remember, start at the very top and work your way down the day to day actions that will ultimately help you reach your goal.
If your goal is to make 200,000 a year in sales, what will it take to get there? what will that look like? where are you now? and then set your goals and actions up to support the overall goal.
Goal setting can be complicated and messy, but if you keep it simple and look towards your larger objectives you can get the foundation for your plan and build from there in each department. Always keeping in mind that your financial health is the pulse of your company. People are the heart.

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Home > Leadership > Jennifer Nuce > How to set good business goals >
Article Tags: business, business goal setting, business planning, finance, financial planning, good business goals, make my marketing work, marketing plans, mission, problem solving, small business optimization, small business success outline, success, vision

About the Author: Jennifer Nuce
RSS for Jennifer's articles - Visit Jennifer's website

A professional leadership coach and founder of Level 88 coaching. Jennifer has a background in management in the Financial industry, small business ownership, and consulting, she went on to train at the nationally accredited International Coach Academy, in the Certified Professional Coach Program. She has supported hyper growth companies, through challenging transitions in the current economic climate. Successfully coaching small business owners, leaders, and entrepreneurs in Canada, the U.K., and the U.S.A. and most recently working with one of BC's top 100 companies. Along with her unique coaching model and areas of focus, her patience, wisdom, energy, and flexibility have quickly given her success in the field of coaching. An active member of the animal welfare community, Jennifer supports PETA, WWF, and RAPS, a local no-kill animal shelter. She volunteers coaching services to teenage girls in her community.

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Related Forum Posts
Re: The Best Method for Online Marketing Re: The Best Method for Online Marketing - There is no one "best" solution for all, because each organization is going to have different goals and capabilities. I recently gave a presentation about social media marketing, where I talked about the importance of aligning activities with goals and having metrics that track your progress towards those goals. If you're experimenting with online marketing, there's a good chance you'll find some activities are more effective than others. In my experience, you'll increase your chances for success if you're disciplined about establishing goals and metrics (how you'll measure progress) but flexible on activities as you respond to customer feedback and results. Best wishes for your business! Jay B. (Intuit)
Re: Quote of the Day - "People are not lazy. They simply have im Re: Quote of the Day - "People are not lazy. They simply have im - To stay motivated and work to achieve your goals, first thing is that the goals must be ones that you truly want and believe you can achieve. If the goals are ones that you think you should have,(in other words impotent goals) then forget it, it just won't happen. MichelleJ
Re: Did you meet your goals in 2010? Re: Did you meet your goals in 2010? - Hey Yinka, I met some of my goals, but I didn't meet others. One of my goals was to get out of debt. I managed to do so, only to get back into debt due to an unforeseen circumstance. Business-wise, I didn't quite reach the goals I had; although, I came much closer than I did back in 2009. At least it was an improvement, and I expect to reach my goals for 2011. Best wishes for you, and I hope you can reach all the goals you set.
Re: Did you reach your goal this year? Re: Did you reach your goal this year? - I finally realized the subconcious mind achieves LARGE goals just as easily as small goals. All the RIGHT people are now showing up to manifest my BIG GOALS now. It's been interesting and worth sharing. [Side Note: Be prepared for them when they come. Some ppl think it's too good to be true.] Take it anyway....
Staying accountable for your goals Staying accountable for your goals - Hi Martin, You bring up a good point. Many entrepreneurs set goals and don't follow through because life gets in the way. If it's a goal worth doing then it will be difficult to reach. What we've set up here in Toronto is an entrepreneur Mastermind Group where business owners come together every month to discuss their goals, update their progress, and help each other overcome challenges. It might be something worth looking into where you are. Many of our members have found that talking to friends and family is nice but unless they own their own businesses, they don't understand what you're going through and can only offer emotional support as supposed to practical advice. Good luck!


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