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Goals Versus Resolutions
Written by: Gary SilvermanArticle Overview: It’s mid February and I waited to present this topic to allow all of your New Year’s resolutions to die their natural death. Are you still exercising, how about that healthy diet, did you contact those long lost friends and relatives, have you become kinder and gentler? With all of that kicked to the curb we can focus on the real meat and potatoes of change-GOAL SETTING.
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Goals Versus Resolutions
Do you have clear cut goals for your business? When were they established? If they are more than a month old they no longer apply. The world is changing so rapidly that in order to set realistic goals you need to have a good understanding of where you are NOW. There is nothing more frustrating for you and your troops when the reality of their results is battling unrealistic expectations, effectively neutering your forecasts and goals.
A goal is not a wish or a self fulfilled prophecy it must be grounded in reality. It needs to be the result of a team effort agreeing to its components as they are the ones who will make it happen. These are the 6 goals that need to be addressed.
Financial Goals - Establish a Sales, Revenue and Net profit goal. Depending upon your business it may be established as Daily, Weekly, Monthly or Quarterly goals taking into consideration the seasonality of your business.
Expense Goals- The fastest way to improve your bottom line is to shave expenses. Set benchmarks for each line item as well as a specific plan to make it happen. A good approach to setting benchmarks is to assign a percentage of revenue for each line item, adjust as necessary.
Personnel Goals- Look at your total personnel, their positions, and their promotability. Meet with each manager and have them share their personal goals with you. Commit to help them if they help the company. Developing and promoting people takes your business to the next level.
Customer Goals- What are you doing to improve the experience your customers are having with your company? Design a customer retention program that really speaks to your customer that you care and they are loved.
Business Development Goals- What specific people and efforts are dedicated to expanding your business? Today’s efforts will yield better results in the future just as today’s results were generated from past efforts.
Personal Goals- What are you doing as the business owner or leader to enhance the environment, motivate the team, and guide the company into the future? It’s time for a “check up from the neck up” to quote Zig Ziglar. Get your spouse involved as they will be objective and in the case of mine, brutally honest.
This is a formalized process that must be taken seriously. It’s not enough to create it, you must live it and breathe it. Review them weekly, talk it up in meetings, and track your results. Without a road map for the future your company will flounder. Now shut this off and get started.
Article Tags: benchmarks, business expense, business owner, business today, customer goals, customer retention program, development goals, expanding your business, financial goals, good understanding, net profit, next level, personal goals, personnel goals, profit goal, realistic goals, seasonality, taking into consideration, team effort, unrealistic expectations
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About the Author: Gary Silverman RSS for Gary's articles - Visit Gary's website Based in Atlanta, Gary takes a unique and innovative approach to the daily realities of the business world. A contrarian and eternal optimist his spin on life is always entertaining and thought provoking. With over 25 years as a top executive in the Retail Automobile Industry, Gary is no stranger to cyclical businesses. He focuses on simple solutions with proactive change, always looking for opportunities to expand the business within the business. As a trainer and seminar moderator, Gary tailors his message with a common sense approach to problem solving. Always committed to team building and personnel development, he manages with an eye on reducing turnover by creating an environment that builds a bank of promotable employees, believing this is the most effective way to advance a company to the next level. For the past three years Gary has been committed to measuring the “Customer Experience”. There is more to learn from prospects who are NOT buying from you than those who are. His analysis has been an eye opener to his clients which leads to extensive changes in the way they do business. Click here to visit Gary's website Casual Friday Casual Attitude The Customer Hidden Inside Talkin Trash The Best of TimesThe Worst of Times Part 2 From The Ashes Rose The Phoenix |
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