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Goals Versus Resolutions

Written by: Gary Silverman

Article 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.

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.

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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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New Year's Resolutions? - It's getting close to the New Year. Do any of our Young Entrepreneurs out there care to share their Resolutions...or goals...for the upcoming year? And what plans do you have to make those goals become a reality?
Re: Alexa Ranking Goals - Thanks GT! This is still the right post for Alexa Goals but everything else can go to Kevin's Mastermind post! Cheers!
Re: Alexa Ranking Goals - Hi Timothy, It's good to see a new "competitor" on our Alexa Ranking Goals list. Good luck in your efforts to improve your website Alexa rankings. David
Re: Quote of the Day - Ted Turner - Hi Evan, I mentioned on another thread that I'm reading Saint Joan of Arc by Vita Sackville West. I think Joan of Arc set some pretty high goals, for an unknown peasant girl from an unimportant village in the middle of nowhere much... Goals: 1. Go and see the Dauphin! 2. Help him relieve the siege of Orleans!! 3. To lead the Dauphin to his coronation at Rheims!!! The first time she tried to put this plan into action, by seeking permission from her local feudal lord to travel, he told her minder to "reduceret eam ad domum sui patris et daret ei alapas" which is to say, "take her home to her father and give her a smacking". The rest is history!
Re: Should you hire ambitious workers or employees with no goals - [quote="BuzzAroundBooks":2ijq3b5e]As a small business owner, should you hire ambitious workers or employees with no goals? My friend's father is a relatively successful entrepreneur and it's his belief that you should primarily hire employees with no ambition because you can get away with paying them less and they're less likely to leave (thus saving you money from a high turnover rate). "Grunts" are the way to go, even though ambitious workers are typically smarter. What do you think?[/quote:2ijq3b5e] I say YES to hirin employees with no Goals!!! they make great "front-line" employees as long as you have carefully documented your process for them to follow. They typically are open to perform routine administrative tasks and they work for a much lower wage. I know what I've said is pretty gloomy but it's reality from my experience. Occasionally one of the "employees with no goals" will stand up and say, "I love working here". You pluck these individuals and promote them to tasks which require more decisions.


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