One of my mastermind group members is working on her business goals for next year and she brought up a good question: How, exactly, do you set goals for your business?
The first step is to realize there are categories of goals. This helps you to focus on goal-setting in a more structured way.
Here are the categories I use, and some of the items within each category:
Financial goals: revenue, expenses, profitability, investment, tax strategies.
Infrastructure goals: systems, processes, software, hardware, etc. that help you run the administrative side of your business. What tangible items do you need to acquire? What processes do you need to add or modify to run your business more efficiently and effectively?
Overall marketing, PR and sales goals: number of clients, number of new clients, number of renewing clients; increased media exposure. Number of prospects, number of proposals going out the door.
Internet marketing goals: website visitors, social media connections/likes/followers, email marketing open and clickthrough rates, online ad statistics.
Product/services goals: Are there any new products or services you’ll be offering next year? When would you like to launch them? What market share would you like to have among your competitors? Are there any products or services you’ll be modifying or removing next year?
Customer service goals: Is there anything you’d like to add or modify that will enhance the customer’s experience of working with you?
Team/staffing/leadership goals: Which new team members would you like to add, as employees or subcontractors? Anyone you need to let go of? Do you need to make changes to the way your team does their work or reports back to you? How is team culture and morale? Are there any team members who merit some additional mentoring?
Personal goals related to your business: How many hours of work a week? How do you want to feel about your business? Which personal values are brought forward through your business? What would you like more of? Less of? And the big question: WHY are you in this business? What’s your personal goal?
It’s never too early to begin thinking about what would make next year amazing for you and your biz! This is a great list to share with your mastermind group members if you work with small business owners.