How to Set Realistic Business Goals -and Keep Them
Updated: Nov 22, 2021
How to set realistic business goals and keep them. Business strategy for your Branding.
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The time to set your business goals for 2021 has arrived. Here’s how to set realistic business goals and stick to them to bring them into reality for your business brand. Sounds great right? Now here’s the part that will set you up for success. Before you begin to strategize your goals for 2021, take a moment to reflect on the past year. Take stock of what went well for your brand, and what just…went. Revisit your business plan with fresh eyes, examine your business strategy and review your products or offers. Once your audit of last year is complete you can dig into setting juicy business goals for the new year.
Stay tuned for my tips to audit your brand, set realistic goals – and keep them!
How to set realistic business goals – and keep them
First : Why you should set goals for your business
Simply put, realistic goals provide direction and a method to measure the performance of your business during the year. Long-term goal setting will help you to phase-plan your projects. By breaking them down into actionable steps you avoid overwhelm or making costly mistakes along the way.
Clear, realistic goals will also help keep you & your employees motivated and in the right mindset to move through smaller tasks in order to hit benchmarks for longer term goals. Establishing goals helps to keep everyone on track. When everyone knows the endgame, it is easier to stay on task, contributing toward long-term brand growth.
Since goals are measurable, they are an excellent benchmark to gauge the success, sales, and the growth of your brand. Meeting your goals (or not) will tell you what is working well in your business and what needs to be tweaked, allowing you to maintain quality standards across your brand.
Measurable goals mean more accountability and encourage you to form habits to help you achieve your set goals. Your goals are an excellent reminder to stay on track. They are proof that you do not need to be everywhere – you just need to set your priorities and stick to them.
Now that you understand the benefits of setting realistic business goals, you can begin to examine last year’s performance using the above benchmarks. If you feel stuck and need ideas for your business goals, read my last blog post with 3 tips to level up your brand for 2021.
Second: Audit your previous year
Reflection does not come naturally to me. I tend to focus on the future, ever moving in a forward direction. I learned the hard way that while my perseverance and planning work to my advantage in many aspects of life, when it comes to business, they can inhibit real growth. Before you can set realistic goals for next year, you must look back on the past year. Review your challenges and your success. Where did you experience the most growth? What held you back from achieving your goals or did you surpass them? If you did not reach your goals, what can you do differently to set your brand up for success next year? Consider your business plan and strategy, dive into customer feedback if necessary to provide more clarity.
Third: It’s time to set your business goals. Here’s how to set realistic goals – and keep them.
1. DEFINE YOUR BUSINESS GOALS
Based on your audit you are now in a position to select realistic goals for your next year of business. Consider where you’d like your brand to be a year from now and how these goals support longer-term goals for your business in general. As I consider my business goals I also take into account personal goals such as personal development, family, and health. In this way, I can ensure all aspects of my life are supporting one another to be successful and stay realistic.
Using a journal or my Business Brand Plan E Book write down your realistic goals for the next year. Here are a few ideas to get you rolling along.
Would you like to be working in your business full-time?
Would you like to work less, travel more?
Are you ready to scale your business and hire your dream team?
Set goals that are meaningful to you. Remember earlier when I mentioned that goals help to keep you motivated and in the right mindset to succeed? Truly believing in your goals will help you through the inevitable slumps and slow periods every business experiences during the year. It will also help you to avoid burnout.
2. ACTIONABLE STEPS
Remember my pep talk above about why you need to set goals for your business? The key to achieving larger long-term goals is to break them down into actionable steps.
For example while,” Scale my business", "Grow my blog" and "launch new products" are admirable and achievable goals, they are broad and without an actionable plan can be too daunting to achieve.
Break down your goals into smaller actionable steps. What steps do you need to take to hire that first person? What is the first new product you will launch and what is your step by step launch strategy? What is your monetary goal for your blog? Start by setting a smaller goal to hit 2K readers – what are the strategies you need to follow to attract them to your site?
3. LOVE YOUR GOALS
Now you are really getting excited about your new business goals and ready to remedy and capitalize on what your audit revealed. As you do this ensures that these new goals align with your "why" the grand purpose and larger mission of your business. Since these goals resonate with you personally and professionally you will be sure to set realistic goals you will actually keep!
This is how I select my business brand goals and keep them. First I hone in on 3 or more goals that align with my personal and brand vision. I focus on goals that feel exciting to me. EVERYONE needs to find an accountant or get organized – this is not a business goal, this is a to-do list task. Instead, focus on goals that inspire you and support your brand.
For inspiration, I recommend my most popular blog post with my top Personal Branding Secrets.
4. PROGRESS CHECKS & REWARDS
Don’t let all the work you have done go to waste. Set a reminder at the start of each month to review your progress so far. Remember to be kind to yourself in your evaluation and take into consideration anything that may have slowed your progress. Celebrate the completion of each actionable step and meeting your goals! Reward yourself with a treat, a day off, or share your success with your clients – they will celebrate with you!
If you need help to set your goals for next year, let’s chat. Book a call with me here or download my Business Brand Plan E-Book and get started today!