Business Health Checkup

As the month of July comes to a close, I realized that it has been a while since I’ve discussed the importance and use of goals for business owners. Naturally, we are aware of having goals, most people setting some in their personal lives at various points in time. However, it is just as important to create goals for your business, for the following reasons:

  • Goals provide a way to measure progress over time. How else would you know if your business is successful or not, if you aren’t working toward something in particular?
  • Goals assist you in making decisions. Any immediate question can be addressed by first determining which of the various available options would best help your business reach its goals.
  • Goals provide motivation, in that they stay ahead of you, always pushing you to reach just a little further.

By the same token, it is important that any goals you do set follow the SMART system:

  • Specific: Having a goal which is vague might be of some use, but you can’t use it as a benchmark, and it is easy to change it at will.
  • Measurable: If you want to measure progress, goals, and how you approach them, can be a great way to do this, if, of course, the goals are measurable.
  • Attainable: We all want to reach for the stars, but if you choose goals which are not attainable, they are more likely to discourage you than motivate you.
  • Relevant: Goals must be relevant to the environment to which they apply.
  • Timed: Without a time in which the goals are to be achieved, procrastination will rule the day.

What are you doing with your goals? Are you any closer to reaching them now than you were 6 months ago?