06 July 2022

Your business and personal “why” should be the north star that guides your business

As a Business Coach, I’ve encountered a few business owners who didn’t seem to have the slightest clue as to what their objectives were. Can you imagine that? Investing your time, money, and energy into something without knowing what exactly you’re aiming to achieve. Clearly, it just doesn’t make any sense.

You don’t just go out there, into the dog-eat-dog world of business, without establishing specific goals for yourself and for your company. Not defining your objectives will almost certainly cause your business efforts to scatter all over the place. You’ll notice how successful businesses seem to have a clear and central objective because everything they do is directed towards achieving that.

Create a pathway to success

The thing with most business owners is that they tend to get caught up with small and sometimes trivial goals that don’t really contribute to the overall success and growth of the company. This is a direct result of not having a clear set of objectives from the start. Once your personal and business whys have been established, it’s much easier to map out a path towards those goals.

Shared goals promote collaboration

One of the common reasons why team members become demotivated and unwilling to put more effort into their work is when their boss is ‘out of touch’ — meaning, no clear goals have been established by that person, and if there were, they are ludicrous and unrealistic. Team members should be fully aware of the company’s objectives for them to have a sense of responsibility and fulfillment, which as a result brings about an atmosphere of cooperation and teamwork.

Having goals will get you and your team in the right mindset

Without a clear set of goals, a business owner will tend to target things that are either irrelevant or unattainable because he does not have any real perspective on what his business is capable of accomplishing. By setting and managing goals, you can ensure that you know the exact state of your business and therefore prevent you from being ‘out of touch’.

Aim for success that is measurable

A business should always be trying to improve, grow, and become more profitable. Setting goals provides the clearest way to measure the success of the business. When you are looking at your business from a long-term perspective, you are preparing beyond the tactical side of your business and instead taking a much bigger view, which allows you to see the company from a more competitive and economic perspective.

Sustain business growth by establishing clear goals

When the goals you’ve established have been accomplished, there’s no other consequence but more opportunity for growth, which means you need to establish more goals. The sustainability and structure of that growth become clearer because goals have been properly established from the start. There’s really no way for you to take your business to the next level without a clear path of goals every step of the way.

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