14 December 2017

Destination mastery means knowing which direction your company should go

When you’re running a business, you’re putting a lot of things on the line. Every action is a risk, every move is a gamble. No one can really start a business and say with certainty that it will be successful. As you venture into this ever-evolving and highly-competitive world, your only true weapons are sufficient knowledge about your business and careful planning.

Now, planning primarily involves setting your business goals. When you fail to set business goals, you will most likely find yourself drowning in a sea of “bad luck” which could have been avoided had you taken time to plan.

While there are times when business owners make decisions based on gut feeling, you can’t operate a business that is dependent on sheer instinct or intuition. Having a defined set of goals is crucial if you want your business to achieve sustainable growth.

Your business goals help dictate the specific steps to take towards achieving them

Imagine getting into your car and immediately starting to drive without knowing where your destination should be. As soon as you reach the first crossroads, you wouldn’t know which direction to take. Now put that in the context of business. Imagine yourself and your team working hard every day not knowing where exactly all those efforts go to. Planning is all about the steps — the actions your company and its people need to take to achieve certain goals. Without a plan, everybody would just be stepping on the gas pedal and driving around with no purpose.

Your business goals help improve communication within the company

Without a general strategy or a vision, your team members will find it hard to maintain good lines of communication within and amongst themselves, and make no mistake — communication is key to keeping your team efficient and productive.

Employees are only able to see eye to eye if they share a common objective. When they know the goals and how they would contribute to achieving them, they would know what they can expect from their fellow employees and how they can help in return, thus fostering a healthy, cooperative environment for everyone. Consequently, your goals become much simpler to attain.

Your business goals prevent you from being out of touch

As a business owner, you may think you have goals in mind but when you fail to clearly define them and communicate them to your team, you may find yourself wandering about. You can’t really stick to your plans if you don’t know them by heart.

I’ve worked with business owners who thought they know what their business goals are, but along the way they ended up chasing other goals and so many other small goals in between. This not only hampers success but also confuses and stresses out your team because their efforts are going nowhere. Plus, you become more frustrated because you aren’t getting what you original planned to get.

Your business goals help initiate and sustain future growth

It’s rather problematic to evaluate your business if you don’t have a measure for success. What exactly has your business achieved? What are the things that you failed to achieve? How would you know when it’s time to pack it all up or take your business to the next level?

Goals help answer those questions. If you have clear goals right from the beginning, you would also have a clear appraisal of everything that you and your team have worked so hard for. Are the results somewhere below your expectations? Then now you know how to improve. Were your expectations met? Then strive to become better. Did it exceed your expectations? Then you can now begin to think about how to grow your company further.

Business goals matter. They help ensure that a company understands the necessary steps needed to get to wherever they want to go. REACH the full potential of your company by working with a Business Coach like myself. My extensive clientele consists of companies based in all of the Midlands including Leicestershire, Derbyshire, Nottinghamshire and Staffordshire. Discover how REACH Business Coaching can help you grow your business by attending our free workshops and seminars.

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