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Setting Business Goals That Work

As a business leader or small-business owner, chances are you've set a few goals in your career. You understand the importance of having a vision and goals to keep your business moving forward.

While you're constantly revisiting your goals, it's a good idea to make sure you've set goals that will work. Each goal must:

  • Be specific,
  • Be measureable,
  • Have a time limit,
  • Be yours, and
  • Be in writing.

Whether your goals deal with sales, income, hiring new employees, or simply losing weight, they won't work if they don't have each of these attributes.

For example, you probably want to increase sales this year. Great! But that goal won't work. If you want to increase sales by 10% each quarter in this year, then that's a goal that will work. You can break that goal down into small parts and time frames, all the way down to the daily activities you need to complete to accomplish that goal—step by step.

Goals And Your Team

The EntreLeader not only establishes goals for his business, he shares those goals with his team. That's called casting a vision. It brings your team along with you in every aspect of the business. It also improves communication and unity, which are the foundations of a quality organization.

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And, as you share your goals with your team, consider that many of them have never set goals for themselves—personally or professionally. Each year, Dave's team members create individual goals and share them with their leaders.

"Having my team set individual goals each year is a great way to get them motivated to succeed for themselves and the team," said Chris LoCurto, formerly Vice President of Live Events and now an EntreLeadership message-bearer.

Dave even requested that team members email him a copy of their goals, not only as a motivational tool, but because he enjoys seeing how far his team members have come based on the goals they set for themselves.

Hit or Miss?

In another article, we discussed the BHAG—the big, hairy, audacious goal that pushes you to achieve things you might not have thought possible. Even if you don't achieve your BHAG, the process of moving toward it is success.

All goals are like that, aren't they? If you increase your sales by 8% rather than 10%, does that make you a failure? No way! What's important is that you have a vision that moves you and your business forward, because, as Proverbs 29:18 says, "Where there is no vision, the people perish."

So make your goals, share them with your team, and encourage them to set their own goals, and you will create powerful momentum that will propel your business throughout the year!

In 20 years, Dave has grown his company to a national winning brand with more than 900 team members who have impacted millions of lives. His company has been named one of the “Best Places to Work in Nashville” four years in a row. EntreLeadership is how he’s done it. Get your copy of the book now!

Ramsey Solutions

About the author

Ramsey Solutions

Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners. Learn More.

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