2016 Business Strategy: Getting Your House In Order

It’s a new year and we’re sure you have set a few resolutions for yourself. Most of us don’t think enough about our annual business goals. It’s important to set annual goals for your business and to make sure they are aligned with the overall strategy that you have set. Your focus may change, so you have to make sure that you are constantly evaluating where you are at according to your previous goals and your overall business strategy. Keeping track allows you to tweak your approach accordingly. If you have been in business for a long time, chances are, your goals and vision for the company are likely different than when you first started.

If you haven’t already tackled your goals for 2016, here are a few things to help you get your business house in order as you set out for success for the year ahead.

Set quantifiable goals

A goal is only good if you can tell if you have successfully achieved it. While it’s honourable to say you want to make more money, or you want to raise morale among your team, you have to set metrics and a measurable goal. This way you can set milestones and work to achieve your goals incrementally. For example, your goal can be to increase annual revenues by 25% or to hold monthly appreciation events for staff.

Look back before looking forward

Did you set goals last year? If you did you should have a peek to see if you were able to meet those goals. If you didn’t meet your goals, what stopped you from getting there? If you did reach your goals, what strategies do you think you want to continue into 2016?If you didn’t set any goals, or you are a start-up that hasn’t been around for that long, refer to your business plan and the objectives you set out at the beginning.

Write everything down

It’s one thing to talk about your goals, but it’s even more important to write them down. The reason you should write down your goals is that it is easier to hold yourself accountable. In business we often get overwhelmed with the day to day, so the easier we make it for ourselves the better!

Revisit your goals monthly

Just like any sort of marketing automation, it’s never about “set it and forget it!” There is no point in setting goals if you are not going to track your progress in working towards them. Schedule a time each month to revisit your goals so you can see how far you have to go and what you need to do differently to get there more efficiently.

Don’t be afraid of change

This can be the most difficult thing about setting goals. While you should stick to your goals, sometimes factors pop up that you have no control over. These factors could be related to a number of aspects of your business such as financial, client, or product/service. The best approach is to sit down and see how you can shift your focus while still keeping the best interests of your business in mind.