“When it is obvious that goals can’t be reached, don’t adjust the goals, but adjust the action steps.”
-Confucius
Setting goals ensures that your business continues to grow. When you fail to set goals, you fail to move forward as a business. The above quote from Confucius is one that I think can apply to anyone.
Set goals both small and large, goals that are both short and long term, and realistic and seemingly unrealistic goals.
Every company starts small. Just because you have a small business doesn’t mean you can’t have big dreams. Having short-term, achievable goals allows you to set milestones. Achieving those milestones gives both you and your team a sense of accomplishment and ultimately can help motivate you into the next step in your company’s growth.
Long-term goals may seem achievable and unrealistic at first. If you take the necessary action steps and put the work in, there’s no limit to the amount of growth your business can accomplish. This is why it’s important to have goals at every stage of your business growth. Where do you see your business in a year? This is a question that any business owner should be able to answer. When you figure out that answer, make it your short-term goal. Goals don’t even have to be on a yearly basis. Your goal can be as simple as wanting to go for a walk before work every morning. It can be as complex as wanting to be a million-dollar company within the next 5 years. As long as you have goals, you have the vision to progress in your career and have a more successful business.
Don’t just set out to achieve your goals, but set to exceed them.
The specific metrics of your goals should be a baseline. Think of them as the bare minimum. Why settle for becoming a million-dollar company within the next 5 years? Sure, that would be incredible, but if you set out to only achieve that specific number, you may miss out on the opportunity to go beyond that initial goal.
Goals should be dynamic.
In the end, your goals may change. You may achieve them way faster than you ever could have imagined. Let’s say you achieved that million-dollar valuation within 2 years. Now let’s change our goal to become a 10 million dollar company within 5 years.
Most importantly, it is okay if you do not accomplish your goals within your specified time frame. As long as you gave it your all and did everything you could to achieve your goals, you succeeded. Your goals are not concrete, they are dynamic. As your business grows, you will discover and set new goals.