How to Set Business Goals?


The fourth quarter of the year 2019 is about to end, which means it’s time for sales and marketing professionals to pull up their socks for the upcoming year 2020. It’s time to set new business goals for the New Year 2020. This is the right time to start setting business goals. This proactive approach is necessary to beat the upcoming competition and challenges waiting for the business ahead. Many organizations set business goals haphazardly, or they fail to set their business goals altogether. Setting the business goals takes time and these goals should be consistent with the business core values, mission, and vision.

It is essential to set the business goals as it clarifies and quantifies the business needs and wants. Let us look into a few pointers helping us to set business goals:

How to Set Business Goals?

Time Span: The business goals should be time-specific then the only business can strive to achieve the desired outcome in a stipulated span of time. Business goals can be set majorly in 3 forms like short-term, medium-term and long-term. Short-term goals are in the range of one-year, Medium-term goals are in the range of three to five years and Long-term goals are in the range of 10 to 20 years.

Make a Note: Making a note of things on a pen and paper is one of the best childhood habits that one must never give up. If you want your goals to be achieved make sure you make a note of goals in writing. Once we write down something, the chances to forget that decreases. If you are not writing the business goals and just keeping them in your mind then there will be no difference between your goals and New Year’s resolutions that never turn into reality. Once your business goals are recorded, you can’t forget them and these goals will keep you reminding of a commitment that you made while framing them.

Disclosure: The disclosure of your set business goals is necessary because then you will be more accountable for fulfill them. Once you share your business goals with others then you push yourself more to achieve those goals. You know that apart from you others also know what you stated while framing the goals. This acts as a good pressure and a motivation to achieve the goals in the stipulated time frame.

Quantified Goals: Your business goals should be tangible and measurable. Quantifiable business goals help you to track the business performance as and when you achieve them one after another. It makes you aware of how much time you took in achieving a particular goal and how much time you require more to achieve the rest of the goals.

Don’t Be Too Rigid: As we know change is the only constant thing in life. The dynamics of our working environment also change rapidly and in such scenarios, goals should be subject to change. You never know what unforeseen circumstances could arise in the upcoming year. There could be multiple external circumstances that can go beyond control so don’t be too rigid while setting business goals. Leave a scope of change in your business goals and don’t be afraid to alter them.

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