From dieting to exercise, millions of Americans are now pursuing their New Year’s resolutions. Unfortunately, 80 percent of them will fail within 30 days and only eight percent will achieve their goals.
Based on these dismal statistics you may be hesitant to set professional resolutions for your business in 2020 – but don’t be. Setting business goals keeps you focused on the tasks at hand and motivated for what you want to accomplish over the coming months and beyond.
Here are a few ideas.
1. Create realistic goals.
It’s great to have big goals but begin by thinking small. If you have too many goals over too many years, you may feel overwhelmed. Your goals should be SMART – specific, measurable, achievable, relevant and timely. For example, you might update your business plan, enhance your online marketing strategy to gain more website visitors, or increase online sales with an eCommerce platform.
Setting goals should lead to success, not stress. By keeping goals realistic, you’ll stay calm, motivated and focused on your business resolutions.
2. Write your goals down.
You are over 40 percent more likely to accomplish your goals if you write them down. This process will help you be clear about your objectives and create an actionable and measurable road map. World-famous entrepreneur Richard Branson says, “I’ve always made lists of what I want to achieve. It helps me make sense of ideas and track my progress.”
Writing out your goals can also boost your bottom line. A recent study of MBA graduates found that the three percent of MBA graduates who wrote down their goals made 10 times as much as the other 97 percent combined.
“I’ve always made lists of what I want to achieve. It helps me make sense of ideas and track my progress.” -- Richard Branson, Entrepreneur
3. Create a goal plan with action steps.
Add small steps to your goal path and you’ll make meaningful strides throughout the year. Here are ideas for transforming resolutions into actionable objectives:
Determine the desired outcome – You may want to build a website to attract more customers. Be specific about how many new customers you want to gain and how your website will help you achieve this goal.
Summarize action steps – What actions are you going to take to build your website? Two steps might be to select your website domain name and choose a website hosting provider who understands your vision.
Develop a timeline – Align every action step with a deadline. Each action should be prioritized with a sufficient amount of time to complete them. This will keep your action steps top of mind and move you forward toward your goal.
Track your progress with milestones – Consistently tracking your progress is a key component of running a small business and being your own boss. This ensures you stay focused, meet your deadlines and ultimately achieve your goals.
4. Tell someone about your goals.
You are more likely to achieve your goals if you share them with someone you trust, such as a business partner, close colleague or mentor. Telling others your goals increases your accountability, allows you to gain new perspectives, helps you receive guidance and encourages employee participation in the pursuit of your business goals.
Keep in mind that it’s OK to periodically modify your goals every three to six months. Doing this helps you make the most of your business and keeps the journey fresh and challenging.
“A destination without a roadmap is a wish.” -- Unknown
5. Frequently review your goals.
As you go about your daily business, refer to your business goals often to ensure your actions match your vision. This creates thought patterns and habits that make you more productive and keeps you, your employees and your business on course toward your target destination.
Add a goal-review reminder on your calendar or somewhere highly visible to keep your objectives top of mind. It will help you to stay focused and give you a better chance of achieving your business resolutions in 2020 and beyond.
By creating business goals and an action plan to achieve them, you and your company will be even more productive as we move farther into the new year. As the website builder that small businesses trust, Web.com is here for you as a partner in your successful journey.
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