Setting goals for your company can help keep you on the path to growth.
For most business owners, the concepts of growth and expansion are highly desirable. Starting small and eventually growing the company into something larger and more profitable is a tough challenge many owners struggle with. How exactly can a company expect to grow and improve? Simply wanting things to happen clearly is not enough. Having a plan and working towards it, as it turns out, is one of the most effective ways to not only get to where you want to go, but also do so in a timely manner.
Javier Loya, CEO of OTC Global Holdings had the following advice: “Setting goals can help keep individuals on track to meet objectives they have set forth for themselves, but how the goals are structured can help determine how likely you are to make them a reality.”
The More Specific, The Better
It is easy to set goals for your company but how you phrase the goal can affect how much progress you will actually make. If, for example, one of your company goals for this year of the year is to “increase social media engagement,” how well your company is doing could ultimately be very subjective. The goal is vague and open to interpretation. Changing the goal to “increase annual social media replies for each platform by 50%” is much more specific and easier to track. Each day your social media team could work towards a specific objective to reach when using each social media service.
Another effective way to improve your company is to set deadlines for the goals you have created. “By setting a target date you and other employees will have a better understanding of what should be done today, next week, and next month,” Javier Loya adds .Setting a deadline will help you prioritize and stay on track to meet your proposed de