How Do I Create Business Goals?

4 minute read

Although business goals will differ from one company to the next, if you haven’t taken the time to write your goals down, you’re missing a great opportunity.

It’s been said many times “If it’s not in writing, it doesn’t exist!” So, please write down your business goals – on paper, no matter how elaborate or simple they may be. That’s the gateway into the journey to refine and perfect your goals, and ultimately to accomplish them.

Step # 1 is to write down ‘general’ ideas about what you’d like to see happen in your company. It can be as simple as “I’d like to earn $1 million in net profit,” or “I’d like to replace all my old vehicles with new ones” or “I’d want to upgrade our server” or “I’d like to get every marketer and PM an iPad.”  Your goals could also include ideas such as the marketing team publishes ten blog articles or creates 5 simple vlogs (videos).

It doesn’t matter what the goals are, as long as they are business related. Unless you take the time to put these goals in writing, it won’t be very real or doable for you. We get calls weekly asking “How Do I Create Business Goals?” so don’t worry about the process, your business coach can help.

Step # 2 involves taking those “broad” goals listed above and making them specific. An example would be: ‘Purchase 6 iPads’ for the marketers and PM’s. They need to have the following options. (list the options you want). Identify the apps and software you want them to have. Specify the cost of the total purchase. Make it real and make it achievable. If they are descriptive, there is room for confusion and misdirection.

Step # 3 will include sharing those goals with you team. It’s true that putting the goals in writing and telling your team of those goals usually means you are committed, and they more ‘public’ you make them, the more likely they’ll happen.

Step # 4 should identify the actions and steps you will accomplish to get to your goal. It can be tied to dollars, or number of jobs, or when you receive 5 perfect Yelp reviews. Regardless of the target, they must be realistic, and everyone must be on board.

Step # 5 is about setting a deadline! After meeting with your team, decide and put in writing the planned deadline for this goal to happen. It might be as simple as getting paid in full on the first job invoiced over $50k. It could be once 30 closed jobs are booked in one month.

We strongly encourage you to discuss your goals with your business consultant as well as your internal team, since a business coach will have advice and suggested strategies about how to make those goals happen.  They may even tell you to make them happen quicker, or you are rushing the goal.

Remember, you can have many different goals, on numerous different timetables, just be sure they are all written down, achievable and clarified. It’s quite common to establish Business Goals that include Service, Social, Profit and Growth.

Setting a Service goal could be about improving customer service satisfaction or customer retention. A Social goal would be one that that focuses on giving back to the community, through philanthropy or volunteer organizations. Profit goals are usually related to increased sales, more leads or referrals, and even specific sales numbers and/or profit margins. And lastly, Growth goals are about the expansion of the company, through new employees, or even a larger facility.

Regardless of your goal(s), please write them down. Please discuss them at every opportunity, including company meetings. Let your entire company know what those goals are. Consider making an “action list” for each specific goal, so you and those directly involved can participate.  More than anything, be sure to include your business coach in the process, they likely have some brilliant ideas to help you achieve your goals.

By Dick Wagner, Co-Founder The CREST Network, LLC

Nationally recognized coach, consultant, and trainer.

Owner of blog