Business planning is absolutely essential in having a successful company. When doing so most set annual and “Long term” goals (i.e. in 5/10 years I want to grow the business to X) This is great and necessary. You also need to set smaller and shorter goals in order to celebrate the mini victories. If your only goals are “long term” 5/10 year goals you can easily lose focus or sight of that goal.
I like to set goals no longer than 5 years (yes, I may have plans or visions for 10+ years out but an actual goal I feel should be no longer than 5 years) I will also set incremental goals of annual, quarterly, monthly and even weekly.
It's important to celebrate the small wins. If you set your sights on a 5 year goal and fall short (which happens too often) do you ever celebrate? Even if you do hit that goal to only celebrate once in 5 years is a shame. As I've mentioned in other blogs and tips, most of us live, eat and breathe our businesses, why wouldn't you celebrate the wins, even the small ones.
It's also important to include your employees in these goals. Celebrating is only that much better when you can include the team in it.
Examples of some incremental goals I've set in the past have included:
- Adding 2 more employees by end of the Quarter
- Increasing sales by 6% this month
- Taking the first step to working on the business and less in the business
- Having 5 client calls this month
- Getting all employees trained on a new product
Try and set an incremental goal for the month, Include the team in it and make sure you celebrate when you hit that goal. Doing this will only help to keep everyone motivated and collectively working towards one main goal.
About the Author, James Webster
James Webster, founder and CEO of ROK Financial has almost two decades of experience within the financial services industry. His passion for helping small business owners and his innovative way of thinking, has allowed him to run multiple successful businesses including National Business Capital & Services. Under the National name, the team was able to help secure over $1 Billion in financing for small businesses nationwide.