As another festive season approaches, it’s good to look at 2017 in review and ask yourself, “Did I achieve what I thought I would in 2017?”
If you’re a business owner, being able to step back and look at the big picture is a vital part in reviewing your business strategy so you can make changes to escalate your performance leading into 2018.
If sales are booming and profit is up, GREAT!! Keep doing more of the same and look at ways to raise the bar even higher if you have the capability of achieving more.
If you don’t typically have goals or a business plan, and you’re keen to see profit or sales improve in your business, the months of December & January are a good time to formulate some simple goals to focus on for the next six months to round out the financial year. You may consider collaborating with a business plan consultant to construct a strong, detailed business plan assured to drive your business into the new year.
In a small business, it can often be difficult to set goals and have the discipline to dedicate the time needed to actioning steps to achieve them.
There are some really simple rules to follow when it comes to goal setting.
1. Complete a SWOT analysis of your business and also do a SWOT analysis of your key competitors to identify any opportunities you can maximise in the next 6 – 12 months. This is great to do with someone independent who challenges your thinking and asks deeper questions about the how and the why.
2. Keep the goals S.M.A.R.T – Specific, Measurable, Attainable, Relevant, and Time- Based. For example, I want to have 10 new customers spending $5000 per month by June 30, 2018.
3. Identify and prioritise the action steps you need to take to achieve the goals for your business. For example, using Linked in I will make 50 new Connections and have 25 face to face meetings to try to achieve my goal of 10 new customers by June 30, 2018.
4. Look at any possible obstacles that might stop you from achieving your goals and try to think of a strategy to prevent this from happening. For example, what other tasks will possibly get in the way of you allocating time to reach new customers? How do you ensure you allocate the time to achieving this?
5. Be disciplined with your time. Everyone is busy and there are plenty of distractions in modern life. Come back to your calendar and task-list each day and re-establish your priorities to ensure you’re focused on spending time each week on goals that will make a difference to your business.
It’s really important that if things haven’t gone to plan so far in 2017, you take time to reset, take a big deep breath and look at what you can do over the next couple of months to ensure your business is on track to deliver its full potential in 2018.
Most importantly, don’t worry! Worrying wastes time and energy!
Hiring an independent coach and mentor to help you deliver your goals is a smart investment that can empower you while enlarging future profit and sales. Our business plan consultants can configure an actionable business plan to help steer your Melbourne based business into a successful 2018 and beyond.
Working with the right type of business coach can reward your business with big improvements in a short space of time and provide guidance with sticky situations such as how to improve staff performance. There are many coaches to choose from with different skill sets.
The main thing to consider when choosing a business coach is whether or not this person understands you, and if they can help you achieve what you want to achieve. They should excite you with possibilities and insti
ll a sense of confidence by adding value to your vision.
Often people make the mistake of working with someone simply because they have experience in a particular field, yet, it’s more important to work with someone who challenges and gets the best out of you, so they can complement and add value to what you’re already doing.
Enjoy the lead up to Christmas – if you need any help working on your business plan and goals for 2018, or reigniting ones that slipped under the radar in 2017, contact Striive Consulting on 03 9028 4100.
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