How to Set Objectives for your Business Success
Before you go into specific tactics, the most important part is identifying what you and your team are setting out to accomplish.
Understanding what you intent to achieve will enable you to move into a direction and measure your results against some benchmarks that’ll tell you whether you are on track to achieve your goal or shooting off piste.
So where do you start?
The first part is to identify the intent you look to achieve. And depending on what stage of business you are in, this could vary. Perhaps you target higher customer acquisition, look to increase revenue or become better at closing leads.
Whatever the result you want to hit, you must ensure that you put in place metrics. To help you with metrics, it is like thinking about how you will actually know that you have achieved your goal. Maybe you measure the amount of closed sales, perhaps the quantity of people visiting your site or the amount of repeat customers or lifetime value of a customer you have.
Once you know the outcome and how to measure its success, you set out to create a timeframe in which you want to achieve this, which in turn gives you the length of your roadmap. From here you should plan your actions on a monthly, weekly or even daily basis.
This will give you a framework of what you are looking to achieve, how to measure it, over what period and what actions you need to accomplish in order to get to your desired outcome.
The key takeaway here is that if you can’t measure it, you cannot manage it and therefore not grow it. A clearly defined outcome and some a way to measure it is key here.
You should look at achieving your goals based on data rather than luck. Here’s a list of things to consider when planning your objectives:
What is the desired outcome you look to achieve and how will you know you achieved it
What is the timeframe in which you look to achieve your goal (think about your start and finish dates
What actions can you describe that will help you achieve your weekly tasks
This is the first tactic as part of our series. Stay tuned and build what others dream of.
