Kory Dogs
April 22, 2024
In the dynamic landscape of entrepreneurship, where change is constant and challenges can seem like they are never ending, goal setting can be the compass guiding businesses toward true growth and success. Setting clear, actionable goals should not just be an exercise that you rush through just so you can say that you have goals. Goals should be thought out, clear and concise – and more importantly, looked at, talked about, and focused on DAILY.
First and foremost, goal setting provides businesses with a roadmap, a well-defined path breaking down where they currently stand and where they aspire to be. Landing on S.M.A.R.T. (Specific, Measurable, Achievable, Results-oriented with a Timeline) goals should serve as a guiding light for what you and your team should be focusing on. S.M.A.R.T. goals can align the efforts of teams and individuals toward a common objective, fostering synergy, collaboration, and coherence within the organization. Whether it’s expanding market share, launching new products, or enhancing customer satisfaction, articulating precise goals enables businesses to channel their resources and energies effectively, maximizing their chances of success.
Moreover, setting goals cultivates a culture of accountability and ownership within the organization. When individuals are entrusted with specific targets and milestones, they are more likely to take ownership of their roles and responsibilities, driving performance and productivity. This sense of accountability permeates throughout the organization, fostering a culture of high performance and continuous improvement, which are impactful contributors for sustained business growth.
Additionally, perhaps you’ve heard of the Law of Diminishing Returns? First off, it’s a LAW (and I was once told that laws should not be broken). I’ve worked with businesses and teams that come out of the gates and set 10-20 goals. It’s with good intention but that’s WAY TOO MANY! Often you must slow down to speed up. Setting 2-3 impactful goals per quarter is 1) much more manageable and 2) increases the likelihood that you will achieve them. Would you rather have 10 goals that you are rushing to get done/achieve (which means you probably aren’t doing as good of a job on achieving them, which also means that the desired result is less likely) – or have 2-3 goals that you absolutely knock out of the park?
Goal setting is a skill that must be learned and developed. Like anything, practice makes permanent. Our team facilitates a Quarterly Planning Day for our Business Community that takes them through the process of looking back at the previous quarter – and how they did with the previous quarter’s goals – and getting the upcoming quarter’s goals identified with an actionable plan. The energy and power in a room of 70+ business leaders doing planning is palpable. And the growth we see (and results) from those doing the planning is amazing!
Ultimately, goal setting is not merely about reaching the destination but about the journey itself—the learning, the growth, and the transformation that occur along the way. It fosters a mindset of continuous improvement and empowers organizations to overcome obstacles, seize opportunities, and realize their full potential.
To wrap up, goal setting is the cornerstone of business growth—a strategy that provides direction, fosters accountability, and fuels innovation. By setting clear, actionable goals, businesses can navigate the complexities of the business landscape with clarity, purpose, and determination, unlocking new horizons of success.