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The Importance of Goal-Setting in Business: Tips from a Business Consultant

The Importance of Goal-Setting in Business: Tips from a Business Consultant

You’ll likely agree.

When you know where you’re going, it sure is a lot easier to get there.

And while that may seem obvious, it’s a simple bit of common knowledge many business owners fail to apply. In other words, they don’t set goals

Sure, these business leaders may have hopes and dreams, but what they lack is a clear destination. A target. A point on the map they’re striving for with each step forward. And without that landing place in mind, the workplace can become stressful.

That’s because, without a goal, it’s easy to waste resources: time, money and energy spent on projects or ideas that don’t go anywhere. And if there’s one thing that will kill morale at your business faster than just about any other, it’s that lack of direction.

The good news is you can nip that problem in the bud today. So keep reading. You’ll learn the ways proper goals set your business up for success and then be off with some actionable steps for setting the right goals at your company.

And in doing so, meet and surpass those milestones as you move forward into God’s image for you and your business.

Here’s how.

Goals Provide Focus

One of the main problems businesses face is a lack of focus—and this tends to show itself as a lack of consistency.

Sales come and go. Teams move through wildly different phases of productivity. One day it feels like you’re on top of the world, the next you’re just spinning your wheels. 

Now while it’s true that everything follows cycles, these ebbs and flows can be evened out with proper benchmark goals. By putting certain “checkpoints” in place along the way, you can discover the systems that lead to reliable successes throughout all seasons.

As an example, clear revenue goals let you learn the long-term effectiveness of your sales process and marketing efforts. By learning which systems produce the best, you focus your efforts and become more efficient. On the flip side, if your numbers aren’t looking so good, these benchmarks let you know when it’s time to ramp up or try something new.

So, simply put, goals keep you on track. 

And speaking of which . . . 

Goals Improve Workplace Performance

Goals provide direction for your departments, yes. But something you may not have considered is the personal effect larger business goals have on your employees.

Here are some interesting statistics on the matter.

  • Employees of goal-oriented businesses are 6.7 times more likely to feel proud of their company
  • Those same employees are 6.5 times more likely to recommend the organization as a great place to work
  • Goal-oriented workers are 6.5 times more likely to learn the skills needed to master their jobs
  • Employees that understand how their personal goals connect to the larger mission are ten times more likely to feel inspired at work

In other words, goals empower your employees by bringing a unified vision to your team—something you can all work toward together. Goals bring meaning to the tasks that may otherwise be seen as boring or mundane. (Yeah, I said it.)

Or, put another way . . . 

Goals Boost Motivation

There are few things worse than feeling like your work doesn’t matter. And without that bigger goal in mind, it’s easy to lose steam. 

Goals, therefore, have an energizing effect on your teams—especially when you follow a simple guideline. Which is . . . 

Knowing your why

Your why is the driving force behind your overall goal. It’s your higher purpose. The reason you want to succeed. (Hint: it’s to serve others.) And by keeping your why front and center, you’ll bring a life and vitality to your teams that’s difficult to describe. 

Along with that jolt in motivation, goals have another interesting effect on your staff . . . 

Goals Promote Accountability

Accountability in the workplace means people taking responsibility for their actions, behavior and overall job performance.

When a business lacks accountability, this looks like unclear responsibilities, staff making excuses for not getting things done and a culture of laziness. 

Fortunately, the fix is easy (and, you guessed it): having clear goals. This is especially true when goals are transparent and measurable. 

So if you want to improve accountability across your teams, set some clear goals and get everyone on board.

How do you set great goals, you say? Well, funny you should ask—because that’s just what the next paragraph is about.

How to Set Effective Goals at Your Company

Now that you’re totally on board with the merits of goal-setting, it’s time to, well, decide on some goals! To do this, consider setting goals for each of the following:

  • Your overall business or department—where you want to take the business
  • Individual goals set by your staff for their own personal growth

Having both of these levels in place—the big picture for the company and personal goals among your staff—creates a powerfully productive work environment that is both fun and professionally rewarding. 

Actually, on that note, let’s repeat one of those statistics from earlier in the article. Namely that:

Employees that understand how their personal goals connect to the larger mission are ten times more likely to feel inspired at work.

That’s a pretty big deal—not only for your daily production, but also when it comes to solving retention issues. Because we all know that hiring new employees can be a difficult and costly process in both time and money.

Here’s how showing an interest in the goals of your employees pans out for businesses like yours.

  • Companies that invested in employee development saw a 58% increase in overall retention
  • 94% of employees said they’d stay with a company longer if they felt that organization was invested in their career development

So don’t forget to include the desires of your staff when writing goals. Because when working together, personal and overall company goals can work together to create a powerful force that propels your business and community forward.

But let’s first make sure those goals are set in the best way possible.

Supercharge Your Goal Setting and Productivity

To set goals that propel your business forward—by way of actually accomplishing them—there is an excellent framework that you can follow.

Known as S.M.A.R.T. goal-setting, this method will ensure you choose productive goals and set your teams up for the greatest chance of success. 

S.M.A.R.T. goals are:

  • Specific
  • Measurable
  • Achievable
  • Relevant 
  • Time-bound

Specific goals define what needs to be accomplished, by whom and how. Measurable goals can be tracked and achievable goals are believable. Keep your goals relevant to the overall objective of the company and give each a deadline (time-bound) to crush your goals from here on out.

And with that, there’s just one parting message before sending you on your way.

Choosing the Right Goals for Your Company

At the end of the day, a business with goals fares much better than one without. And yet, many business owners put off establishing firm goals. 

It’s hard to blame them. Running a business is tough. It can be overwhelming. And, dare I say it’s easy to lose sight of the bigger picture when you’re stuck in the day-to-day grind.

For this reason, having an outside perspective can be a godsend. 

A coach, mentor or guide is able to assess your business objectively, making it possible to see what needs to be done—without the emotional entanglements that often come with being tied to the business personally.

The good news is you can explore the potential of coaching for your business absolutely risk-free. Simply book your Discovery Call with a certified Integro Business Coach. 

Your call is a time to share about yourself and your business: the struggles you’ve been facing, where you’d like to go and the vision you see for your future. Then, you get all the relevant information and can decide in your own time if this is the proper season to invest in yourself and your company—no strings attached.

So if you’re curious about setting amazing goals for your company, book your free call now.

Because God has a bigger image for you and your business.

Discover the secrets of a thriving Christian business: Book Your Free Discover Call.