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Monday, January 4, 2016

Setting New Business Goals for the New Year

According to Entrepreneur Magazine, goals are “powerful contributors to successful business growth” and force you "to think through what you want from your business and how growth may – or may not – provide that."

For a small business owner, setting goals is crucial for success and doesn’t stop after the business meets preliminary checkpoints. As 2016 kicks off to a great start, use the New Year as a motivating factor for setting new, effective business goals.

What should my new business goals look like?

Countless businesses and individuals find that the SMART acronym for goal-setting is highly effective. Yale University defines SMART as:

  • Specific
  • Measurable
  • Achievable
  • Relevant
  • Time-framed

Are your goals reflecting these characteristics? Regardless of whether you’re working towards drastic change or small improvements, these elements are necessary for progress.

What factors should I consider?

Take a look at the specific details of your business and the goals you’ve set. Are they aligning? Are there external or internal factors to consider? Asking yourself these questions will help with brainstorming potential challenges or areas of improvement:

  • What changes (if any) will be needed financially in order to meet these goals?
  • Will the company require an investment in new equipment?
  • Are there unexpected circumstances that could disrupt achievement?
  • Do our goals inspire positivity or negativity?

Brainstorming different factors of goal-setting is a powerful way to anticipate roadblocks ahead of time, before they interrupt your game plan.

How can I make sure my goals are met?

  • Hold people accountable – Delegate tasks well and hold both employees and management accountable for their actions and inactions.
  • Be flexible – Sometimes things don’t go as planned, so be open to adjusting goals and tasks to fit the needs of your changing business.
  • Display reminders – Have your goals prominently displayed in your office or workplace environment. When people are reminded of goals on a daily basis, it makes it harder to put them on the backburner.

How is your business heading into the New Year? If your 2016 roadmap includes an equipment upgrade, Tiger Leasing is happy to help meet and exceed expectations. Learn more about our flexible, affordable leasing programs and get to know why the Tiger is the best choice.


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posted by Tiger Leasing @ 9:00 AM


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