Business Goals: Are They Helping Or Hurting Your Company?

business goalsWhen you’re trying to grow your company, business goals can actually get in the way of what you want to accomplish.

Here’s why.

When you focus on hitting goals, too often the fundamentals necessary to achieve them are ignored. In other words by keeping your eyes on the end result, you increase the odds of missing essential steps to getting to that desired outcome.

How can you avoid this mistake?

Set an objective but focus on the related tasks instead.

For example, let’s say you want to grow your business by boosting pretax net profits 20% this year.

Identify all of the steps that you believe are necessary to reach this goal.

And where possible, create systems for repetitive tasks.

But whether or not you can systematize tasks, your daily focus should be at that level rather than the goal you’re trying to reach.

Because you can control your actions but not the ultimate result of those actions.

Does this mean you should never revisit your business goals?

Of course not.

In fact, you should on a regular basis (e.g. biweekly, monthly, quarterly, etc.) examine whether the actions you’ve been focusing on are in fact moving you towards the objective.

Naturally, you’ll adjust course as-needed based on this periodic review so that you increase the odds of reaching your business goals.

In short…

  1. Set a business objective.
  2. Define the tasks needed to achieve that goal.
  3. Systematize repetitive tasks.
  4. Focus on the tasks daily, not the goal.
  5. Periodically review your progress and adjust course if necessary.

When setting business goals for my law firm, companies I co-own, and even for the business books I write, this is the proven method I use to achieve objectives.

Mike Young

Author Mike Young

Best-Selling Author | Business Coach | Attorney | Husband | Father | Dog Owner

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