Why are Business Goals Important?

Why are Business Goals Important

Let’s first realize that the reason we go into business varies for all of us.  The main reason we go into business is for the realization of one of our dreams or desires. That dream or desire is a goal.

When I ask people why they go to work, they usually reply, “to earn a living or to make money.”  When I question them further, I discover their true motivation.  Why do you go to work in your business?  What is your underlying reason?

Once you identify your motivation, your goal, for going into business, you will be more disciplined, excited and you will do a better job.  Consider your business as a stepping stone to where you want to go, to what you want to be or to what you want to have.  Your motivation relates back to your dreams and desires which becomes your goal.

When you go into business, determine what you expect out of your business.

What are the three most important things that you want out of your business?

If you don’t know or if you can’t answer this question, you are not taking control of your life, your future or your business and you are leaving life to chance and circumstance.

When you were working for someone else, I am sure your organization has three important goals that they want you to accomplish while in their employ.  Shouldn’t you make yourself aware of your top three goals in business? why are business goals important?  This is part of a win-win strategy – for you and for your business.

Your business has expectations of you.  In return, you should have expectations of your business.  Ensure you know what these expectations are and make sure the people you work with know them as well, and they are in support.  Then, together everyone can win.

In most organizations, the expectation of sales people is revenue or volume based.  While sales people expect to have the freedom and support to do their job efficiently, they also expect to be well rewarded or recognized for it.   You have already reviewed and determined your own personal goals, now let’s take a look at your business goals that you are expected to meet or surpass. Do you know your revenue or volume targets?  If you don’t, you better find out what they are because without them you have nothing to work towards.

The first thing we do is set the S.M.A.R.T. goal as discussed earlier.  Let’s pretend your goal or target is to sell and deliver $1 million of new revenue within the fiscal year for your business.  How do you intend to make it?  Do you have a plan?  That is the reason for the goal log.  The goal log works for you on the job and in your personal life, too.  You perform the same steps as you did earlier.  However, pertaining to the Action Plan portion, you have a few more steps to consider.

In detailing your action plan, take the history into consideration.  What can the past tell you about seasonal trends, favorable market conditions, competitive activities, your call to close ratios, etc.?  This valuable information will benefit you considerably.

You should first review the past, as it is likely to repeat itself.  Then, map out your target as accurately as you can by periods – quarters, months, weeks, or days.  Determine your daily disciplines.  Each of these disciplines become sub-targets or sub-goals and should be monitored and measured accordingly.  But in order for you to meet these sub-goals, you have to do something – monitor your behavior.

You can do that by simply asking me for the Monthly Monitor Chart.

About the Author

Bob Urichuck is an International Professional Speaker, trainer and Author of two best selling books.  Visit www.DisciplinedForLife.com and download the first three chapters free.  Also visit www.BobU.com or e-mail bob@bobu.com


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