Goal-Setting Tips – How to Set Realistic Business Goals

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After the debacle that was 2020, setting goals for your business has likely been difficult in the extreme. Now, as we move through mid-spring 2021, it might be a good idea to pause and consider the things we’ve done for our businesses so far this year. After all, according to the latest statistics, fewer than 10% of people keep their resolutions each new year; with 45% failing to reach new goals by the end of January and some 80% giving up by the time March rolls around. This leads us to wonder which goal-setting tips might work for setting realistic business goals.

Have you given up on the business goals you set for this year? You're not alone!

Far too many business owners set either vague or unrealistic goals for themselves, their teams, and their business, making them difficult to achieve. Setting a vaguely worded goal like  “I want to sign more clients this year,” is too ambiguous to capture the imagination, energy, and focus of your team.

If you make your business goals more focused and specific, such as “We will close 50% of all our client projects this year,” it will be far more productive. It’s clearly worded and concise – and it’s also measurable. A goal that cannot be measured will rarely, if ever, be met.

Well-defined goals get met, Ill-defined goals do not.

And so, with all of that in mind, we offer a few things to consider about the goals you’ve set for your business, your team – or yourself:

  • Are the goals you set this year narrowly defined and specific?

  • Are the goals you set this year attainable and realistic?

  • Are the goals you set this year tailored to the talents and skillsets of your team members? (Or yourself?)

  • Are the goals you set this year an actual benefit to your business – and your team?

Goals that are ill-defined or patently unrealistic do no one any good, least of all you. You see, poor goal-setting reflects just as poorly on you as a leader and frustrates your team because they’re unreachable. You will be perceived as either impractical or ill-equipped for the job. Both of these impressions will undermine your authority and make it difficult for others to perceive you as an effective leader.

If you're experiencing high turnover or indifference in your team, this may be the reason.

Incremental Goal-Setting Tips

The best goal-setting tip we can offer is to put together a progressive list of goals for your team to aim for, such as, “I will close 50% of all of my clients this quarter, 55% in the next quarter, and 60% in the next quarter …”, and so on. This will keep every member of your team focused on growth and personal improvement and, once again, their performance toward their goals is measurable.

And so, we say again, the numbers must be realistic and, as we also say again, specific goals such as these will be much more valuable to you, your business, and your team than some vague notion of “getting better.” If you truly want your team and your business to “Get Better,” help them set goals they can actually achieve – with goal-setting for success as your goal for this year, the next, and beyond.

Ted remains available to work with you on a case-by-case basis, offering more goal-setting tips and business consulting that is targeted to your needs and, well… your business goals.

With more than 25 years of experience in the luxury furnishings and interior design industries, he has pretty much seen it all. So, if you're ready to work with a professional business consultant who can help you grow your business with reachable goals… Get in touch with TD Fall today.