With the holiday season just around the corner, a brand new year is peeking from behind all the festivities. And with it, you may come with a new set of goals for your business. This blog post will address how to identify your business goals for the New Year. Expand on each prompt we provide as you fine tune this to fit the service you offer.
What Do You Want Your Business to Achieve Most This Year?
The goals you set for your business should be parallel to what you want your business to achieve most. The desired achievement(s) would be the driving force for your business as it will define the goals for the year. The set goals may as well comprise several smaller goals and achievements to keep it on track with your grand vision for the year.
For example, you want to help your clients gain X amount of increase in their sales. In order to achieve that, you set the goal to put your clients’ websites rank higher in the search engines. To get that higher ranking, you provide your clients with services such as SEO-friendly articles, redesigning your clients’ websites.
Another example, you want your business to reach a broader market. To achieve that, you want to provide customers from said market with products or services that can fulfill their needs. That means you have to know the characteristics of said market, whether your resources could fulfill their demand, and your competition inside the market.
Setting Realistic Goals
At some point, while nurturing our business, we often ask ourselves, “What can my business realistically achieve this year?” Achievements, however grand they are, wouldn't we can achieve the goals you set to realize your desires in reasonable ways?
Make sure that the goals are specific. A well-defined, specific set of goals will help you figure out a clear path towards realizing the targets. Make sure you measure your resources—what you have and what your business is already capable of. It would help you figure your targets, either refining what you already have or trying something new.
Do You Have a Clear Path Towards Your Goals?
After you set the goals, it’s time to plan your moves towards them. Sometimes, it is better to focus on achieving the goals instead of focusing too much on the targets themselves. That way, you can address the things you can actually control rather than uncontrollable factors.
For example, you want your business to gain X amount of customers by the end of the year. Then, prepare a set of actions you have to fulfill in order to achieve said target. Maybe it’s deploying different marketing strategies. Maybe it’s complementing your services in order to gain return purchases. Whatever it is, it has to be a part of your bigger targets.
Trimming The Fat
After figuring out what you must gain, the next step is to figure what you have to lose for your business to grow. Figure out what drains your money. Are you getting less for your money’s worth over ads with substandard copy? Could you spend it on something more effective?
Essentially, it’s more of reorganizing instead of cutting your budget. After you figure out the inefficiency in your budget, reallocate it for something more beneficial for your business growth. It can be better advertising, or it can be better web design. If you run a food and beverage business, you can use higher-quality ingredients with fewer items on the menu.
Do You Have a Clear Brand Mission?
Opposed to the goals you set yearly; your brand mission is something that should be the core of your business—the identity of your enterprise. A clear brand mission helps your ideal customer to better understand what your business wants to achieve.
Think of it as a statement about what your business wants to deliver to your customers. Something like “Our mission is to help websites rank higher in search engines by providing high-quality, SEO-friendly contents to our customer”. It informs target clients of what the brand wants to accomplish, and it gives an impression on what kind of service clients could expect from them.
Addressing The Weak Points of Your Customers’ Journey
Addressing customers’ feedback is as crucial as everything else in your enterprise. Their satisfaction serves as an indicator of your products’ or services’ reception. Sometimes, it’s the defining factor for customers to return purchase(s).
It’s not just the end product they receive, you also have to pay close attention to the process. How is the checkout process? Is it easy enough for your customer to purchase your product/service? How can you improve the user's experience in browsing your website?
And just like that, you are ready to set your business up to success this year. We are more than happy to help you realize your goals for your business. We wish you a joyous holiday, and a prosperous year ahead.