Create Powerful Business Goals and Highly Effective Action Plans.

How can you make major progress every year with your business?  how to create powerful business goals and very effective action plans to improve the quality of your lifeThe best start is to know exactly where you are and where you want to go.  Business owners that create and write down their goals are 10 times more likely to succeed.  What are the key elements for you to measure for business success?  What do you really want and why?  A business coach can help you create these powerful business goals and action plans that ensure that you reach your goals and make rapid progress.

Powerful business goals contain the key elements of the acronym SMART:

S – be very Specific in exactly what your goal is.

M – your goal should be Measurable.  How will you know when you reach your goal?

A – the best goals are stretch goals that are uncomfortable yet Achievable.

R – your goal should be important to you, your life and your business and Relevant to success and growth.

T – your goal should have a deadline and be Time-based.  It should also be Thrilling to you!

Being clear on your business vision, mission and goals is paramount.  9 out of 10 small businesses fail in the first three years.  80 percent of business owners do not have measurable written goals from year to year.  Coincidence?  I don’t think so … Here are some ideas on important measures for a business:

  • Customers – customer service (ratings), customer retention (% over time)
  • Profit – net vs. gross annual income, % increase in net profit
  • Marketing – # of leads generated, marketing budget return on investment (ROI)
  • Sales – % close ratio, # of sales, $ sales per month
  • Social – % gross revenue given to charity
  • Employees – satisfaction ratings, retention
  • Quality of life – maximum # of work hours per week

Once you know where you are and exactly where you want to go, it’s time to create an action plan that works and gets results for you.  This could be a full blown business plan or marketing plan or simply a list of actions that will help you get where you want to go.  One secret tip is to start from your end result and work backwards into your action plan.  For example, imagine your goal as complete.  What did you do right before it was done?  What was the step before that?  Here are the major items to include in your action plan:

  • the action item or task to complete
  • start and end dates
  • who is responsible
  • budget in time and/or money $
  • progress or completion status %

Be sure to include your team in the goal setting and action planning process to get buy-in.  Another nice thing to do is to break up big goals into milestones or smaller actions to be able to track progress.  Also, come up with some exciting rewards for you and your team when you reach your goals.

If you have any questions or would like coaching or help with this process, please fee free to reach out for a complimentary consultation.  We are located in the Sacramento Roseville Folsom Auburn areas, and are happy to help business coaching clients from all over the world.

Call Today 707-246-3646 or email Jim@PEAKBusinessCoaching.com