We all have our reasons for being in business – what are yours? And more importantly, what do you want to achieve next with your business?
Why what you want matters
As the owner of your business, your business exists to serve you.
As the leader of your business, your passion and commitment to your business, or lack of, influences your whole team.
Therefore it is important to clarify your personal goals for your business, before working on the business goals you will share with your team.
So, what do you want from your business?
Increased profitability and cashflow?
Are you working hard, but not seeing the financial rewards?
Growth?
There is no point growing your business, if the headaches are only going to grow too. Why is growth important to you?
Increased independence?
You enjoy your business, but would you like to know you can take a break from it, and it would still flourish?
Contribution and Legacy?
What does your business contribute to your industry and community? How do you make a difference?
Reputation?
What do you want to be known for? Why is this important?
Revitalisation or challenge?
Are things getting a bit stale? A bit ho hum? Would you like more challenge and learning?
Realisation of equity?
After all the hard work and precious time you have put into your business you deserve to realise the value of your work. Is now the time to be preparing to exit?
Write it down!
Irrespective of what you want to achieve, it is important to write down your goals, so it is easier to focus on what is important to you. This is essential, as it is easy to get distracted with so many things to juggle.
You have heard it before, but we will say it again, make sure your goals are SMART:
- Specific
- Measurable
- Achievable
- Realistic
- Timebound
Written goals have more power!
And lastly, yes it is important to write your goals down.
Research shows, people who have written goals are more likely to achieve them, than people who have unwritten goals. From a physical perspective, hand-writing is more powerful than the ‘tapping’ of typing.
Even in our digital age, the power of the pen is still mighty!
So take some time out to clarify what you really want to achieve in your business by considering the above questions
You are in Tips and Tools |