The Importance of Business Goals

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The Importance of Business Goals

The Importance of Business Goals

For you to get where you want to go, there are four key steps for you to take. They are not difficult, but they are vital.

Commonly known as the GROW model, the four stages are as follows:-

G stands for Goals

Being clear about where you want to get to is absolutely critical. You MUST know where you are intending to get to, by identifying your goals and being very precise about them.

Use SMART goals - this is a useful description which is great to remember.

S - is for Specific

Be really clear about what it is you want

M - is for Measurable

There must be some sort of number of other measurable description of your goal

A ? is for Actionable

You have to have some verb in the goal ? you have to DO something!

R ? is for Realistic

Make your goal achievable, but don't be frightened to make it BIG!! T ? is for Timebound

All of your great goals will fall by the wayside if you have no when about them ? the 'maybe I'll start next week method'.

Poor Goal examples:-

To grow business revenue

To have happy employees

Great Goal examples

To build bottom line profit by 20% every year for the next three years

To have a 33% split between all revenue streams within 2 years

You might also want to consider what 'Purpose' in your life there is for this goal, the more it fits what you truly want out of life, the more motivated you will be. Thus SMART(P)

R stands for Reality

Be brutally honest about where you are starting from and what has held you back in the past.

Take a half hour to understand the assets and skills you bring to the business. Get really clear on your qualities - and shortfalls!

Be realistic and honest ? a good way is to just list all the positive attributes you have, such as patience, perseverance and focus.

Dispel any 'I can'ts' right now. You can and will. Reality means just that and no untrue negative beliefs you hold about yourself.

O stands for Options

Here is where the fun starts, if you let it. Really let your imagination go ? blank sheet of paper and 10 minutes of uninterrupted time. For organisations, this may take longer ? it may involve as many of your people as possible ? that's OK! You write until you can't think of any more ideas about how to make your goal come true.

After 10 minutes, or when you dry up ? take a 10 minute break ? and then think of ten more ? you can do it!! In this phase, you are not judging, it is very important that you don't think of any 'can'ts' or even thinking of any 'how's' just let the ideas flow. There are loads more idea creating things you can choose.

W stands for 'What' and 'When'

Check out the ideas from above and choose five 'quick wins' and five longer term projects.

Make a decision to do the five quick wins within one week, starting today (you might be surprised to find you do them all today!). Then when finished do five more till all are completed (mind you, once you get into the swing of it, you'll start uncovering a lot more!).

For the longer term ideas to achieve your goals, a sense check is important first. Will action (remember the 'A' in SMART) on this idea, deliver the outcome you really want towards your goal ? or is it a nice to do, or even off track. For either of these be ruthless and ditch the ones that are off track. Get five focused ideas in place ready for Action.

Create a timeline from your goal and working back from there, decided milestones on each of your five key ideas. Use say quarterly, monthly, or weekly reviews. Be decisive and flexible as the actions will go at different speeds. In some sort of visual planner, record where you will be with each one of your actions towards your goal at the regular reviews you have. Some people prefer to have weekly 'action steps' in each project ? even daily.

The key is to be able to say., 'This week (Tuesday is my best day), I will visit three new potential customers, as a step towards visiting 50 this year'. Put it in your diary, Outlook or whatever as if it is an appointment with yourself. Ring-fence that time as the most important thing you are going to do and it cannot be shifted. You will need to be disciplined ? if you are, it will work.

The key here is to create actionable steps in bite-sized chunks which you believe you can do.

As someone once said (with apologies to elephant lovers), 'You can only eat an elephant one bite at a time!'

?and finally

Remember that in life and business, you personally have the choices to make. No-one else. It is your responsibility how you act and challenge yourself. Take the responsibility and give it a go. Life is not a dress rehearsal ? Grasp the opportunities you have today and every day.

Further reading on the GROW model (should be available from libraries)"Coaching for Performance: Growing People, Performance and Purpose", Sir John Witmore.

Copyright 2005 Martin Haworth is a Business and Management Coach. He works worldwide, mainly by phone, with small business owners, executives and corporate leaders. He has hundreds of hints, tips and ideas at his website, http://www.coaching-businesses-to-success.com.

(Note to editors. Feel free to use this article, wherever you think it might be of value - it would be good if you could include a live link)

...helping you, to help your people, to help your business grow...

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The Importance of Business Goals

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