Have you made resolutions to get your business to the next level?
Are your goals SMART enough?
Are they inspiring your employees to take action?
Goals are the observable results of achievement. Goal setting is the process of deciding what you want to achieve, identifying the required resources, and developing an action plan.
If you have yet to set your business goals, consider the benefits of goal setting below.
Five Top Benefits of Goal Setting
As an entrepreneur or business owner, you shouldn’t ignore the importance of goals setting to your business. Goals are important in providing direction and focus to grow of your business.
This is especially true for anyone who might be working from home or stuck in a cubicle all day. When you are working on your own and not told exactly what to do, you need to be setting your own goals and the determination to get things done.
Whether it’s writing down such goals on a piece of paper and then checking them off, or using a mobile or online application, it’s all about getting your actions into motion to simply get more done.
Other benefits and methods to accomplishing this include:
1. Inspire and Sustain Progress
The importance of goals setting lies in the ability of goals to inspire and sustain focus. When your business sets SMART goals, your employees know what to do and they can gauge their performance.
As they achieve the smaller steps, they grow in confidence to work towards achieving bigger results. This results in the constant growth of your business. Your employees will grow in their skills and get motivated to keep improving as they see results.
2. Using Video to Increase Productivity
With so many different productivity tools and applications on the market today, it’s important to know where your strengths lie when trying to increase productivity or motivating others.
Through the use of an online creation tool like mysimpleshow, the ability is there to create interactive and engaging whiteboard animation videos to better portray your message.
You can see a clear example of this in the video example below.
At the same time, there are many personal benefits for creating your own whiteboard video to accomplish more and hit your goals.
As mentioned on the simpleshow website, creating such animation and explainer videos aren’t just for marketing and teaching others, they are also great for inspiration, mind-mapping, and hitting your own goals as well. In addition to goal setting, they’ve also seen massive engagement improvement with school students and professionals when delivering information in an audio and visual platform.
Their site went on to say, “Our illustration-style simpleshow explainer videos are most effective if you”:
- need to tackle complex tasks
- want to explain difficult topics in a simple and digestible way
- have to explain almost inexplicable information
Before taking on your next big project, be sure to consider your options with laying everything out in video form, and them working your way through it and sharing it with team members along the way.
3. Increase Productivity and Profitability
When setting goals for your business, you’re aiming at getting more work done and increasing your earnings. Setting goals defines what exactly you want to achieve, and how you’ll get there.
The process also includes identifying the needed resources, skills, and competencies. With this knowledge, you can train your employees or hire skills, which keep your business on track for consistent growth.
Setting goals also improves the decision-making abilities of the organization. The information you collect during the goal-setting process helps you identify where the business is at and chart out a path for the future. Informed decisions will eventually result in business growth.
4. Measure Progress
Your business can’t ignore the importance of goals in measuring progress. Good goals are measurable both in the time it takes to achieve them and the results achieved.
Monitoring is a crucial part of goals setting through which your business measures how far it is at achieving its goals.
Here, the business identifies areas for improvement as well as weaknesses. This way, your business can adjust accordingly to fit into the changing economic times, and you can set bigger goals if you have achieved the previous ones.
This same task can also be accomplished by using the Seinfeld Strategy as well.
To measure progress in your achievement of goals, you need to build a monitoring system such as recording the progress of a task.
5. Collaboration Among Employees
Your employees will work together more when they have a common goal. They can share resources, expertise, and insights. Eventually, your business grows from the harmonious working of the employees.
Goal setting should be a regular practice for your business. You can learn more about how goal setting can improve your business’ performance on this blog.
Six tips that were laid out in this article for improving productivity and collaboration with other employees are:
- Stretch your outlook.
- Know the key steps of the goal-setting process.
- Create a nimble goal development team.
- Gain buy-in.
- Communicate, communicate, then communicate some more.
- Remember to celebrate achievements.
Grow Your Business In 2020
Goal setting builds the foundation of your business, which employees refer to for inspiration and direction. The above benefits of goal setting should provide you with enough reasons to set goals for your business.
However, the most important task in this whole process is making sure you have a goal in place and are taking action to achieve it.