How to Manage & Meet your Business’ Strategic Goals
So you have just started a new Business! Congratulations!
So now the most obvious thing is that you have invested a fair amount of money and you know that you need even more money to pour in, to keep your new business afloat! If you are lucky and you started off with a sound business plan you might start to see a return on your investment straightaway… Yeahy! You might even need to grow your business a bit, to accommodate the spurt; hire a few more hands maybe, or acquire a bigger space for your business – at any rate, there is the risk that things might grow out of hand and you would need to take a step back to take an in-depth account of operations to ensure you have set and incorporated strategic goals to help your business continue to grow successfully.
Once your business has been analysed and you have set the wheels in motion around the new goals set, you can now sit back and watch the results roll in.
Unfortunately the longer you wait the less you seem to be able to meet the goals you have set and the much awaited results never materialised.
Keep reading my blog, to identify some common reasons as to why your business might not be meeting its strategic goals and what you can do to mitigate this:
- Unrealistic Goal Setting
The founder of noonday ventures, Ted Harro maintains that, businesses that set unrealistically high goals create a business culture where failure becomes acceptable and expected. Such businesses also always maintain ineffective teams that are always just going through the motions.
It is always ambitious to want to challenge your employees, however stretching their skills way beyond their scope and remit will no doubt result in a negative outcome. In order for your employees to achieve their goals, they must be grounded in reality.
Therefore make sure of the following:
- Goals set are achievable in the time-frame set.
- Goals set are achievable with the budget and tools available.
- Goals set are achievable with the amount of employees, responsibilities and skill set.
- Include catch-up time – as some things might take longer than expected and others could be added to the schedule unexpectedly.