Business Goal Setting and Then Following Through
Below is a MRR and PLR article in category Business -> subcategory Management.
Business Goal Setting and Follow-Through
Summary:
Turn your great ideas into reality with effective goal setting.Introduction
Your business can't succeed without a clear plan. What do you aim to achieve this year? More new customers, higher average order amounts, or better customer service ratings? Goal setting is essential for your business success, and here are some tips to guide you.1. Set Challenging yet Realistic Goals
Your goals should push your business forward but remain achievable. For instance, if last year's average order was $700, it's unrealistic to aim for $3000 this year without significant changes. Be honest about what’s possible in your industry and set goals accordingly.2. Write Down Your Goals
Simply thinking about your goals isn't enough. Write them down. If you decide in January to gain 20 new customers weekly, you might forget or confuse your target later. Documenting your goals allows you to track progress and stay focused.3. Evaluate Your Current Position
Understanding where you stand is crucial before setting new goals. In 2003, I assessed our customer service by sending surveys to customers. Now, post-purchase surveys help us consistently track performance. Don't make assumptions; always evaluate your current situation.Financial Goal Setting: Budget for Success
One key question arises in financial planning: How much should you budget for your marketing campaign to reach your income goals?A practical approach is to allocate 14% of your last month's gross income to marketing. If your income was $50,000, budget $7,000 for marketing. This might seem daunting, but like a small investment, it pays off in future growth.
If a 14% budget feels steep, start with what’s feasible. Any marketing is better than none, but aiming to reach 14% can significantly boost growth. My company grew 400% in two years using this strategy. Imagine your business expanding similarly.
Conclusion
The growth of your business hinges on quality products, excellent customer service, and effective marketing. If the first two are on point yet growth stalls, reassess your marketing budget.Take time this week to set your goals for the year ahead. Even if you’re mid-year, keep setting objectives. Progress is easier when you’re working toward something. My goal is your success, and I assume that’s yours too.
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