Seven steps to creating achievable goals for your business

By Christina Bentley on January 16, 2020

Aim to take your business further

Creating realistic goals will help you realise your business’ true potential and avoid any roadblocks to success along the way.

In this blog, Lead Tech’s head of strategy, Andy Longhurst, shares his expert advice on formulating achievable goals that will help you accomplish more with your business.

Step 1: Define areas for focus

The definition of success is different for everyone. That’s why it’s crucial that you determine what good looks like for your business. A good way to do this is to run a SWOT analysis.

We do this regularly at Lead Tech to find new ways to improve our leads and maintain a competitive edge in the financial services lead generation market.

SWOT analysis can help you pinpoint where you’re performing well and should continue to focus your efforts. More importantly, it’ll help you identify areas for improvement to enhance future performance.

Step 2: Maintain perspective

When you build your goals around your business aspirations, you’ll be able to define a stronger strategy to get there. The key is staying on track.

Looking too far forward can lead to tunnel vision, which will set you off course. But you can find your way back. Remind yourself why you wanted to become a financial adviser in the first place by referring back to your mission statement and vision.

Was it to offer exceptional service to your clients? Did you aim to expand your team or specialise in a particular field?

Step 3: Make your goals SMART

Now that you’ve determined what you want to achieve with your business, it’s time to start creating goals. At Lead Tech, we use a popular strategic method called SMART, which stands for specific, measurable, attainable, relevant and time-based.

We use this approach for every change and improvement we make at Lead Tech. It helps us continue to evolve and identify new opportunities for growth.

SMART goals can help your business achieve more, faster. Here are the fundamentals you should consider when creating your goals:

  • Specific: Clearly define what you want to accomplish.
  • Measurable: Identify milestones and targets to track your progress.
  • Attainable: Keep your goals manageable and within reach.
  • Relevant: Every goal should be realistic, fit your business model and be relevant to current market performance.
  • Time-based: Every goal should have a deadline to help motivate you to reach your targets.

Step 4: Get everyone on board

Now that you’ve identified your goals, you’ll need to work with your team to establish the necessary steps to achieve them. Here are four questions to ask yourself:

  1. What steps need to be actioned?
  2. Who will manage and/or deliver each task?
  3. What support is needed?
  4. How will progress be fed back to the team?

A structured approach will help you gain the most momentum. Communicate with your team and follow established best practise for meetings and updates. This will help you work smarter and meet agreed timescales.

Task management tools like Asana help us manage projects across all our teams and boost productivity. This tool is just as helpful for financial advice firms and professionals.

Step 5: Keep your goals visible

Communication is vital to maintaining momentum. Make sure everyone in the business is aware of your goals and development and can track progress.

Making your plans public will also give you more motivation to reach your goals. If possible, share your plans with your external clients and partners. Most likely, they’ll be eager to know what’s changing, how it’s changing and when they can expect to see the benefits.

Step 6: Follow up

A well-structured plan will help you meet your goals, but remember, nothing is set in stone. Flexibility is your biggest strength.

Meeting regularly with key stakeholders will help you keep everyone on track and avoid any pitfalls that might arise.

Step 7: Celebrate your success

Achieving business goals takes hard work, determination and patience. So, don’t forget to have a plan in place to reward yourself and your team when you start meeting them.

And don’t get overconfident by trying to achieve too much, too soon – this is where many businesses fail.

Keep moving forward

You should now have a set of realistic goals, but don’t let them gather dust. Remember, success doesn’t stop once you realise them – you’ll always find more targets to aim for.

By committing to the steps above, you’re certain to find a clear path to where you want your business to go today, and in the future.

Work with Lead Tech

We’ll work with you to help you realise your ambitious business goals.