by Blair Butters | Sep 12, 2019 | Uncategorized
One of the biggest mistakes business owners can make is not dedicating enough time for business strategy and future planning. When this happens, companies miss out on opportunities to protect their revenue and maximize their growth. By taking a step back, reviewing the year to date, and considering some goals for the future, business owners can set up their team for success. Investing time in business strategy planning can yield one of the highest returns possible! Get a jump start on your 2020 business strategy planning with some of our tips, below. Create SMART Goals As you are starting your review prior to year-end, review current year-to-date business information, including financial statements. Consider any changes in your staff, customers, and other data you’ve collected since the last year-end. Do you notice any patterns or insights from the data that you didn’t expect? Is your company meeting its growth goals? Consider what could have been done differently, or any extenuating circumstances that may have affected your numbers. Based on what you accomplished in the last year, set some realistic, actionable SMART goals. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-Based. By using this framework to set goals, you’ll be able to break down a huge annual goal into strategic, smaller steps that can be accomplished over time. “Acquire more customers,” for example, is not a SMART goal because there is no measure of success. How many more customers would be a measure of success? An example of a SMART goal: “We will secure 15% more contracts in 2020 than we did in 2019 by increasing our monthly internet ad...
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