Wednesday, March 11, 2009

Setting Goals

Setting goals - the tangible, reachable kind – is one of the most important things you can do for your business. A goal gives you something to focus on and set in varying stages of complexity they allow you to map out a future for your company. Having a mix of long and short term goals helps a company and its employees to stay focused.

It’s easy for a firm to become so overwhelmed with the day to day that everyone becomes a master at production and so when a new project lands on the boards people start working immediately with no though to goals. No one asks – what’s the goal for this project? Is it to produce a 15 percent profit, to break even, but be well aligned for future projects or do you realize you’ll likely lose money on the project but you’re willing to take on the risk because it’s got the potential to be an award winner for your firm?

Starting with a goal in mind will help you to better align your marketing and business development efforts. A firm whose goal is to make a 15 percent profit on all projects will run differently and seek out different clients than a firm whose goal is to line its walls with award winning projects. Goals are individual and fluid; they can be changed or re-aligned over time. The key is in establishing your goals early. That’s what will position you for greater success down the road.

Image from flickr, by quasimondo

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