Setting Achievable Goals for Your Business

by Bill Fournet | April 20, 2016

In business, how well do we recognize and celebrate victories? How often do we actually achieve them?

setting achievable goals for businessIn order to celebrate a victory, we must first have a clear goal or objective. That goal must be realistic and achievable. We must have some authority and mandate to corral the people, processes, and tools to complete it. We should know what the goal means to the company or our team.

Requirements for Setting Achievable Goals

Many organizations fail to achieve their victory because they have not defined clearly one of the following requirements:

Attainable. Any goal can be dreamt, but before dedicating time and money to it, the company must ask if it can be achieved. Do we have the capabilities, experience, and resources to attain its completion?

Empowered. Once people are assigned to pursue a goal, one of the first questions they should resolve is their decision-making authority. Can they resolve issues? What decisions require executive involvement?

Meaning. Many goals fail because they lack urgency, focus, and commitment. If a company establishes a goal or objective, but it does not have executive support and commitment to achieve it, then the goal will likely not be reached. Once the team hits problems or questions their ability to successfully achieve the goal, the strength of its meaning—to the team and to the company—gives them reason to press onward.

Working Toward Your Goals

If your goal meets all three of these requirements, then the next phase focuses on managing the work towards achieving it. Any team members working towards the goal should be able to answer (at any time) the following questions: How well are we progressing towards its completion? Are their issues or barriers preventing us from completing it on time and in budget? Has the situation around us changed that requires the goal to be reevaluated for priority?

Finally, once the team reaches the goal and declares “victory”, the company must recognize the accomplishment. So many organizations just move onto the next goal without any recognition of the “wins” that the team members start to question “so what were all the blood, sweat, and tears for”. Our military constantly achieve goals—moving from one to the next. But, they also recognize their victories—no matter how small or big. At the office, we should follow their lead.

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