transcription puppy - Four Steps to Setting Business Goals During a meeting with one of my executive coaching clients recently, we discussed a different method to develop business goals. I call it my four-step method. I worked on it with him and found he took to it rather quickly, so I thought I would share it and invite comments. The steps are straightforward. Establish a starting point - In One Page Business Plan parlance, we call this "what results will you measure?" Next, examine your results for the previous reporting period that you will want to measure, usually a year. Then you need to identify a target result for the current period or year. Finally, develop the goal statement - it could be for sales, number of new customers, number of a certain item sold, decreasing expenses, or other areas. Before we discuss this process let's review goals generally. When was the last time you set a goal, or saw a goal achieved by someone else? Even better, when the Boston Celtics (insert Philadelphia Phillies or the Pittsburgh Steelers) set their goal of winning another championship, and they actually achieved it, how did it make your feel? Bet your answer was - pretty good!
How do you set other types of goals? As an executive coach, I will often ask my clients a series of questions. How many times have you set a goal and achieved it? How often did you have a starting point? How often did you have an ending point - a target? When you decided on the goal, did you tell anyone what your goal was? As you were progressing towards your goal, were you able to measure your progress towards it? What do you want to measure in your business? To start, pick 2 areas. For each of these areas, did you have results from last year that you can specify? What are those results? Now, identify a target for this year, 2009. Do you want to increase it or decrease it? Remember my client I mentioned previously? He decided he wanted to measure an increase in sales and a decrease in expenses. Once you have selected two, let's put them into a measurable sentence structure. I have found the best way to do this is to focus on the start and the end point. Put in a verb, add a noun, add a date, and that will equal your goal. Focus on either an increase or a decrease. For instance - Increase sales from $ 1 million to 1.5 million by December 31, 2009. Got it? Now, give it a try. When I work this process with my clients I find focus and accomplishment will occur more readily. Forgive me, but as an executive coach, I have several more questions. How will you use this information in the next week? What specifically will you do to put this knowledge into action? And can you tell me who else might benefit from learning this process? Questions? Give me a shout. I would love to hear your comments as well.