As a business owner or manager, you’ve always got plenty of things piling up on your to-do list. Personal and professional development is likely never far from your thoughts. But, have you ever thought about how improving your goal setting skills could help you to achieve better business growth?
At TBG, our ambition is to support growing businesses and encourage them to achieve greatness through expert OKR implementation. To help, we’ve put together plenty of goal setting tips to help you improve your strategic focus and outline your plan for achieving your business goals.
Why set business goals?
Business goals are a vital element in the success of any business. Whether you’re a large or small organisation; with lofty or conservative ambitions; with experience in business or you’re setting up shop for the very first time, effective goal setting is a crucial part of the process.
Setting business goals has many benefits; put simply it allows you to establish exactly what you want to achieve. Without a roadmap in place, you don’t really know where you’re going and can’t properly plan a route to get there. Alongside that, goal setting also:
- Provides focus
Smart goal setting (like OKRs) doesn’t just give you a target to work towards – it breaks down your main objectives into smaller, bitesize chunks so you can focus on one thing at a time and prioritise tasks efficiently.
Many businesses adopt a scattergun approach without stepping back to ascertain which step in the process deserves their attention first. Whereas the OKR process provides your team with manageable goals to work towards.
- Helps measure success
Having specific business goals in place allows you to clearly see your progress and whether you’re hitting your targets. Rather than basing your success on stats alone, you can see how the business is developing and progressing over time.
- Improves employee motivation and engagement
When your organisational goals are being tracked you can clearly see when you’re hitting milestones and progressing. This is highly motivating and a great morale boost for you and your teams. Knowing what works (and what doesn’t) helps you to drive things forward confidently.
Knowing what you want to achieve isn’t the only aspect to focus on here. How your business goals are formulated also matters. When you only have a rough idea of what you want to achieve without smart steps to reach each stage, you can’t effectively implement your plan, or manage the process for a positive outcome.
Top business goal setting frameworks to follow
At TBG, we’re passionate about supporting businesses as they implement effective goal setting frameworks to enable more efficient growth. Although goal setting for your business can feel like a daunting task, the good news is that there are frameworks you can follow to simplify the process. This can help you to improve your goal setting skills tenfold!
Following a set structure also ensures your plan is watertight and can serve you successfully. This is where OKRs come in.
OKRs go a step further than traditional goal-setting techniques. They allow you to accurately define objectives and track your results in real-time. Setting and communicating your business goals helps everybody in your company to move in the right direction. This ensures everyone is utilising resources effectively and are adequately prepared for the challenges and success that come with business growth.
We’ve got plenty of resources and guidance specifically on the benefits of OKRs here.
Goal setting books, resources & guides to improve your skills
The great thing about our digital culture is that you can find an abundance of helpful resources and guides filled with goal setting tips to support you. We have some handy goal-setting resources here at TBG to share with clients (download our Beginners Guide to OKRs here), but there are plenty of others out there, too.
Goal setting books: If you’re an avid reader, sinking your teeth into some goal setting books can help you to get clear on how to establish a plan for your business and improve your goal-setting skills in the process. Check out our OKR book recommendations here.
Watch YouTube videos on goal setting: YouTube is a great place to find speeches and resources by prominent speakers to start your journey to acquiring some awesome goal-setting skills. If you’re a visual learner some videos are graphics-based to break down the processes and practical side of goal setting in an interactive and engaging manner.
Goal setting podcasts: Always on the go? Stick a goal-setting podcast on when you’re driving, in the shower or making dinner to download some expert knowledge and goal setting skills without having to carve time out of your busy schedule. Check out our OKR focused podcast Giant Talk.
Ready to put our goal-setting tips into practice and see what OKRs can do for your business? Get in touch with one of our Giants today for a friendly, informal chat about how we can help.