January is a time when many of us choose New Year resolutions or set goals for the coming year. You probably have heard of S.M.A.R.T. goals. These are Specific, Measurable, Attainable, Realistic and Time-Based.

Let’s break it down and get started with setting a goal or goals that are Specific. I would recommend that you think of goals you can set for all areas of your life. Business, Personal, Financial, Health- all of these are important. Within each of these categories you would come up with individual, Specific, goals that will help you achieve your big picture.

As a Business Coach I mainly focus on the goals that affect your business, but challenge my clients to create a complete plan with goals for all areas of their life. In doing so, they will find that the goals intermingle and help you in all areas.

What are some Specific goals you could consider for your business?

• Financial- This is often the first goal we set. What kind of revenue would you like to generate this year? Will you try to cut expenses, or will you increase those to align with expected increase in sales? How about your profit margin? What could you do to improve that, and by how much?
• Products and Services- What new products or services could you- and should you- be adding to your business this year? 2020 definitely showed us that some things had to change and needed to change.
• Marketing and Sales- Marketing channels have seen a major shift this past year. An online presence became critical for most businesses and it will continue to be critical to the success of most businesses. Marketing gets them to your door. Sales are what happens once they are there. What new goals will you set to increase your sales this year?
• Customer Service- There is a direct correlation between this category and your sales goal success. Goals here might include new or advanced training for your staff or really upping your game when it comes to customer service.
• Staffing- Will you see an increase in your staffing this year? What areas will you need to add to? Will they be employees, or will you utilize Independent Contractors or job some duties out to subcontractors or Virtual Assistants?

One last thing- Specific goals should be just that- Specific!  When you are setting goals of increased revenue the goal is not “increased revenue.” It is increase revenue by a certain percentage or specific dollar amount. Think of Specific Goals and Detailed Goals that you know exactly what you are working towards.

Next time: Creating Measurable Goals.