Posts

Don't Overcomplicate Your Business Goals

avatar of @hivehustlers
25
@hivehustlers
·
0 views
·
3 min read

Image sourced from Pixabay

One thing that stops business dead in their tracks are really either one of two things. One they do not set proper goals, or they over complicate their goals. Admittedly, this is something that I struggle with and working on for my own businesses. This article is based on my own business goal setting experiences. The theme of the future is to keep things simple and see more from my efforts.

Keep It Simple

Many business owners are under the false assumption that goals have to be some kind of formal document consisting of several hundred pages. There are businesses who have been successful with goals written on a single page or some even on the back of a cocktail napkin. While not every business will have the luxury of keeping their goals to one page, the consensus is to keep your goal-setting efforts as simple as possible.

Goals need to be usable and manageable. If you create a multipage document that is both unreadable and unmanageable you have wasted your efforts and your time. If the goals affect others, you will be wasting their time as well. When you set out to create clear and concise goals, people will find them easier to work with.

Getting Started Looking At The High Level Goals

Start by listing out the major objectives of your business. Keep this stage high-level. It can be as simple as stating you want to increase your customer base by 12% within the next year or your profits by 40%. Another possibility is setting specific targets. This gives you something to shoot for. There are no right or wrong answers during this first pass, and you can make changes as necessary. Look at your goal document as a living document. Things can change and evolve over time. Being open to changes is also a key to building any business, because things are not always going to go your way.

Working Your Way To Success

After you are happy with your high-level goals, it’s time to dig in and create tasks that will accomplish the high-level goals. When you determine what these are, assign dates to complete them by. Determine any prerequisites for completing them. These could include funding, training, etc. The more specific you are with the tasks, the easier they will be to accomplish.

If you have multiple people who are going to help you with your business goals, you will need to match up who is qualified to perform which tasks. You also need to make sure they can accomplish them in the period given. It’s a good idea to ask them if they feel comfortable with the amount of time allocated. Some managers may even choose to add extra time as a fudge factor, to ensure successful completion. Other managers will try to undercut the time as a way to push their employees. Which way is better, will depend on the team. I am one for the under promise, over deliver approach, but at the same time, a good deadline is fun to hit.

Wrapping It Up

Creating goals for your business is an ongoing process. It changes as the needs of your business changes. There can also be situations when members of the team leave before all the goals are complete. By keeping your goals and tasks as simple as possible, you will set up an environment where these situations will not have a big impact on completing the overall goals.

Setting metrics and deadlines can help you and your team achieve your goals, but again, do not be afraid of changes, which are going to happen. You may think you have it all figured out in the planning stages, but with development starts... Oh boy things can change in an instant. The best entrepreneurs are the most adaptable people on the planet!

Good luck with your goals in the new year!

Keep calm and Hustle on!

Main info site: https://hivehustlers.com

Hive Blockchain community: https://hivehustlers.io

HiveHustlers Community on Peakd: https://peakd.com/c/hive-183630/created

Check out our multi-token DEFI ecomomy: https://hivehustlers.com/token-economy