Business goals

13 Key Ways To Stay On Track To Reaching Your Business Goals

As the first quarter draws to a close, companies are starting to see if their plans for the New Year are working as well in practice as they are during the planning phase. This offers organizations a chance to correct their course, adjusting goals and procedures before things get too defined.

Clarifying your annual benchmarks takes initiative and effort, but it’s a good way to make sure your business is on the right track. To establish what people plan to do this year, we asked 13 entrepreneurs from the Young Entrepreneur Council (YEC) the following question:

“What goals and benchmarks do you set for your business in 2018 and how do you plan to achieve them? “

Your business goals: ways to stay on track

Here’s what members of the YEC community had to say:

1. Break down goals and benchmarks

Breaking down business goals and benchmarks at the team level speeds up progress. The development team knows what it needs to do to bring the business to the defined benchmarks, just like the sales team and all other teams. Plus, encouraging employees with instant rewards is something we plan to do over the coming year. This will keep them motivated and on track to achieve goals. – Liam Martin,

2. Give ownership to your team

No single person can do it. Show your senior team members how to lead, and show all of your staff how to be passionate about what they do. Allow them full ownership of their projects, and give them the freedom to make decisions. Learning to deal with mistakes will make them more effective with less oversight in the future, and make them more valuable to your overall vision. – Ali mahvan, Sharebert

3. Provide more flexibility

Setting goals, while absolutely necessary, can also be overwhelming. In 2018, the main goal of our team is to remain agile and adaptive. The pace of change in all industries is rapid, and the best operations will work towards traditional goals while preparing to seize unforeseen opportunities. – Ryan bradley, Koester & Bradley, srl

4. Eliminate projects and services that don’t sell

Not all products and services will be the best sellers and when something doesn’t sell it’s easy to get frustrated and give up. To keep my team and I on track this new year, we decided to eliminate the one product that didn’t sell (after trying to market it in three different ways to different audiences). Time to throw it away and move on! – Kristin marquet, Creative Development Agency, LLC

5. Set and exceed reasonable goals

The most effective strategy I have discovered when it comes to setting New Year’s resolutions is to start with a small goal and work to exceed it as much as possible. This same approach has served me well in business – I set a goal that will take some work, but is reasonable to accomplish in about a quarter. From there, I encourage my team to greatly exceed this modest goal. – Bryce welker, CPA Exam Guy

6. Set a goal based on numbers

Last quarter, we asked each employee to set a specific number-based goal. Jessica will bring 1,200 new users per month to our site with Facebook, or Keith will increase our checkout conversion rate by 1% this quarter. The results were amazing when each employee had a tangible goal that they were striving to achieve. In 2018, we’ll go even further by doing this quarterly. – Scott baxter, PlayYourCourse

7. Embrace controlled chaos

In 2018, managing our collective psyche and being comfortable being uncomfortable is what is most important. When there are countless things we want and need to do, or to continue to improve, it can become difficult to prioritize what is being done and avoid getting overwhelmed. We have to find calm in the chaos, and we have to embrace and enjoy the process. – Brett Maloley,

8. Reconfirm that the team is sold on your vision

I firmly believe in the fact that money should never be the motivation to get someone to perform at their peak level. I always hire people who I know for sure and who believe in my vision for the business as strongly as I do. I have noticed time and time again that when an employee is chasing money, they always tend to burn out. They will always want more. You will always have to come up with more. – Rafi chowdury,

9. Create KPIs for employees

One thing I am working on is setting up KPIs for all of my employees. As our business has grown we have done a good job setting KPIs for new hires, but now we need to go around old hires to make sure everyone has measurable goals for the new year. – Syed balkhi, OptinMonster

10. Create a culture of ideation

I’ve noticed that some of the best features of our products come from our customers or our team members. My new approach for 2018 is therefore to ask for more ideas from the team and to accelerate the culture of ideation within the organization. If we can work to execute the best ideas, 2018 will be the best year yet! – Jared atchison, WPForms

11. Look for prospects on the technical side

As a business leader it’s my job to set goals, but I want as much feedback as possible from my team on how best to achieve them. We employ people who are experts in a specific technical field. They are an incredible resource, so I make sure their voice is heard as we plan for the year ahead. – Justin blanchard, ServerMania Inc.

12. Focus our attention

It’s easy to approach the New Year with enthusiasm and ready to tackle any goals you can imagine. I come in and remind my team that the year is not a sprint, but a marathon. We must be diligent and work tirelessly to achieve our goals. I want no one to run out. So while I appreciate the enthusiasm, I approach 2018 calmly, ready to help my teams focus. – Ben Landis, Fanbase

13. Find and hire experts

We knew early on that we wanted 2018 to be a strong year for us, both in terms of growth and quality content. In light of this, we sought out the expertise of business coaches and hired more people for leadership roles. By making these changes, we have created an opportunity for growth and success for the year ahead. – Shawn rubel, Eezy

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