Business goals

How to determine your business goals for 2018

If you haven’t thought about your 2018 business goals yet, now is the time to start. The point is, if you wait until January, it will be too late. At this point, anyone who started planning in the fourth quarter of the previous year is on track to implementing their goals.

If you are feeling overwhelmed by the possibilities, use these questions to help you narrow down your business goals.

What does this year’s data tell you?

I’ve become a huge data geek over the past couple of years. Mainly because I’ve learned to use data to inform some (not all) of my business decisions. I’m such a fan that I even teach some of my strategies to my group coaching students.

One of my favorite data when setting business goals is my good ol ‘accounting software. The numbers can give you a lot of information that you can use to create the next logical goals.

This allows me to see which offers are working well in my business and which I need to abandon. For example, my group coaching program is killing it, so I will continue to focus on that in 2018. This data also helps me do a client audit where I determine which clients to write.

Here is an example of data usage:

  • How much income do you want to earn in 2018?
  • Which offer will help you get there fastest based on the data?
  • How can you improve the sales of this offer?

By simply answering these two questions, you can already begin to create business goals that make sense for your growth. For example, a few years ago I knew a brand change was needed for me to take my business to the next level.

What do you need to let go?

Sometimes business goals can be about what we need Stop To do. For example, I know that in 2018 I have to take time off from travel so much. This is so that I can implement the strategies that will help me reach my income goal for the year.

I’m also a little tired from having traveled so often over the past two years. In other words, it’s time to take a break. What is interesting is that one of my students came to the same conclusion for her business too.

(Note: You’ll notice that this is more of a personal goal that also aligns with my business. That’s okay. The lines between work and people can become blurry when you run your own business. .)

What would be fun to do?

Personally, I think there’s no point in getting into a big business venture that isn’t fun. I have chosen to work for myself so that I can enjoy what I do for a living. That’s why I still wonder if an idea will be fun for me before I undertake it.

For example, I had requests to do workshops in my city. It sounds like a nightmare to me so I don’t. I will stick to the online world where there is less logistics involved.

Final thoughts

By determining your business goals for 2018, you’ll know who to ask for help, what projects to take on, and what to say no to. By determining your goals now, you’ll be ready to go on January 1st.