Business goals

How to Set Business Goals in 2022, According to the CEO of Naturalicious

  • Gwen Jimmere is the CEO and founder of hair care brand Naturalicious.
  • Jimmere shared the diary she uses to plan and set goals for a new year.
  • For example, his company aims to increase its wholesale revenue by 45% in 2022.

When setting goals for your business for the new year, it helps to do so outside of the office.

Gwen Jimmere, Founder and CEO of Natural, a haircare brand with 47,000 Instagram followers, takes its leadership team on weekends each October to set their goals for the year ahead.

“We use it as a corporate retreat and team building opportunity,” she told Insider.

In 2021, Jimmere took his CFO and COO to Jamaica. Other years, she booked a nearby hotel in Michigan and hosted a wine tasting at an Airbnb. You don’t have to travel far — the important thing is to get away from your usual place of work, she said. Plus, there are benefits to going somewhere warm, like spending time at the beach after the planning is done.

“You have to take breaks,” she said, or “your execution isn’t as good.”

Jimmere gave Insider the program she used to set her company’s 2022 goals and explained how business owners can use it for their own planning.

Gwen Jimmere sits at the head of a table and her employees sit on either side of her.

Jimmere (center) with Naturalicious employees.

Gwen Jimmere

Prepare by collecting data

Before planning goals, the 11-person Naturalicious team prepares for weeks. Managers write reports and each employee is asked to write a SWOT analysis breaking down the strengths, weaknesses, opportunities and threats within their department.

“It helps them feel connected, like their opinion matters,” Jimmere said, adding that it’s important not to skip this step. Goal setting is much smoother when you’ve gathered all of your financials, sales history, and team information.

During the trip, Jimmere, his CFO, and COO meet, review their agenda, and recap the past year. This is when they read all of their team’s SWOT analyses, which can take up to three hours.

Every employee’s feedback is important and many of their ideas have had an impact, Jimmere said. For example, one employee suggested adding company benefits, and last year Naturalicious provided benefits including 401(k), vision and dental care for the first time to all employees.

“It changed everyone else’s livelihood, because of one person’s intervention,” she said.

Review your company’s core values ​​and set goals that align with them

After the annual review is complete, the Jimmere team reviews the core values ​​and purpose of the business. Then they set three to five year goals, annual goals and strategic initiatives.

“You have to define your core values ​​first, because everything else aligns with that,” she said.

Your company’s core values ​​and purpose should remain consistent from year to year because they are the founding principles of your business, Jimmere said. One of Naturalicious’ values ​​is that “every woman is the standard of beauty” and that its products are made to “help her shine”.

Jimmere then sets goals starting with the long-term ones and breaks them down into goals for the following year. One of the company’s goals for 2022 is to increase its wholesale revenue by 45% so that its products can be more widely and easily available. This aligns with the company value of serving every woman.

“Not everyone wants to wait for shipping,” Jimmere said. “Sometimes they just want to go to the store because it’s time for them to wash their hair.”

Establish an execution plan and delegate tasks

The next phase of Jimmere’s strategy is to create execution plans. First, the team establishes revenues and agrees timelines based on what is feasible.

“The dreamer in you as an owner can have these really amazing goals, but you have no way to realistically get there,” Jimmere said. “That’s why I still have my COO and my CFO, because they’re the analysts.”

Finally, they plan the first trimester. Jimmere creates a color-coded calendar and assigns due dates to each employee. To manage her time well, she follows a rule to delegate, automate or eliminate each task.

“My job is to help everyone in my company achieve their goals,” she said. “You have to create an environment and a culture where it’s easy for them to do their job and do it well for them to be successful.”

Gwen Jimmere's Annual Planning Diary - p.  1

The front page of Jimmere’s planning program.

Gwen Jimmere

Gwen Jimmere's Annual Planning Diary - pg 2

The second page of Jimmere’s diary.

Gwen Jimmere