What Can You Do Now to Make Your End-of-Year Goals?
Tuesday, August 27, 2013 • 12:06pm
Summer is drawing to a close, the kids are heading back to school, and your employees are shaking off the remnants of a blissful vacation. The approaching fall season symbolizes the common adage “out with the old and in with the new,” and it also means your company’s third quarter is coming to an end. So, what can you do now to make your end-of-year goals for your small business?
Review this year’s business plan or any other documentation listing your small business goals, and then assess what you’ve planned for your business this year.
Are you on track to reach them by year’s end? Determine why or why not, by figuring out any crucial steps that have brought your business to its current standing. Strengthen any weaknesses in your current strategy and re-write how you plan to overcome this misstep.
Setting and accomplishing goals is an integral part of maintaining a successful small business. If you believe the end-of-year goals you’ve created are overwhelming, set smaller attainable goals that are feasible. Every victory should be celebrated, regardless of how small the goal.
Business tends to slow down during the summer months and as a result, your team may have gotten a bit lax on generating new sales. If your team doesn’t get re-energized you just might finish this quarter with poor sales and fall short on your revenue goals for the end-of-year.
Inc. Magazine’s Howard Greenfield shared how Managing partner Doug Hall from Dallas-based company, Financial Additions, motivates his employees:
"Everyone has to list the 3 things they are most proud of, and 3 'do-overs.' We also ask for the one thing they are going to do differently and one thing the company could do different. We then set goals, hand write them and sign the handwritten statement, and put the handwritten notes in a box (time capsule) in the conference room. Monthly, we pull out this handwritten list, pass it out and remind everyone of their own personal commitments in their own handwriting. The goals are posted in a more formal outline in the office for view but there is something about handwritten commitments that makes a difference."
This is just one innovative idea on how employees can examine their goals and also remain accountable for failing to reach them. Discuss setting personal commitments that contribute to the success of the company with your team and how they plan to reach them by year’s end. Consider creating incentives or rewards when a goal is accomplished.
According to American Express OPEN Spring 2013 Small Business Monitor, 49% of small business owners plan to take even a week long summer vacation this year. If you’re a part of the many small business owners who have a difficult time stepping away from the computer and Blackberry for a few days, re-consider taking a vacation before the year’s end.
A vacation can help you re-focus and re-energize for the remaining year ahead and de-stress from the past year. You’ll be able to tap into the inspiration behind your goals and gain the motivation to tackle any challenges your goals may bring when you return. Never underestimate the advantages of taking a well needed vacation even if summer is almost over, your business can still benefit.
No need to wait until December to examine if you’re on track to make all your end-of-year goals, the perfect time to start is now.
I would like to thank Kymberly Sheckleford for preparing this article with me. Kymberly is a Marketing Analyst at C2G Resourcing a subsidiary of Consultants 2 Go, LLC. Don’t forget, you can email me at Peggy@Consultants2Go.com with any questions you might have and I’ll be glad to answer them. You can also follow me and my business on Twitter @peggymchale and @consultants2go.
Peggy is the co-founder of Consultants 2 Go® (C2G), a consulting firm that provides marketing solutions to Fortune 500 companies in the Financial Services, Telecom, Life Sciences and other industries. Consultants 2 Go was just named to the Inc. 500/5000 List as one of the fastest growing companies in the United States. Prior to starting C2G, Peggy was a Vice President at American Express. She holds an MBA from St. John’s University and a BA from the College of Mount Saint Vincent. She recently served as a member of the Advisory Board for The Academy of Our Lady of Peace, New Providence, NJ.
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