What Do You Want? - Defining Your Goals
Defining where you want the company to go and where you want to go as a person is essential to building the business you want. It helps make the day to day decisions because you know which direction to go.
What Do You Want From The Company?
When you started the business, why did you do it? Was it the money? The freedom of being the boss? Love of the trade? Or something entirely different. Sometimes as we go down a path, we lose our sense of direction. The best thing to do is to take a second, reevaluate the direction you’re headed and make sure it’s the way you want to go. The same goes with running your company; make sure that the the company is heading in the direction you want it to be.
You need to take a good look at what you actually want from the company, that way you can work towards it. Do you want to build an empire that takes all your energy, or are you looking to build something more modest that allows time for you to do other things?
Is The Vision Big Enough?
Your vision statement should be the overall dream for the company. The best product or service in your industry? Largest job producer in the community? Most impact? Etc. Some have this in place from day one. It can be changed along the way; if you don’t have one yet, take the time to decide what the vision for you company should be.
This statement defines the direction you want the company to head towards; its north star. The best ones are focused on impact they will have on people. For example, IKEA’s is, “Our vision is to create a better everyday life for many people.” It’s short and impact driven. Another example is Patagonia’s, “Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.” They outline the vision for their products and the impact they envision for the planet.
Turning The Vision Into An Overarching Goal
Now that you’ve revisited the vision for your company, you need to turn that vision into an overarching goal. What needs to be achieved in order to fulfill the vision? This goal is something that both you as the owner, and your team can work towards. It will not be achieved overnight, and may take years; but it is a goal that is meaningful.
Breaking Down The Goal Into Short Term Goals
Looking at the overarching goal, what do you need to have done this year, quarter, and month in order to make progress to the larger goal? Do you need to hit a higher level amount of sales or get new clients, hire a certain number of people, automate systems, buy equipment, among others? You need to break it down into bit sized pieces and ultimately work backwards to see what needs to be done in order to achieve the bigger goal.
Start with what you want in life and from your company. Define the vision your business and turn it into an overarching goal. Break that goals down into smaller milestones that are manageable and allow you to celebrate wins along the way. It’s not always the destination you seek, enjoy the journey there.