After a few months into the new year, most people are realizing that their goals may need a tweak or two. Whether you’re an entrepreneur who’s on your own, or if you’re using a successful business model such as franchising, goal review is a necessity. Between an ever-shifting economy, changing customer trends and dozens of other variables that are out of our control, most business goals need a bit of modification.
The good news is that if there is one thing you can control, it’s how you focus the direction of your business. No goal is final, and now is the perfect time to track your current progress and make the necessary alterations.
As you did when you set your initial goals for the year, there is a step-by-step process when making mid-course adjustments. Let’s call it “Review, Shift and Audit”.
Take the time to review where you were before you created your new year’s goals. What led you to choose the goals you did? Did part of your goals work? What part didn’t? Is there something you’ve been doing that hasn’t shown any hope of working?
Use this step to pinpoint what needs to be changed, and then move on to the next step.
Once you’ve identified what hasn’t worked, take a deep breath. It’s ok that your initial goal didn’t measure up to your expectations. A true sign of success is admitting you need some help and are able to make the needed adjustments.
Remember why you made your initial goal. What did you want to achieve with it? Was it a 10% increase in sales? Was it a leaner bottom-line? Was it a larger profit margin? Whatever your initial desires were, it’s time to revisit.
Now that you know what didn’t work with those new year’s goals, make the needed tweaks. Write them down (pen and paper often works better than a screen!). Be sure they make sense and align with your original wants. It’s like creating a map…all roads need to lead to the final destination.
Make an Appointment to Audit the Goals
Goals should be reviewed on a regular basis. You should always remind yourself of what you’re doing, and why you’re doing it.
The time period is up to you. Every week, once a month, quarterly…whatever works best. Some like to take a minute every day to review. But just remember…as soon as you see something is not working, don’t be afraid to change it up before moving forward again. After all, the world isn’t standing still, so why should your business goals!
As a final thought, consider making more short-term goals. Annual and longer-term goals are fine, but they are often built on what happens in the short-term. Monthly and quarterly goals can help you build your business on a stronger foundation.
Franchise Matchmakers is a team of franchising professionals that are dedicated to helping people explore business ownership as a career path. Contact them at firstname.lastname@example.org to find out more about franchising options that are perfect for you.