Long-term goals can be great, but creating smaller milestones can lead you to success faster. How do you connect long-term business goals with specific daily plans? As a business owner, I try to step back and think about where we're going and what we need to do. However, keeping the big picture in mind with so much work to be done in the short term is relatively difficult.
That's why I want to create a system where planning milestones are specific, measurable goals that you can work towards in the short term, share with your team, and celebrate when you achieve them. They're not just goals, but milestones on a long journey; you have to see them as stepping stones to success. And because they're specific and measurable, you'll always be sure you'll reach them.
1. LANDMARKS ARE IMPORTANT MARKERS
Think about how a landscape painter has to squint to visualize the overall scene. In a similar analogy, try to “squint” to see which direction your business is heading. Find key points along that path to stay on track. For example, in the software business, a crucial milestone is launching a new version, system, or product. A shoe store might choose to launch a new product or appear on Google's website as a sports shoe store, not just a regular shoe store. A graphic design company might be looking for online design work rather than print contracts, so their milestone could be having a social media profile, controlling their designs so that the product runs smoothly on both mobile phones and computers. Or they might build their brand on social media. Each of the above examples not only showcases achievements but also demonstrates the direction the company is heading.
There are times when milestones that seem quite general can become strategic at a specific point in time. For example, a shoe store selling $100.000 worth of goods in a month might require a business restructuring, or a graphic design company needing to create mobile-friendly websites might need to use a different software platform. These special cases are quite common, especially for business owners, and you need to consider them to develop a long-term strategy.
2. CREATE TRACEABLE MILESTONES
An ideal milestone is one that you can easily communicate to the team, while also being easy to understand and track. A goal should be clear and unquestionable in terms of how and whether you can achieve it. For example, a shoe store might choose to build relationships with top suppliers as a milestone, which can be considered easily measurable. Or in the case of a design company, securing the first contract to create a product for mobile phones or social media is also a relatively clear and measurable goal. Returning to the shoe store example, selling shoes to an entire university athletic team could also be considered a measurable milestone. Experiment with milestones by asking whether we can achieve them.
Setting vague and superficial goals like achieving great design or becoming the best salesperson isn't ideal, as it's often difficult to measure and lacks specificity. When something feels too vague but is important to your business, find a way to replace it. In the software service industry, find ways to quantify and deliver excellent customer service by measuring how many people are using the software, for how long, and when they download new software. A shoe store might aspire to be the best, but they need to measure things specifically, for example, by considering customer feedback. A graphic design company should track how many people accept their designs and how many people make a purchase based on their work.
3. HOW WILL THIS HELP YOUR BUSINESS PROGRESS?
One thing I've noticed repeatedly over the years in managing my business is that a big goal always needs clear and manageable milestones. People work better if they focus on short-term goals, rather than clinging to a distant dream. I've also realized that people appreciate the feeling of being able to measure their progress fairly, and they can track their milestones without needing a manager or supervisor.
When you reach a milestone, remember to celebrate it. Make it a fun experience, do something a little quirky, or throw a big party and invite your whole team. Those who have worked alongside you deserve to be rewarded for achieving something. This celebration also marks the beginning of a new journey towards conquering a new goal.
Register as a member to receive priority access to the latest guides on accounting, taxation, business management, and work skills…www.expertis.vn
For further information, please see the other services offered by EXPERTIS.
