Management Information

Plans & Goal Setting - Kicking winning Goals


Kicking Winning Business Goals

The competition for business is hotting up. The advances in new technology, ease of communication, and increasing expectations from customers have combined to make the marketplace more competitive than ever. In this world it is critical for small and medium businesses to be proactive about creating their future. Without proactivity, things just seem to 'happen' without your control.

A management system that is centred around goals is one tool that the business can use to craft its future. This is a system of deciding what you are going to do everyday based on the goals you are working toward.

It sounds simple enough, but the research clearly shows that most businesses don't set goals - at all. The goal setting process can seem daunting if it's unfamiliar territory, or if you have so much on your mind that you don't know where to start. This process will help you to sort through your key issues and create forwards momentum by setting goals that are innovative, resolve problems and improve results.

A goal-centred management system has 3 elements:
1. The goal or the objective you want to achieve
2. The activities required to achieve the goals, and
3. The review or evaluation process.

Here are the 5 steps required to put your goal management system in place.

1. Identify your Goals
Start by asking yourself these three questions. If you have employees, often they have a different view about issues in the business. Including them in this process can be really valuable.

  • What are the three things that irritate me the most about my business right now?
  • What have I been putting off, that I know will have a positive impact on my business?
  • What is working pretty well, but could be improved?
  • It might help you to think in terms of some common categories such as:

    Employees: skill levels, right people in right jobs
    Managers: management style, experience
    Customers: strength of customer base, number, loyalty etc
    Financial: cash flow, capital, low debt, profit margins etc
    Reputation: well-known brand, well regarded
    Products/Services: innovative, short time to market, no competition, price
    Environment: flexible work practices, physical working environment, location
    Technology: automated, streamlined, productive
    Production: capacity, product range
    Distribution: low cost, efficient
    Sales/Marketing: promotion strategy, marketing materials etc

    2. Write down what you want to achieve for each identified goal
    With your answers to the questions, actually write down how each thing would look at it's most successful. Goals should be in writing, in measurable terms and have specific timelines.

    For example, if you had chosen technology, your goal might be "to implement an integrated and automated contact management system by April 30th that takes away most of the manual work I do now."

    3. Break goals into measurable steps
    For each goal that you've articulated, break it down into the steps you need to do. You must include timeframes for each step.

    In our example, the steps might be:

    • Researching available contact management systems - by 31 Jan
    • Analyse each one along cost, technology implications, ease of learning - by 29 Feb
    • Decide and purchase - March
    • Implement system - April 5th
    • Test and undergo training - by 30 April

    Ensure that all the people who are impacted by a goal fully participate in the crafting of the goal and the action plans.

    4. Allocate people to do the actions
    Be clear about who is responsible for what activity. Make sure everyone understands their responsibilities and signs up to achieving them.

    5. Create a fail-safe tracking method to monitor success
    This is absolutely essential. Without it, the business will simply continue to react rather than choose it's own direction. There are many different ways of monitoring. A simple method is to come together once per week and check where each current activity is at. You also get the opportunity to remove obstacles and plan any additional activity. If you work solo, schedule time in your diary each week to track your progress.

    This process of constant review and resetting action steps based on actual progress is the hallmark of having a goal centred management system. A simple goal setting process leaves out this vital step.

    So make the time and set your business up for success. Invest a few hours each week in careful planning and consideration, and see your business reach it's true potential.

    Megan Tough, Director of Action Plus, is passionate about helping people enjoy their businesses. She works internationally with business owners to systematically remove the stress points from their business, giving them more time and space for - well -whatever they want! Visit her at http://www.megantough.com for more information on taking the stress out of your business.


    MORE RESOURCES:

    USA Today

    Retirement Ranch Planned for Wild Horses
    Washington Post, United States - 10 hours ago
    Officials with the Bureau of Land Management revealed this week that Pickens had come to them with a plan to relieve a growing agency headache -- the care ...
    Tycoon’s Wife to Buy Land as a Refuge for Wild Horses New York Times
    Pickens' wife proposes way to save wild horses The Associated Press
    Breeder Offers to Establish Wild Horse Preserve TheHorse.com
    AZ Central.com - Salt Lake Tribune
    all 558 news articles


    New York Times

    Source: Orszag tapped for Office of Management and Budget
    CNN - 11 hours ago
    ... picked Peter Orszag, the head of the Congressional Budget Office, to head his Office of Management and Budget, a top Democratic source told CNN Tuesday. ...
    Obama Is Said to Have Chosen a Budget Director New York Times
    Obama Wants Orszag At OMB Atlantic Online
    Peter Orszag on OMB Short List Washington Post Blogs
    The Associated Press - Federal Times
    all 158 news articles


    Marathon Asset Management LLP's holdings in Metso increased to ...
    MarketWatch - 46 minutes ago
    Metso Corporation has today been informed about a change in the holding of the assets managed by Marathon Asset Management LLP of the paid up share capital ...


    Sterling Commerce Cited as a Leader in Order Management Hubs by ...
    CNNMoney.com - 34 minutes ago
    Forrester evaluated the strengths and weaknesses of eight leading order management solutions in a 152-criteria evaluation. The report stated, "Of all the ...


    Guardian Management LLC Signs Agreement to Acquire Atherton ...
    MarketWatch - 33 minutes ago
    The creditors committee, chaired by Steve Trax, principal of MTX Wealth Management LLC of Bethesda, MD, consisted primarily of ANI's noteholders who had ...
    Feldman's End Game Wall Street Journal Blogs
    all 3 news articles


    Financial Management Association of New Hampshire Shares ...
    MarketWatch - 1 hour ago
    MANCHESTER, NH, Nov 19, 2008 (BUSINESS WIRE) -- The Financial Management Association of New Hampshire (FMA of NH) today announced that it hosted financial ...
    U.'s finance department again top-ranked in the world Salt Lake Tribune
    all 6 news articles


    AIRCOM and ZTE Complete Network Management Interoperability Tests
    MarketWatch - 12 hours ago
    Compatibility between the two network management tools will enable some 500 operators within ZTE's commercial partnerships to monitor network performance ...
    AIRCOM Provides Planning and Optimisation Managed Services to ... MarketWatch
    all 23 news articles


    Idera Supports PowerShell for SQL Server Management
    MarketWatch - 1 hour ago
    "PowerShell is invaluable for automating management tasks and these new scripts equip administrators with more options for managing and administering their ...
    Idera Announces New Version of Leading SQL Server Performance Monitor MarketWatch
    all 11 news articles


    Reuters

    Pershing Square Capital Management Announces Teleconference and ...
    MarketWatch - 19 hours ago
    Pershing Square Capital Management, LP, based in New York City, is a SEC registered investment advisor to private investment funds. ...
    Pershing's revised Target proposal out Wednesday Reuters
    Investor Ackman to Revise Plans for Target's Land (Update2) Bloomberg
    Hedge Fund Tracking: Ackman's Pershing Square, Q3 2008 Seeking Alpha
    Bloomberg
    all 30 news articles


    CBS News

    INSIDE WASHINGTON: Bush picks get new careers
    The Associated Press - 14 hours ago
    Since March 17, according to data from the Office of Personnel Management, the Bush administration has filled 20 career jobs at numerous agencies with ...
    Also in the news: Bush converts appointees to career status FCW.com
    Bushies Burrowing Into Career Posts At Interior, Other Departments TPMMuckraker
    Senators urge end to 'burrowing' practice Times of the Internet
    New West - USA Today
    all 71 news articles

    Management - Google News

    home | site map
    © 2006