What’s Your Goal for the Next Financial Year?

Setting business goals within organisations is common practice but not so many contractors take the time to set their own. Yet the value of doing so is massive.

The idea of setting goals is to identify the thing you want to accomplish – it could be an increase in revenue, a number of new clients or a new arm to your business. 

In doing so, you’ll be motivated to perform – which is half the battle in any plan for success. Additionally, you’ll have a start and end point against which to measure your progress throughout the year. In addition, you’ll have an idea of any skills you need to develop or investments in resources you’ll need to make along the way.

Now’s the time to start thinking about your goals for the next financial year so you can get prepared and be ready to go.

To help you along the way, here are five simple steps for successful goal setting:

  1. Make them Quantifiable 
    Define exactly what you want to achieve and ensure it’s worth your effort. Don’t just say “I want to grow my revenue” specify “I want to grow my revenue by 30% within six months” so that you can measure your progress and success. Consider any potential complications and how you would out-manoeuvre them.
  2. Make them Specific
    Make your business goals as specific as possible so you’re always clear on exactly what you’re trying to achieve and equally, you know when you’ve reached them. Attach a simple action plan that describes the steps you need to accomplish along the way.
  3. Make them Sticky
    Once you’ve set your goals and defined your action plan, stick to it without hesitation or question. Any delays will only tempt you to opt-out, and make the goals you’ve set less likely to be achieved.
  4. Make them Known
    Create a poster that clearly sets out your goals and pin it to your wall so you’re reminded of them every day. Tell your friends, family or a trusted colleague about the goals you’ve set and how you’re going to get there, then ask them to make you accountable. 
  5. Set a Deadline
    A goal without a deadline is like a fish without water – it’s just not going to survive. Be realistic with deadlines for your end goal and with each of the steps you need to take along the way… and stick to them.

Once you’ve reached your goals, take the time to celebrate your success then, take even more time to reflect on the steps you took along the way. Thinking through the challenges you overcame will provide great learnings that can be applied for your business growth.

Take the time to grow your business

Growth and success necessitate spending time on the business as well as in it.  At the Ayers Group, our contractor management services can provide the extra resources you need to manage your compliance and administration, freeing you up to focus on setting goals and achieving them. Contact an expert from the Ayers Group today – we’re here to help you succeed.