Five Ways of Keeping Your New Year Goals

Well 2015 is underway and with a New Year, a business always needs new strategies to boost work. It is not easy to be consistent with New Year resolutions even on personal level, but there are ways of keeping the momentum which include the following:

  1. Make SMART goals (Specific, Measurable, Attainable, Result focused and Time bound): Being specific is important for the goal to be understood by all involved in the process. Making sure the goal is measurable enables one to quantify success. The goals needs to be attainable as pushing for elaborate goals renders the process of running the business strenuous and the team may be defeated before the end of the year. Results ensure a less politicised situation does occur. Making the goal time bound brings in a sense of urgency needed to achieve the goal in due time. The SMART analogy helps to guide the business achieve goals in a precise manner.
  2. Establish a reward system: Putting in place a reward system for the business can help foresee better results. One example is sales teams who were given targets can be rewarded once quarterly mark-ups have been achieved. Tom runs a company that sells computer software, last year was the first time he put in place a reward system for his sales team. The first quarter few had achieved their targets but as time rolled on the numbers of sales persons who reached their goals grew considerably.  Tom was able to use the reward system to achieve the desired results.
  3. Review the goals: the strategy accomplishing the goal can evolve due to change in the economic status of the country or how the market responds to a product or service. The product you provide could become obsolete due to newer and faster equipment or technology. By having review meetings the team can take stock of the changes taking place and anticipate any need to adjust tactics.
  4. Envision the success: If you can see it, you can achieve it is a motto that helps business in achieving success. Mary who sells cakes had a motto of selling a hundred cakes a day by end of 2014. She did not only achieve it she even surpassed by fifty cakes.  There are many success stories where the entrepreneur saw and stated her vision from the beginning and was able to accomplish it through resilience and determination.  The best way to envision success is to state it. Some entrepreneurs prefer placing a board or chart with a diagram that shows the desired end result.
  5. Acknowledge the obstacles: By accepting the difficulties one is to face ensures the team finds ways to lessen their effects. Some companies merge when it becomes evident that they need one another.  A company specialising in manufacturing paper could merge with one which specialises in making fonts. They can combine forces to cover a greater share of the industry as well as avoid negative market forces.

How do you keep focused on your New Year’s goals? Please share your method with us in the comment section below.

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Nyakio Kiruthu

 

Nyakio Kiruthu left the world of banking after 4years to venture into the world of business. She is a shareholder of Thayu Farm hotel, a family business. She holds a degree in Economics and Masters in International Business which enables her to explore the world of business through a unique perspective.

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