Are You a Goal-Setter or a Daydreamer?
When we meet with a potential client, our early conversations quickly turn into discussions of goals. Prospective clients often confuse their goals with dreams, speaking in broad terms about things they want to happen. But, they don’t know how to achieve them.
Think about your own business goals for a moment. Do they sound like this?
- “We want to grow.”
- “We want people to know how good we are.”
- “We want to make more money.”
If any of these sound familiar, then this blog is just for you! We’ll discuss how to turn your dreams into a reality by setting real goals for your business.
An Important Distinction
The difference between having goals and having dreams is simple. Goals are measurable and trackable. Dreams aren’t. Goals produce a result; dreams don’t. One requires work; the other only needs your imagination.
Goals have a structure with underlying objectives, tasks and strategies. They can be enacted in the real world where they can be measured and adjusted if necessary.
Turning Dreams into Reality
Let’s take a look at the list we created earlier. How do you turn these vague dreams into real goals? We like to use the SMART assessment, which is an acronym for Specific, Measurable, Achievable goals with a Realistic Timeline.
- We want to grow. Think about this phrase using the SMART acronym. How can we turn this dream into a goal?
We want to grow our annual revenue 15 percent by the end of the next fiscal year. Now, we’ve attached a timeline and an achievable, specific amount that can be measured.
- We want people to know how good we are. We can do this by aiming for at least 10 percent of our business to be referred customers within the next two years.
- We want to make more money by setting aside 10 percent of our annual budget to invest in strategic marketing and decreasing customer service support response times. That way, we bring in new business while nurturing the customers we already have. This attaches real dollar amounts with measurable strategies.
Be a Visionary
These goals all involve the investment of time and money into your business. Dreams won’t take your business to the next level, but goal-setting will. Having a vision for your company and dreaming about the future are two different things. So, do you have a vision?