7 Steps To Follow For Business Success In 2018
It’s a new year and time to reflect on all that you want to accomplish in the next twelve months. Changes, accomplishments, new ventures. Creating the next chapter in your company’s history.
Now we all know that most people fail at achieving their New Year’s resolutions. However, businesses should not set themselves up to fail, especially if there is much to be done to grow the business. Perhaps you should consider these business growth agenda items for the new year:
1. Define your starting point.
Look back at what you and your company have accomplished in the last year and set it as your baseline. Spend some time with your team to reflect on your past accomplishments. From top to bottom, list the good, the bad and the ugly. This will help you see what needs to get addressed in the year, whether it is overall revenue growth, employee performance, accuracy or something general that will benefit the company overall. This will make it easier at the end of the year to define what has or has not been accomplished.
2. Reflect on the company’s mission.
Have you interpreted your company focus into a concept that your employees can understand, appreciate and rally around? If the answer is no, then this is a great first week project. Once completed, you have a statement that all can buy into be proud of working to achieve.
3. Group reflection.
You should not be the only one participating in this reflection. Your employees should also spend some time reviewing what they have achieved and not achieved in the past year. Each of your employees wants a feeling of accomplishment. Having them participate in this process will empower them. It will also provide you with some additional thoughts how to help them grow as well. Fulfilled employees are far more productive because they are more aligned, capable and engaged with the organization. Unfulfilled employees either leave or stay in a way that affects others.
4. Set goals that are realistic and can push your staff.
You should create realistic targets that you are fairly confident that you can reach but also include smaller milestones that will allow you to celebrate accomplishments throughout the year. The stretch targets will be more challenging, however they will generate a greater fulfillment for your staff.
5. Measurements are key.
Specific and measureable goals are the most motivating and likely to be accomplished. Nearly everything at work, even softer things like employee engagement or customer loyalty, can be measured. If it’s worth doing, it’s worth measuring.
6. Develop a strong feedback system.
Performance feedback is critical in enabling people to make course corrections in pursuit of goals. Timely, frequent feedback from our supervisors will provide a momentum boost to reach those resolutions.
7. Accountability is a priority.
It is extremely helpful to have rewards tied to the accomplishment of goals. Stretch goals should be rewarded handsomely. Rewards are the last element that will provide the finishing touches to keep your resolutions on track.
Now is the time to set these goals and get a running start. If you innovate and take new approaches, you’ll set yourself up for success next year.