It’s that time in the new year when we set resolutions for ourselves. In business, we set goals to track our successes (or lack thereof). This allows a business to do more of what works and less of what doesn’t. Just because your business is profitable, doesn’t mean there isn’t room for improvement.
Side Note: Almost no one is doing 5-year strategic plans anymore. Business moves too fast today. Prepare a 12-18 month plan with a 36-month max.
When setting goals, never start with tactics (the fun stuff). Instead, use these 3 concepts for setting the proper goals.
Once you have taken these three steps, the strategy and tactics will be obvious. Now, divide up your set budget based on impact, priority, etc. then execute!
Bonus question: On a personal note, what’s your New Years Resolution?
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