Why Your Business Needs a New Year's Goal...Not a Resolution
The new year is one of the best opportunities to start fresh or make a change, and what better way to do that than setting a New Year’s resolution. However, before you start signing yourself up for Weight Watchers or hitting the gym, remember the new year can be a great opportunity to shake up your business too - not just your personal life.
Take an approach that is a little more intentional and long-lasting. Don’t set a New Year’s resolution this year. Instead, position your business for success by setting concrete goals and objectives.
January is the perfect time to set new goals for your business.
There is no better time to make a new habit than at the start of a new year, and your business is no exception. Business goals are essential to ensure your organization is trending in the right direction.
While every business should have goals, a remarkable 80% of small business owners don’t make and keep track their objectives. Goal setting is one of the best and most effective ways to know the landscape of your business and create a blueprint to get to where you want to be in the future. If you want your business to continue growing and improving, it’s time to set some goals for the year.
Resolutions and goals are not the same thing.
Don’t be fooled by how people treat them at the beginning of the year, resolutions and goals are not one-in-the-same. 40% of people set New Year’s resolutions, but only 8% of those New Year’s resolutions actually succeed. In fact, over 90% of all New Year’s resolutions fail just after January 15th. Why is that? Because resolutions are just dreams that float around in your head. Once you make the transition to make them into a reality, they become goals.
Basically, goals are more concrete and structured, while New Year’s resolutions tend to collect dust in the corner until next year rolls around.
Turning your resolution into an official goal can give you a significantly better chance of success. In fact, you are 10 times more likely to succeed if you solidify your aspirations and build a structure on how to achieve your goal.
The two key ingredients for a clear goal: achievable benchmarks and a time limit.
When you set a goal, don’t be afraid to aim high, but make sure your objective can be achieved if you put the right amount of hustle and determination into it.
After the goal is set, put achievable benchmarks in place so you can measure your success as you go along. When you do this, you are breaking your goal into manageable chunks that will keep you and your team motivated as you tackle the bigger task. Plus, these steps will give you the necessary momentum to keep you going you along the way.
Don’t forget to set a time limit. Having a goal without a timeline is useless. Putting a time limit to what you want to achieve helps breathe life and a plan into your objectives. Once you set your timing, you will find that you and your team will collaboratively seek to push harder, faster, and become more accountable to achieve what you set out to do. Write them down.
People with who commit their goals to paper are 50% more likely to achieve success than those who don’t. Writing your goals out is a powerful tool that promotes accountability and ownership. Seeing your commitments directly in front of you brings your thoughts to life and encourages a plan to be put into place to achieve them.
What is even better than writing down your goals? Sharing them with other people.
Whether that’s your team or a group of friends, saying it out loud gives you a sense of accountability to make success happen.
There is never a better time than the present to begin something that could breathe new life into your business. Setting goals is one of the most effective tools to push your organization to new heights. You never know what you will be able to achieve, but your journey can begin with a single step this January.