A ship without a rudder is at the mercy of the winds that drive it. Likewise, a business without clearly defined goals is at the mercy of the financial world.
As a small business owner, it’s likely that you have big dreams. You want to make millions, gain market share, sell that app, retire early, or revolutionise your industry. No matter what it is, you’re not going to get there unless you have a very clear game plan. Even if you know exactly where you want to end up, you’re going to need to know what to do to get there. Setting goals can help you do just that.
Clear goals connected to a financial plan, spelling out the following: sales targets, key drivers of value, where money is going to be invested, how you will fund the growth, what the organisation needs to look like and what the key risks are.
“Strategy without execution is hallucination” – Thomas Edison.
Once the strategic plan is complete it needs to cascade downwards and be operationalised so that your team can execute it.
Employees will be motivated to work together to reach your business goals when they share the same vision.
Help your employees see your vision by giving them clear steps to follow to get there with you. You may even consider making an action plan and hanging it on the wall. If everyone has a clearly defined set of objectives, they will all be on the same page and be motivated to achieve the goals with you.Help your employees to see how their daily tasks fit into the bigger picture. It can be easy for employees to get bogged down with their daily tasks. But, if they see how their seemingly mundane tasks are helping drive the business to success they will feel more motivated and you will too!
Whatever your financial or business goals may be, it’s nice to have someone there to help you along the way. That’s where CFOs on Demand can come into play. Our virtual CFOs would love to be the catalyst behind your businesses success. If you feel that you need a little help reaching your goals, or if you just want to talk over your plan with someone, we would love to know about your business goals. Fill out the contact us form or give us a call today. We look forward to hearing from you!