Last Updated: Mar 24, 2017
Want your business to succeed? first step is to decide what your business are and work from re. Here’s why are so important.

Business leaders of all stripes like to talk about and strategies. But re’s more to than simply throwing a few buzzwords around. It helps to know what y mean and how y play off of each or to lead to final result.

Real Definition of ‘Goal’

are typically understood to mean a desired end result, but y’re actually more than that. A true goal is one with a deadline. Here are two examples of positive-minded one might encounter in a business plan:

 

You should notice that se two attempts at writing a goal are similar but not identical. In first case, writer failed to give goal a deadline. This is a crucial fure of a goal. If you don’t set a deadline, n all you have is a wish. Give it a deadline and your wish turns into a goal.

second goal has anor thing going for it that first one doesn’t have. It’s a bit more specific. Instead of ambiguously striving to be “leader”, this company wants to be leader in sales revenue. So when you write out your company , make sure you give m a deadline, and make m specific enough that you can measure m.

What Constitutes a Business Strategy?

A business strategy is path you take to achieve your goal.

So you want to spend next five years making yourself best-selling robotic Valentine gifts company. But how will you do that, exactly? However you decide to pursue that goal, that’s your strategy.

Perhaps you’ve decided best way to sell your robotic Valentine gifts is to demonstrate ir ability to woo a love interest. So your strategy might say something along lines of “persuade consumers that Company X’s line of robotic Valentine gifts is romantic, easily programmable, and fully autonomous”.

That’s an awesome strategy, but that alone won’t get you from Point A to Point B. You need some objectives.  

RELATED: Time Management, Goal-Setting and Productivity Templates

What’s Your Objective, Hal?

Objectives are mini-. y are smaller, vital steps to reaching your ultimate goal along path of your stated business strategy. In or words, to determine what your business objectives are, you must commit your company to your strategy. A full commitment will focus on objectives.

Looking at above-stated strategy, what kind of objectives could Company X use to follow stated path? Here are three potential objectives:

See how each of those objectives have deadlines and are specific and measurable? This is so you can benchmark your way to as you measure each objective on your path to strategic . But each objective must be pursued through ful implementon of .

RELATED: Lost Sight of Your Goals? Give Yourself a Business Owner Check-Up

In Stanley Kubrick’s Space Odyssey 2001, HAL 9000, artificial intelligence computer aboard Discovery 1 spaceship, goes haywire and wreaks havoc on spaceship’s crew when he malfunctions. Perhaps Hal would not have acted so errcally if he had defined his objectives a bit more clearly.

Let Your Push You Toward Your Goal

key to fully achieving your goal is to follow strategic path you’ve outlined by striving for well-defined objectives that you work toward through tactical operons. In or words, you reach your objectives by focusing on implementing your . So define what those are based on what makes sense for each objective.

For instance, to increase customer retention by 60% by end of this year you can increase your inbound call center response rate by implementing a new call routing system. Perhaps you might also decide to embark on a new social media initive where you utilize Twitter as a customer service designed to shorten your customer response rate. re are two that are relvely easy to achieve and are defined well enough that you can measure ir post-implementon.

RELATED: The Ten Commandments of Goal Setting

Conclusion

Ultimately, your company’s depends on how well you execute your , but if those aren’t written with your objectives in mind, n you’ll go off course. Your objectives, of course, are defined by your strategy, which is determined by your goal. If you backward plan your , you are more likely to achieve it. Look at your end goal first and n decide how you’ll get re.

© 2015 Attard s, Inc. All Rights Reserved. May not be reproduced, reprinted or redistributed without written permission from Attard s, Inc.

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