Setting Business Goals in 2018
- Obtainable: Set your goals high, but not so high you cannot obtain them. Set an additional “stretch” goal to push yourself but in a realistic way. Factors within and outside your business will affect you throughout the year. Don’t just set goals against your primary competition, but all discretionary spending options.
- Measureable: According to Pritch, measurement is the most important part. If you can’t quantify it via math, it’s not measurable. You have to start somewhere (X) and end the year somewhere else (+/-X). Goals need to be connected to audience and market factors such as share percentage, scope, etc.
- Specific: You can’t measure something if you don’t set a specific goal. “More Sales” is not specific, but “increase sales by X% or $X” is. The other aspect of being specific is setting a timeline and budget. What do you want to accomplish, when and how much will you spend? Only do those things that have positive ROI. You need to be profitable to survive.
Every week on the NeoMarketing podcast, The Golding Group partners Pritch Pritchard, APR and Kyle Golding briefly (5-8 mins.) discuss best practices, latest trends and modern techniques for professional business communications including advertising, marketing, digital channels, social media, public relations and alternative options. Educational, informative and (hopefully) entertaining. http://thegoldinggroup.com
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