How are your business goals looking right now? Are you on track versus your business plan (if you have one)? Are you firefighting day in day out without moving your business forward?
You’re not alone. It is not uncommon for business owners to set out with an ambitious vision for what they want to achieve in the next year, three or even five, only to start sinking - not because their goals were unrealistic, but because they lack a strategy and smart plan to get them there.
It’s well known that without a step-by-step plan, your ambitious long-term goals will remain just a dream. Yet year-long business goals can easily make you and your employees feel both confused and overwhelmed at the same time.
The solution? Three-month (90-day) goals.
Why 90-Day Goals Are Key to Your Business’s Success.
By narrowing your focus to 90 days, you can break down goals and turn them into manageable plans of action. This is why the most successful entrepreneurs plan their businesses 90-days at a time, and how you can turn your company around by following the same formula.
Your business becomes more adaptable.
The biggest problem with one-year goals is the time-frame. A lot can happen in twelve months; goals can become irrelevant, or procrastination sets in because there’s always tomorrow.
By planning your business in 90-day blocks, you create an environment of accountability while still leaving room to adapt to market trends and change course as needed.
Also, if a goal does not work out, it is easier to go back to the drawing board and realign for the next 90 days, rather than waiting a whole year before hitting the reset button. This makes your business far more efficient.
You learn to prioritise what matters.
When trying to achieve a goal, there will always be a list of things to accomplish. However, not all of them need to be done today, this week, or even in the next 90-days.
By learning to identify which tasks will directly help you achieve your three-month goals, you will be able to say no to time-wasting and clear up your to do list for the areas that truly matter. This will in turn free up your time (and you will be more in control) and your employees and business will become more focused and productive.
You improve communication and teamwork.
Do your employees understand the company’s goals? Are they on-board with where your business is going? Are they helping work towards the overall plan?
Having a team that is aligned to your goals fundamental to great planning execution. One of the biggest benefits of 90-day goals is that they are small enough for everyone in the company to understand and for the team to work towards achieving collectively.
When your team knows what it is they are working towards, they can focus better and prioritise their tasks. This will result in your business breaking the cycle of broken resolutions and start achieving its goals and plans.
How to set 90-day business goals.
1. Choose three core goals.
For your first 90-day roadmap, choose three goals that you want your business to focus on for the next quarter.
Make sure these goals are SMART:
It is also essential to write them down. Perhaps even post them on the office wall. There are many studies that show people who write down their goals accomplish significantly more than those who do not.
Don’t be afraid to be ambitious; just remember you only have 90-days to turn your goals into reality.
2. Involve your team.
Once you have your goals, involve your team. Ask them how they feel about focusing on these for the next three months, whether they believe 90 days is a manageable time-frame, and encourage them to feel how it how it would be to achieve these goals.
This very simple exercise is a superb way to gain feedback, create accountability, and ensure you are all focusing on great goals that you are committed to achieving.
3. Break each goal down into actionable items.
The final step is to list out your goals and turn them into actionable elements. Each person or team should take a look at the three goals and identify the actions that would need to be completed each day, week and month.
Once these goals are set, each person should do the same with their own individual task list. When the goals are broken down into specific tasks, it becomes clear what needs doing, and it creates small measurable steps that are easily tracked and adjusted accordingly.
By dividing your one-year plan into quarters in this way is a sure fire way to clarify what needs to be done and by when and the result will be you will be in far more control of your business. You will be running your business, the business will not be running you. This is often known as works ‘on’ not ‘in’ your business. The results of this will become clear within the first 90-days of starting this;
1. You will have more time to either strategically plan your business or spend time with your family.
2. Your business will grow or grow faster.
3. Your team will perform better and be happier as they will have focus and direction.
If you would like to discuss your business planning and growth needs please contact me here. ProfitPlus are experts in helping you create business plans. We offer unique services that combine creating a business plan coupled with business coaching programmes such as our 90-day PlanningCLUB’s, find the profit and cash flow sessions. We also provide interactive planning and business tools to help you through your business planning process simply and effectively. Our two-day planning workshops result in an outstanding 5-year business plan, created in just two days, to help you develop and plan your business for success, giving you higher profits, more time away from the business, greater cash flow and increased value.