Newsletter
March 2023 Newsletter
Goal Setting for your Small Business in 2023
Are you ready to revaluate your small business as you set new goals for 2023? When it comes to creating a foolproof strategy for your team, it’s important to identify and focus on the key components that make your business what it is today. Then you can proceed to outline where you want your business to go and set key milestones for how to get there.
Here are just some ways you can identify what you are currently doing well and what you would like to improve this year to make it your strongest yet.
Identify what works
As part of your small business, there will be key areas that work well. For example, the services you provide may be your strength. If you have areas of your business that shine, acknowledge this and look into why this works so well. Whether it comes down to communication, processes and systems, or a particular staff member who manages this well, identify this and customise this approach to replicate it across other areas of the business. Other areas of the business could include project management or customer service for example.
Identify your persona
In small business, reputation and word of mouth are everything. Identifying how you want to be perceived in your niche is essential. Once you have established this you can customise the way you present yourself online, in person and amongst your competitors – with a targeted and more impactful approach.
There’s a saying that you can’t be the best at what you do and the cheapest at the same time. So, ask yourself, is your company the best at what they do? The friendliest and easiest to work with? Or the best value for money? What aligns with your brand and how you do business – remembering you can’t be everything at once? Once you have established your core strength, the persona of your business and the audience that you target will become clearer.
Set achievable KPI’s for staff
When you sit down with your team to discuss where you want to be, ask for their input on what goals they would like to achieve in their role and allow ownership over this. Setting KPI’s for staff members is not only motivating it will also allow you to see where they could be improving as well as where they are excelling in their role. If there are gaps for staff in meeting their KPI’s, consider upskilling your staff to ensure they are equipped to manage these tasks with confidence.
Small business success relies on a collaborative approach. Include your staff in identifying and setting measurable goals for them within their role as well as the business as a whole.
Set business goals backed by financial advice
In terms of business goals, if you are looking to expand your staff, increase your sales, or step away from the business allowing it to run autonomously, you can always seek help from your small business accountant. They will be able to tell you where you need to be financially in order to make these changes within your business.
Small business advisory services will provide you with clear measurable goals and numbers-based targets to ensure you have a clear plan on how to get your business to where you want it to be.