Five goal-setting tips for 2023

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Effective goal setting will help you get the very best out of 2023 for your business. This blog article shares five goal-setting tips that will help you reach new highs and help your business thrive.

Whether you want to grow your business or take more time for yourself, these goal-setting tips can help you achieve your long-term plans.

1. Think big

What do you want from your life – and how can your business help you achieve that? Think about this coming year and beyond; what does your business look like in five or 10 years? When you know what endpoint you’re aiming for, it’s easier to set goals that move you in the right direction.

2. Choose something you can measure

Vague and brief goals are not as helpful as those you can measure and monitor. Think about what you already measure in your business and how you’d like to see those metrics change. For example:

  • A 3% increase in net profit year-on-year
  • A 2% reduction in expenses
  • 1 new client per month
  • Reduce average payment time to under 50 days
  • 4 weeks of holiday in which you don’t go into the office

3. Make a plan to achieve each goal

Once you’ve identified a few goals, come up with ways to achieve them. It could just be back-of-the-envelope thinking or having a brainstorming session with your team or your accountant. When you have a plan in place, do your best to follow through and make it happen.

4. Monitor your progress

Check in each month to see how you’re tracking with your business goals. Set reminders on your calendar, or make it part of your invoicing cycle. If you’re not quite on track, you can make tweaks or come up with some fresh ideas to help you reach your targets.

5. Plan a celebration!

Give yourself a good reason to keep striving for your goals. It might be something you’ll enjoy that’s not going to blow the budget.

Not sure what your goals should be or how to monitor and measure them? The ilumin team can advise you with our business planning service that will motivate and inspire you into action, set and prioritise long and short-term goals and address the critical issues in your business – get in touch!