Set your Goals and Communicate Your Goals
Knowing what you want to achieve makes taking decisions, making choices and prioritizing your work so much easier. If every time you have a choice to make you ask yourself the question, will it help me achieve my goals. If not, why are you doing it?
So to successfully grow your business you need a clear vision or goals of where you want your business to be in 3 years time.
To create a vision or goals for your business you need to follow a three stage process.
- First, think of what you want to earn from the business. Because if you think about it that is why you are in business and if you have shareholders that is what they will want from the business.
- Second, look at what the business needs to earn to give you that income. All businesses need to reinvest and so you can only take out a percentage of what the business earns (net profit) as some of it must be reinvested in order to keep it up to date with what your customers will want to buy from you.
- Finally, now you know what you need to make and what your business needs to achieve in order to do that write down your goals or vision for the business and place it where it will remind you and your team of the goals or vision for the business.
The constant reminder will keep you grow your business.
The video explains:
Go to www.profitbootcamp.co.uk for more video, tips and ideas on how to grow the profits in your business.