The benefits of setting goals
The benefits of setting business goals
Setting a goal gives us a target to aim for; it gives us something to focus on and helps to keep us motivated; a natural by-product is enhanced performance. And the benefits don’t just appear when you meet the goal. There’s plenty of evidence to suggest that just by setting one in the first place you have a higher chance of being successful, whether you meet the challenge you set yourself or not – and in my view, that’s because in thinking about what’s required for a target, you’re already putting yourself ahead of people who don’t.
If that’s the case, then there’s a great reason to start thinking not only about goal setting right away, but about how you can get even better outcomes from the targets you put in place.
Science also tells us that you can increase your chances of success even further by writing down the goal and sharing it with others.
Setting business goals also gives you the opportunity to celebrate ‘wins’, rather than focusing on - and beating yourself up for - the things that you haven’t done. Of course a little self-reflection and criticism is perfectly healthy; you’d never drive your car by relying on the rear-view mirror, but you do need to check occasionally to make sure everything’s okay!
Ultimately, positivity is key – set challenges, identify goals and then use these to propel yourself forwards.
But all that being said, how do you ensure that you don’t box yourself into a corner with your goal setting? According to the ‘theory of constraints’ goal-setting is by nature self-limiting. Once you’ve set a goal, your subconscious accepts that as the limit of the challenge, so you tend to simply aim for that and are unlikely to exceed it or often even achieve it.
The solution to avoiding such constraints is to set yourself BHAGs – Big Hairy Audacious Goals: the idea being that you ‘aim for the stars’ with a target that may feel or sound a little ridiculous because of its ambition. It may sound a bit odd, but it’s a great way to maximise their benefits. While these extreme challenges may not be achievable in their entirety, by setting your sights high you won’t hit a ceiling you’ve unconsciously created for yourself by aiming too low.
Benefits in brief
Apart from helping you to focus on success, setting goals offers lots of benefits to you and your business, such as:
Provides clear direction
Provides clarity when making decisions
Puts you in control of your future
Gives you a sense of purpose and self-satisfaction
Encourages you to step out of your comfort zone and discover new skills
It’s clear that setting goals provides lots of opportunities for building on your current success, so if you’re not already doing this as part of your business development, then maybe it’s time to start! If you feel you need some help to set the right targets for your business, it may be worth attending a training course http://mellorfinancialmanagement.com/financial-training to help you develop the skills you need to keep pushing your business forward.
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