July 28

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Performance: Business Goals Review

Cowboy lassoing while riding a horse.
A cowboy’s Business Goals Review looks very different than most of ours.

Performance: Business Goals Review

Are your goals outdated, delusional, or relevant?
Do your goals aligned with what is required to succeed?
Are your Business Goals simplified?

Performance assessments are necessary for each aspect of a business. Is your business performing at the levels required to succeed? If not, perhaps your current goals aren’t in alignment with what needs to be measured. Conduct a Business Goals Review to assure your business is moving in the best direction.

Business Goals Review: Do you have outdated, delusional, or relevant goals?

Most Business Goals, even when they were activated, are appropriate at a particular point and time. Review yours now. Are your circumstances different now? Are your Business Goals, which dictate and guide performance, outdated? Sometimes, when circumstances change, we forget to change our goals that actually support success. Even though this is a common occurrence it doesn’t make it a best practice.

As you review your goals, do they address what is most important for you to achieve the profit you seek on December 31st?

Are your Business Goals realistic? Have your Business Goals become delusional? Delusional goals occur when we are in denial of reality. Your SWOT (Strength, Weakness, Opportunity, Threat) Analysis reveals situations that have altered your marketplace (external environment) and your business (internal environment).

Are you working from an old game plan? Perhaps you’re still hoping for different results while experiencing new weaknesses and threats? This approach swiftly diminishes performance.

Often, I see a business’s goals still reflecting the old wishes of the Business Leaders. The Business Leaders haven’t taken the time to address new circumstances and appropriately adjust goals. This often leads to delusional Business Goals and misperformance. It is always tied to inadequate performance.

I ask, “Are you, as a Business Leader, setting up your team to optimally perform, or are you inadvertently helping them fail?”

Business Goals Reviews Improve Performance

Micro Business Goals help guide the actions of employees through creating department goals to support the Macro Business Goals. When department goals are determined, individual performance goals are developed to support the departmental and organizational goals.

If the Business’s Goals are misaligned, most if not all of the performance metrics are misaligned.

Unknowingly, many are performing as mavericks instead of working to fulfill the true Business’s Goal! Simply stated, when Business Goals are relevant, performance occurs in a cohesive manner to support success.

Simplified Business Goals Improve Performance

A business’s greatest asset is the human asset. People are what drive a business to help it achieve its goals. The performance of your human talent creates the greatest competitive advantage in your marketplace. Funny thing about people… they like things simplified. It is much easier to tell someone that “everything you do must support X” and have them accomplish it than it is to provide long and complicated equations to fulfill goals.

Even though we are complex creatures, the more we can simplify something (uncomplexified), the more likely we are to accomplish it. With simplistic Business Goals and a simplified Business Goals Review, performance can improve.

SMART Performance Goals?

There is quite a bit of controversy regarding the effectiveness of SMART (Specific, Measurable, Attainable, Relevant, Time-Sensitive) Goals. I’d like to add perhaps the most important aspect of good goals; good goals are understandable to all parties involved. Review your business’s goals.

Are they simplistic enough that everyone can understand them? If not, you might want to consider rewriting them as SMART Goals.
NOTE: There is a particular technique for creating SMART Goals. Don’t worry if you are unfamiliar. Just make sure you address the components of the acronym to the best of your ability.

Several weeks ago we started this series for you to review your business’s performance. So far we have started looking very closely at how diversified your business is, or isn’t. We also reviewed what is your business’s vision. Then we looked at how your Business’s Mission Statement and Job Descriptions support your success.

Last week we discussed how to create an effective job description for everyone, including yourself! Play with this. It’s important to do this, but it requires you to ponder some of this too! It is a practical goal to have this all in place by the beginning of your next quarter and end the year with clarity. Determining your 20XX annual goals will be a breeze if you approach your Business Goals and conduct your Business Goals Review.

Maggie’s Curious:

Have your goals been outdated, delusional, or relevant? Sometimes mine are delusional – I simply forget I’m human 🙂 Please feel free to share in the comment section so we can learn from each other!

WE APPRECIATE YOU ALLOWING US TO HELP YOU IMPROVE YOUR BUSINESS!

Brilliant Breakthroughs, Inc. helps Small Business Owners 
Simplify Strategies & Align Actions
to further Profitability, Peace, & Potential.
Call Maggie (262) 716.7750 for YOUR No-cost Consultation

Blessings of Success to YOU ~
Maggie Mongan, CEO
Small Business Thought Leader

Brilliant Breakthroughs, Inc.
Direct Dial: 262-716-7750
LinkedIn: MaggieMongan

p.s.: Enjoy and Shine Brightly Until Next Time!

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