As we approach the end of the year, small business owners are turning their attention to goal setting for the upcoming year. Christopher Nicolaysen, CEO of Springs Law Group, recently shared valuable insights on effective goal setting strategies that can help businesses thrive.
Product Goals vs. Process Goals
Christopher emphasizes the importance of distinguishing between two types of goals:
- Product Goals: These are the big-picture objectives for your business. For example, Christopher’s firm aims to be profitable. Your product goal could be increasing revenue by a specific percentage or expanding your client base.
- Process Goals: These are the daily, actionable steps that lead to achieving your product goal. Christopher recommends setting 1-3 process goals each day.
Setting Effective Goals
When establishing your product goal, consider the following:
- Make it fluid enough to accommodate changes
- Involve your leadership team or trusted partners in goal-setting discussions
- For some goals, using the SMART (Specific, Measurable, Achievable, Relevant, Time-bound) format may be beneficial
Implementing Goals Throughout Your Organization
To make sure everyone in a company works towards the same goals, it’s important to have a clear plan and to lead by example. As a business owner, you’re like the CEO of a company. If you want your team to perform well, you need to demonstrate the behaviors and work ethic you expect from them. This means that as a leader, you should be the one who sets a good example for others to follow.
Next, it’s helpful to set aside some special time for everyone to come together and talk about their goals. This shouldn’t be a quick chat; it should be a longer meeting, maybe about an hour, where everyone can share their ideas and plans. Think of it like planning a major product launch or a new marketing campaign. You wouldn’t just say, “Let’s launch a new product!” and then leave it at that. You would sit down with your team and discuss all the steps needed to make it successful.
Once everyone has shared their big goals, it’s time to break those down into smaller, daily goals. Each team member should think of one to three little things they can do every day that will help them reach the bigger goal. For example, if the big goal is to increase sales by 20%, a daily goal could be making five customer follow-up calls each day. It’s important that these daily goals are realistic—this means they should be things that can actually be done without being too hard or overwhelming.
By helping team members identify these small steps, everyone can feel like they are contributing to the big picture. When everyone knows what they need to do each day, it helps keep the team focused and moving in the right direction toward success. This approach ensures that daily activities align with the company’s overall objectives, leading to more efficient progress towards your business goals
Maintaining Accountability
Christopher recommends:
- Weekly 15-minute check-ins with team members
- Having team members report on:
- Three “done wells” from the previous week
- Progress on process goals (rated on a 1-10 scale)
- One area for improvement in the coming week
Key takeaways: GOal-setting for small businesses in 2025
As we wrap up our discussion on goal-setting for small businesses, let’s recap the essential strategies that can propel your company towards success in the coming year.
First and foremost, it’s crucial to distinguish between big-picture product goals and daily process goals. Product goals are your overarching objectives, while process goals are the small, actionable steps you take each day to achieve them. This distinction helps maintain focus on both long-term vision and short-term progress.
Involving your team in the goal-setting process is another vital aspect. By including your employees in these discussions, you foster a sense of ownership and commitment to the company’s objectives. This collaborative approach often leads to more innovative ideas and stronger buy-in from your team.
Remember to be realistic and consistent with your process goals. Setting achievable daily targets helps maintain motivation and prevents burnout. Consistency in pursuing these goals is key to seeing tangible results over time.
Implementing regular check-ins is essential for maintaining accountability. These brief, structured meetings allow you to track progress, address challenges, and celebrate successes along the way.
Lastly, focus on intentionality and strategic thinking in daily tasks. Encourage your team to approach their work with purpose, always keeping the larger goals in mind. This mindset shift can transform routine activities into meaningful steps towards your business objectives.
By following these goal-setting strategies, small businesses can stay focused, motivated, and on track for success in the coming year.
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