Setting goals is only a annual event. Management comes up with a list of objectives they want to see the company achieve in the next year, and then employees are given a chance to weigh in on what’s realistic and what’s not.
But many times, these goals are not actually met. While intentions are good, realities often get in the way – whether unexpected challenges arise or a goal that simply wasn’t realistic to begin with.
So if your team finds itself on the failing end of meeting company goals, it may be time to upgrade your goal-setting system.
Here are five tips to help you set and achieve more realistic goals for your business:
1. Define what success looks like
Many times, goals are not specific enough.
What does “increase sales” actually mean? By how much? In what timeframe?
Without a clear definition of success, it’s impossible to know if you’re actually achieving your goal.
Instead, be as specific as possible when setting goals. If your goal is to “increase sales,” define exactly how much you want to increase them by and over what timeframe. This will give you a clear target to aim for and make it easier to measure progress along the way.
Success needs to be specific and measurable – so don’t be afraid to get granular in your goal setting.
2. Set realistic KPIs
Key performance indicators (KPIs) are an essential part of any goal-setting system. They help you track progress and identify areas of improvement. But if your KPIs are unrealistic, it can set your team up for failure.
Make sure your KPIs are achievable by considering things like current performance levels, available resources, and past successes (or failures).
It’s also important to ensure that KPIs are aligned with your overall business goals-otherwise, you run the risk of losing sight of what’s essential.
For example, let’s say your goal is to increase sales by 10% in the next quarter. A realistic KPI could be to increase the number of sales appointments set each week by 2%.
This gives you a clear target to work towards and helps ensure that your efforts are focused in the right area. Plus, if you hit your KPI, you know you’re on track to reach your goal.
3. Make sure goals are aligned
Another common goal-setting mistake is failing to align goals with the company’s overall strategy. If a goal doesn’t support the company’s overarching objectives, it’s likely not worth pursuing.
Instead, make sure all goals are aligned with the company’s strategy. This will help ensure that everyone is working towards the same objectives and that resources are being used in the most effective way possible.
Similarly, ensure that any KPIs are relevant to the goal at hand.
For example, if your goal is to increase sales, then a relevant KPI could be the number of sales appointments set each week. But if your goal is to reduce customer churn, then a different KPI would be more appropriate-like customer satisfaction scores.
4. Utilize goal-setting software that takes advantage of data
There are now many different software applications available to help teams set and track goals. These tools can be extremely helpful in keeping everyone on track and ensuring that progress is being made.
Business intelligence suites allow you to quickly capture data and generate reports on goal progress. This can be extremely helpful in identifying areas of improvement and making adjustments to your goals as needed.
For example, using a goal-setting system such as On Pace allows you to quickly create real-time, data-driven reports. This way, you and your team members can track progress and see exactly where you need to make changes.
5. Encourage achievement via real-time dashboards
One of the best ways to keep employees engaged and motivated is to provide regular updates on goal progress. Users can do this via email, intranet, or even physical dashboards displayed in common areas.
Seeing their progress (or lack thereof) will help employees stay focused and on track. Additionally, it can help identify any roadblocks preventing the team from achieving its goals.
How onPace Revolutionizes Goal Setting
If you’re looking for a better way to set and achieve goals, consider using the On Pace goal-setting system. With this tool, you can quickly and easily create goals that are specific, realistic, and aligned with your company’s overall strategy.
On Pace integrates with your collected data to quickly identify opportunities and help you set goals that will have the most significant impact. It also provides ongoing tracking and reporting to ensure that progress is being made.
Additionally, On Pace makes it easy to share goal progress with app dashboards that users can monitor via an app on nearly any device. This means that everyone in the organization can stay up-to-date on goal progress and identify any areas of concern.
From CRM Analytics to Customizable Sales KPIs, On Pace is the goal-setting system your company needs to take it to the next level. Schedule a demo today to see how On Pace can help you achieve your goals!