Importance of goal-setting for startups
- November 28, 2019
- Posted by: Admin
- Category: Grow your Business, Start-Up
Let’s address the goals of the New Year. Many people start the new year with some form of target, pledge, or plan, to grow, lose weight or save money. Sadly surveys have shown 92% of people never actually achieve New Year’s Resolutions. The society relies so much on these agreements, but only 8% of the citizens do indeed. Something isn’t adding up.
Why set goals?
If you prepare and take steps to achieve your goals, it is much easier to achieve success. The setting of goals gives you a long-term vision and inspiration. Setting goal for startups is as important as any other business process and will benefit your business in long-term.
- 83% of people do not have goals
- 14% of people have a “plan in mind for their goals”
- Only 3% of people have their goals written down
This study found that the 14% of people who have goals are 10 times more successful than those without goals, and the 3% of people with written goals are three times more successful than the 14% with unwritten goals. So moral of the story? Write your goals down or you will be less likely to achieve them.
Writing your goals
Write down your goals as if they had already happened. Write “I have my own house” rather than “I am going to own my own home.” Ensure that you are setting targets for S.M.A.R.T. goals: Specific, Measurable, Achievable, Realistic, Timely. Set deadlines, know the steps you have to take towards your end goal and put them somewhere where you can see them after you have written them down. You won’t forget their significance when you see them every day.
If you run your own business, setting goals is even more important. When teams expand, the company’s priorities can easily be overcome by everyday tasks, advertising, hiring and many other organizational needs that can weaken team goals. Everyone is on the same page and working towards the same mission every day when you have goals written down for yourself and your team.
The 8% of people who achieve their goals are sticking to these 3 rules:
- They begin with the end in mind – it’s easier to keep going when you can see where you are headed
- They build a support system around them – these people aren’t afraid to ask for help and seek out mentorship
- They don’t multitask – nail it down to the 2 or 3 big things that are truly important to you
Now, it’s time for you to be a goal achiever.
Setting goals for startups is going to give entrepreneurs a vision and let them decide the best for their business.