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How to set effective business goals for 2022

Dec 23, 2021



Having goals is the essential link that not only takes your business from dream to reality, but that allows you to thrive in all areas of your work and life. The right goals help you chart a journey that can sustain you through both productive times and when challenges come along, and they give you a roadmap to keep you on course as your business grows.

If you know anything about goal-setting, you’ve probably heard about SMART goals. This acronym stands for:
Specific
Measurable
Achievable
Relevant
Time-bound

When taken together, this means that goals should be explicit and concrete, never vague. You need to know exactly what you want to achieve (Specific) and how you’ll measure your progress, including the tools you’ll use to track your results (Measurable). The goal needs to be within your control (Achievable), connect with your values (Relevant) and have a clear deadline (Time-bound).

Having SMART goals is a recipe for success, but they aren’t always approached in the order that the acronym suggests. Instead, an effective goal-setting exercise begins with R – understanding what’s relevant to you. So, before you think about goals, take a step back to get clear about your values first. These exercises will help take your goal-setting to the next level.

Goal-getter tip #1: Understand your personal drivers
Each of us is shaped by our values and motivated by different driving forces. Pinpointing your own personal drivers can help you reach your goals on your own terms. Importantly, it’s easier and more rewarding to pursue goals that are aligned with your values because they just feel ‘right’ to you. Conversely, when you set goals that conflict with your personal values, achieving them can often feel hollow or empty.

So, before you even start considering your goals, take some time to think about your personal drivers and values. Here are 8 common drivers:
SUCCESS: You want to be the very best version of yourself. You may define success in terms of money, status or position but no matter how you define it, achieving it is the most important thing to you.
PURPOSE: You want to create meaning in your life and are driven by your vision of a bigger picture.
INSPIRATION: You want to feel inspired and empowered by the people and opportunities around you. Equally, you want to inspire others to feel the same.
HAPPINESS: If this is your top goal driver, your desire to be happy will influence every decision you make.
ORGANISATION: You like plans, processes and taking a precise approach to your business. Your methodical and focused way of working helps you reach your goals.
RESPECT: You like to be shown respect for your achievements and to have your successes acknowledged by others.
CONFIDENCE: Your goal is to feel confident in your own abilities, because when you do, you know you can achieve success. Your confidence also inspires others around you.
RELAXATION: You take a balanced approach to achieving your goals. They must fit into your life – not the other way around.


Goal-getter tip #2: Know how you’ll measure success
Your personal drivers may also give you an insight into the ways you measure success. Traditionally, businesses have measured success by charting their annual revenue, gross profits, or the size of their office.

These goals are all still legitimate if they genuinely resonate with you. But success comes in all shapes and sizes, so here are a few others to consider:

WORKING HOURS: What will be your regular working days and hours?
TIME OFF: How many weeks of annual leave will you be able to take when you’re running your dream business?
LOCATION: Would you like to be able to work from home, or do you dream of building a business that you can run while travelling?
YOUR ROLE: What role (or roles) would you like to play in your business?
TEAM MEMBERS: How big would you like your team to grow?
EXTRA SUPPORT: How much extra support and expertise will you have, and what kind will help you most?


Goal-getter tip #3: Give yourself time
Strong, effective goals are rarely set after a quick brainstorm session – although this is a great way to start the process. It’s important to set aside enough time to think through your values and drivers, the type of life you’d love to live and how your business can complement that.

It’s equally important to write down your goals, so you can refer back to them regularly throughout the coming weeks and months. Plus, getting into the habit of reflecting on your goals not only keeps you on track, it also gives you the chance to track your progress and to measure and celebrate your successes along the way.

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