Avid Partners – Goal Setting for 2015

Our Goal Is To Get 10 New Clients Each Month In 2015. What’s Yours?

 Its Time to Set Targets & Goals For The New Year!

As another new business year begins companies are starting to Set Targets and Business Goals for 2015. By all accounts 2015 will be a very different business environment to 2014 with most businesses, but not all, setting their sights back on growth after many years of austerity and cost cutting. Economic growth is increasing rapidly and with it comes renewed opportunities. The effects of last year’s Budget Cuts will be kicking in from January and consumers will have a little  extra disposable income. Research conducted by Avid Partners suggests that over 80% of small businesses are planning on Growing their Business Revenues in 2015. What are your plans for 2015?

 1. Decide on what Level of Revenue Growth is Achievable in 2015!

This is a company specific answer based on the current circumstances of the business. To some services businesses 15%-20% is an ambitious target to strive for in a year where as if the business is a start-up with a decent level of supports then 100% may be the growth target for the year. Make the income goal ambitious but achievable. Targets that will be near impossible to meet will be demoralising when they are not achieved while targets that are too low wont motivate you to do better! Set an Ambitious Goal as well as a Targeted Goal for growth. That way once you have hit the standard target you are moving on to the ambitious one.

2. Decide On Your Specific Business Goals for 2015!

It may sound obvious but writing goals down makes them real and part of your thinking. You would be surprised by the amount of businesses that don’t take the time to map out their plans. Many have a couple of vague targets in mind that stay hidden from any formal business plans. Keep your goals Simple, Measurable, Attainable, Relevant and Time Based. Stay away from clichés like “our goal is to be the number 1 business in our market by the end of the year” or “our goal is to treble our turnover in the next 12 months”. Blind statements like those show that little or no effort has been put into the though process for the business. Be better than that and your team will believe in you a lot more!

 3. Is It Time to Re-Evaluate Your Target Base?

Every business develops year on year and with that comes a need to Change their Target Market. That doesn’t mean you are going to dump your existing customers but it may mean that you are focusing your efforts into gaining new clients under different criteria. It may be that you need more larger customers of scale going forward or more profitable customers in a different business area than what your current mainstream client base currently consists of. Don’t stick to targeting new customers that your business has outgrown as some of the most expensive words in the business language are “but that is the way we always did things“.

4. Evaluate How These Goals Are Going To Be Achieved?

This is where your marketing brain kicks in and outlines in detail the activities that will be undertaken to achieve your Growth Targets for 2015. Develop a brief but specific marketing plan or marketing calendar whichever you prefer. Highlight and briefly discuss the activities along with targets of customer acquisition, frequency, cost and allocation. For small companies on restricted budget stick to a small number of core strategies that have proven to work such as:

  • Content Marketing, Direct Mail/Newsletters, Events, SEO Campaign, Social Media, Public Relations, Referral Programme, Strategic Alliances, Advertising (online & offline), Networking, Promotions and Direct Mail.

Use this opportunity at the start of the year to have a re-vamp of your company website. After all your website is your shop window so make sure it’s looking its best going into 2015!

 5. Create Your Action Plan & Timelines

Document when tasks are going to be completed, who is going to do them and when. Make sure everybody in your organisation is playing to their strengths and not assigned tasks based on the fact that nobody else wants to do them! Have regular reviews to discuss progress. Also decide if you need some outside assistance with certain tasks as very few companies have expertise to do everything in-house (e.g. web developers, marketing experts, financial assistance). Be sensible when setting timelines for your activities.Over the Summer months many professionals take holidays so don’t schedule important promotional events around this time. Businesses start winding down in December so don’t leave any important communications until the end of the year.

 6.Implementation – Get Stuck In Straight Away!

 As soon as you set your goals and objectives start work straight away and don’t leave it a week or a month to begin the growth push. If you do there is nothing more certain than momentum being lost and the good will of the New Year will have passed your business by. Keep in mind that you have to share your goals and allocate responsibilities to your team as nobody can achieve ambitious goals on their own in a team business. Make sure you manage your time effectively in 2015 and stay focused on the issues that are really important. Try to create the best working environment in your organisation and despite the setbacks you will inevitably encounter try to stay positive. Finally don’t be afraid to celebrate your successes along the way. Success breeds success and when you achieve something worth shouting about do so .

Click Here to Read The Full Article On Effect Goal Setting For 2015

Click Here to Give Avid Partners 15 Minutes to Help You Achieve Your Goals

Email Us @ [email protected]. Call Us On: 0818 303087 

Goals & Targets – Case Studies

 

Case Study 1 – Consultancy Business

Broad Goal – We want to Grow our Company Revenues by 20% in 2015.

Broad Financial Goal – €126,000 Revenue Growth

New Customer Acquisitions – 136 New Small Businesses

Customer Base – Retain Existing Customers & Expand into Larger Customer Segments for New Business.

Marketing Activities to Growth – Monthly Business Seminars, Facebook & LinkedIn Online Campaigns, Online & Offline Marketing, Monthly Newsletters, Daily Social Media Posts, News Article Monthly Contributions, Referral Programme Targeting 10 Client Referrals Per Month, 25 New Strategic Alliances for 2015, 3 Blogging Articles Per Week, Twice Yearly Client Services Meetings, Website Development Programme in January and Ongoing SEO Campaign.

Monitoring Timelines – Monthly Management Meeting to Review Progress

Allocation – Team Based Initiatives with Individual Responsibilities for Delegated Tasks.

Case Study 2 – Legal Firm

Broad Goal – We want to become Well Known Experts in Our Field in 2015

Specific Goal – I will become an expert on the topic of employment law

Measurable – I will be successful if I am asked to speak on the topic once a month, receive interview requests every week and write one article per month for a top industry publication.

Attainable – I will achieve this by hiring the services of a professional marketing firm and launching a publicity campaign.

Relevance – Establishing myself as a small business employment expert will re-enforce my 20 years in the business and allow me to reach out to more small businesses looking for employment law advice.

Time Period – I want to be established as a small business law expert in 2 years with 2015 being the break through year.

Click Here to Download Our 11 Techniques To Make Business Profitable E-Book 

Click Here to Give Avid Partners 15 Minutes to Help You Achieve Your Goals

 

Email Us @ [email protected]. Call Us On: 0818 303087 

Avid Partners – Accountants & Business Advisers

 

Avid Partners are a Full Service Accountancy & Business Support Company Based in Citywest Business Park, Dublin.

Phone: 0818 303087

Email: [email protected]

Website: www.avidpartners.ie

Business Turnaround or Consultation: [email protected]

Accounting & Financial Administration: [email protected]

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