Every great success story begins with solid goals. Here at MLP Accounting & Consulting in Springfield, MO, we recommend you consider the following steps to propel your business toward Profit First growth in 2022.
- Maintain A Budget
- Set Specific Goals
- Keep Score
- Gain Buy-in & Accountability
Who Needs A Budget?
Everyone—from a kid managing their allowance to the most successful business owner—benefits from setting a budget at the beginning of the year and maintaining it closely throughout each quarter. It can be easy for dollars to slip out of sight faster than we realize, especially in our current culture of credit-based purchases.
Contact us today to ensure your budget is on target with your annual goals.
Why Should I Set Goals?
“You get what you focus on. So focus on what you want.” – Steve Mehr
Can you do business without goals? Yes. However, it’s immensely easier on you and your team if there is specific clarity around the current goals and the specific timeline to achieve each goal. Once you define your goals, you can better convey your company’s vision and direction to your team to gain tremendous collaborative success.
As Forbes.com mentions here, “The more time you spend describing and visualizing your goals, the more likely you will be to actually achieve them…Define where you want your goal to be at each step of the way. Think of this as your goal’s roadmap. Be specific with what you want to accomplish at each point.”
When you define your annual, monthly, or quarterly goals, you create a scoreboard for your team with clarity.
What’s The Scoreboard For?
If you don’t have a clear scoreboard for your team, how do they know what winning looks like in their role? How do they know if their contribution is helping the company move the needle?
If your goal is to reach a certain sales number by the end of Q1, then be sure you have a visual method for tracking these sales numbers. Then the entire team can draw momentum, collaboration, and clarity from where the team is and how far they need to reach each goal. It’s one thing for the boss to know that the team is on track. It’s a win-win if everyone on the team realizes their efforts are successful! Keeping score helps you gain buy-in and accountability.
Who Needs Team Buy-in And Accountability?
When you set your annual goals, remember to write them down or craft them together with your leadership team or a group of trusted individuals. The point is to ensure you have someone to hold you accountable. Also, the more of your team you bring to the table, the stronger the buy-in will likely be for achieving your company’s goals. If your team is all-in and committed to your vision and objectives, and how they can help you achieve a greater purpose, then you’re set for success!
The MLP Accounting & Consulting team is all-in to help keep you on budget, accountable, and Profit First for success in 2022! Book your complimentary call now.