When starting a new company, many new business owners tend to fall into the habit of planning only for the short-term, hoping that their new business will at least stay afloat through the following month. Even as the months go by and the company continues to thrive, many business owners still think this way despite their size, revenue, or business offering. Successful business, however, is all about future planning. One of the most strategic ways to drive business growth and profitability is to set goals for the future. Not only does setting goals act as an effective source of motivation for business owners and employees, but it can also serve as a relatively accurate prediction for what path is best in achieving positive outcomes for the new business.
Serial entrepreneur Paul Gravette is very familiar with the importance of setting goals. For more than 20 years, Paul Gravette has gained experience and knowledge in a variety of important business areas, including start-ups, brand development, software development, internet marketing, and customer/promoter acquisition and retention. Considered a thought leader in the direct sales industry, Paul Gravette is highly sought after for his consulting skills in topics such as internet marketing, software development, and health and wellness.
According to Paul Gravette, one of the best ways to take yourself to the next level in business is to embrace the practice of goal setting. Having clear-cut goals that excite you and add meaning to your life is one of the best ways to excel in your passion of choice, while also making enough money to make that passion a viable reality. Successful companies should always be trying to improve in every way possible, so that they can grow and become more profitable. Setting and achieving goals is one of the clearest ways to measure the success of a company.
To help fellow entrepreneurs set and achieve goals, Paul Gravette has developed an acronym that highlights each step of successful goal setting: S.M.A.R.T. First, potential business owners need to be “Specific” about their goals. The more specific you can be with writing down objectives, the easier it will be to clearly see what is needed to accomplish them. Next, you need to find a way to “Measure” your goals, so that you’ll know when you’ve achieved them. “A” is for “Attainable” – when it comes to setting goals, it is important to make sure they are possible to achieve. Finally, goals must be “Relevant” to your business and “Time-Bound,” so that you are able to meet deadlines.