All successful people in life share one thing in common and that one thing is their successful elevation started with a goal. It doesn’t matter where you’re located or how old your objective is because many times having a strategic goal makes the difference between success or failure in business. Accounting goals are even more vital because every stage of a business needs to produce stellar financial results to succeed.
Without accounting goals for your business finances, you have no way to know how or when you’ve met or exceeded your business objectives. Your business goals keep your business moving forward and helps contribute to your success.
Goals for a business can be Weekly, Monthly, Yearly or even goals for five or ten years away. Goals must be specific, written in clear language specifying who will be responsible, what will be needed, including any help necessary to reach the goal. To know if you have reached the goal, you need to be able to measure it; how many, how much or how often. Goals need to be achievable, an unachievable goal is un-motivating. It defeats the purpose of having the goal in the first place. Does the goal you set, make a difference in your business? If the answer is yes then it is relevant. Always set a completion date for your goals. While you can change the completion date based on the availability of resources, having a timeline will keep you accountable. All these requirements help you to make a SMART Goal.
Keeping a master list of goals helps you to keep track of all the goals that you have set, while an individual worksheet for each goal helps to break it down into Actionable Items. See our handy worksheets for ideas.