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HOW TO SET YOUR 2020 GOALS AND ACHIEVE THEM: FOR BUSINESS EXECUTIVES

After waiting for quite a while, the long-awaited ‘Vision 2020’ manifests! And it is a strategic year in several ramifications. And just like every other person; for a Business Executive, setting goals and achieving them is paramount. We all aim to be better versions of ourselves and run a more successful organization each passing year. That is why I couldn’t agree more with John D. Rockefeller who says; don’t be afraid to give up the good to go for the great.

So, in this article, I will share eight practical and realistic ways to set your 2020 goals and achieve them.

  1. Identify Your Highest-Level Goals. Here, you critically identify and write down your company’s mission. What level of growth do you want to attain this year? You can work on this strategy alone or with your team. Identifying this can vary depending on your kind of industry or organization. For instance, these goals can be increase in revenue, grow users/followers, or any other measure. To do this, you might need to accelerate brand awareness, position for more visibility, or a start a new category. The key is to keep narrowing your focus till you can concentrate on the highest level goals for hitting your growth target for the year.
  2. Redesign and Re-engineer Business Process. This is connected to the first. Here, according to Tim Hindle in his Guide to Management Ideas and Gurus, this idea from its investors entails a “fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical measures of performance such as cost, quality, service and speed”. You have to analyze your company’s central processes and reassemble them into more efficient ways, and then narrowed down to your highest level goals.
  3. Breakdown Your Goals Into Objectives. Once you have identified these goals, break them down into objectives that are clear, actionable and attainable. It is not about the quantity of objectives but the quality. For instance, a goal to “become a market leader”, with an objective “increase revenue by 15% yearly”.
  4. Keep Track of Your Goals in a Visible Place. This is as important as writing them down- you need to see them every day and be reminded of what you have to do to attain those goals. Both you and your team need to see these goals so as to run with them. The more visible and feasible your goals are; the more you become spurred to achieve them.
  5. Define Clear Milestones. Your goals and your objectives should have milestones and must be clearly defined. Make sure your objectives are measurable, have deadlines and someone definite is responsible for doing it. For instance, “the social media manager is to increase our followers on Instagram to 20,000 followers by March 31st 2020”.
  6. Connect Projects and Teams to Milestones and Goals. It is not enough to have projects on ground and teams to handle them; you must marry those projects to milestones, and keep at strategic places for visibility.
  7. Share Progress Updates and Celebrate Your Success. As often as you hit milestones, be diligent to share them. The more progress your team makes, the more you constantly update your staff about them. Share them, paste them in visible places and celebrate huge or little successes. This helps to greatly boost the morale of your team members to be more productive.
  8. Use Previous Goals and Results (successes and failures) to inform your planning. Simply look back at the past and be wiser when planning and implementing the future.

In conclusion, have the end in mind and every day make sure you are working towards it” – Ryan Allis.

 

Virtue Edoziem is a Content Creator, Research Assistant and Social Media Associate at Talents and Skills Africa Consulting.

 

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