Any new business entity must have an established business plan as well as a concrete set of goals. Along with The Company Mission Statement, goal setting and planning are essential to the core of any business. Management and employees alike must be on the same page to insure continuity.

No matter how long you have been in business, you are always vulnerable to the changing economy. Always plan and set goals ahead to help overcome obstacles along the way. Be prepared and be ahead of the curve. This is a must if you want continued growth. Confronting “road blocks” will be much easier to overcome and lead you to the path of success.

The old adage ‘to fail to plan is to plan to fail” rings true. There are many myths in life as well as business that some use today to avoid setting goals and plan. The following are several that more than likely we all have used or at least thought of.

IT’S NOT REALLY THAT IMPORTANT! Just thinking you know what needs to be done isn’t enough. What worked last year isn’t a given this year. If you and your team are not working on next year’s plan today, it may be too late for next year. Working towards next year’s goals should always begin today.

If I know what needs to be accomplished, I don’t need to put it in writing. There is no such thing as an “unwritten” goal. Goal setting and planning needs to have a charted course and written on paper with a beginning and an ending date. Written goals will also entice your employees and give them the confidence they will need to contribute to the company’s success.

GOALS ARE ALL YOU NEED TO BE SUCCESSFUL! If this were true, we never would have heard of Bill gates or Warren Buffet. Success in any business or profession is dependent on the implementation, supervision, and coordination of the written goals.

Once I write down my goals I only review them once a year. This is definitely another myth or misconception. With the constant changing of today’s economy, goal planning must be reviewed quarterly, if not monthly. This will keep you from swerving off course and adapt your road to success. Evaluating your goals frequently must now become a common practice.

We must constantly adjust our goals to determine if increased production is approached in a timely manner or if a reduction in sales or staff is more realistic. If we don’t take these approaches cautiously, we could be in a financial crisis along with the economy or even in a strong economy. We will always be in a better position knowing the “storm” is coming rather than waiting until after it arrives.

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