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20 May 2015

Goals and targets – by BizMum Rhea Alton

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Start with values – you should have values within your business that can help to guide you.

The owner of Timpson’s shoe repair chain uses Mr Men that he would like to employ and those that he wouldn’t and they define his company values.

He would employ:

* Mr Happy

* Mr Friendly

* Mr Keen

* Mr Reliable

* Mr Neat

And so on…

He would not employ

* Mr Dull

* Mr Lazy

* Mr Late

* Mr Dirty

* Mr Dishonest

And so on…….

What Mr Men would you want in your business? And which ones would you not want as a part of what you are building?

Then create a vision for your business so you know where you are heading.

Your business vision guides your choices and gives you confidence in what you are doing.

When thinking about your vision think about what you want to achieve. A simple, memorable focus on your target.

Then create your mission statement.

Your vision is the ultimate goal but your mission statement is how to get there.

Think about missions – without a mission James Bond would have no idea where he was going or what he was doing…making him very unlikely to succeed.

A business mission statement explains to you, those that work with you and your clients how your vision will be achieved, how you operate and what they can expect from you.

This mission statement also defines the business and sets you apart from the crowd. It also helps you to be consistent.

Again keep it simple:

Key things to include are what you do, how you do it and why you do it that way. Think about how you want your customers or clients to think of your business, what you think will make them choose you over others.

And finally….goals.

Write down 5 lifetime goals.

Now write down 5 five-year goals

Now write down 5 12-month goals.

It is important to do it backwards to allow you to be realistic with your goals.

ie If a lifetime goal is to retire early to spend lots of time with grandchildren, your five-year goals may include having a family and your one-year goal may be to get pregnant!

If a lifetime goal is to have branches all over the country your five year goals may include expanding and franchising the business and a one-year goal may be to turn the business into a limited company.

Knowing where you want to be helps with what you do today and tomorrow and helps you plan for your business and help it to become what you want it to become.