For example, when a business owner says we "need to sell 500 unites of this product in order to breakeven at the end of the month" a specific goal has been stated, with a timetable, with desired results. From that point, he begins to communicate the goal to the responsible business unit. The goal must be communicated and understood by all involved. Organizing, and planning take place within leadership and execution set into motion by those responsible. Weekly feedback is given to those executing the daily task and the desired goal is being pursued.
When the company has a specific goal to acomplish motivation to work can be increased tremendously.
So, here are 7 Steps to setting goals for your business:
1. Understand the purpose for setting the goal
2. Be specific
3. Understand the who or what needs to happen to achieve the goal
4. How much effort is required, am I (or we) capable
5. Who is going to provide the feedback necessary
6. What type of timeframe is needed, is it reasonable
7. Can others benefit from the accomplishment of this goal
These are but a few. If you would like to add to these steps please do. I would love to hear from you.