Effective goal setting will help you get the very best out of 2023. Our 5 goal-setting tips will help small trade business owners reach new highs.
Whether you want to grow your trades business or take more time for yourself, these goal-setting tips can help you achieve your long-term plans.
- Think big! – What do you want from your life – and how can your trades business help you achieve that? Think about next year and beyond; what does your business look like in five or 10 years? When you know what endpoint you’re aiming for, it’s easier to set goals that move you in the right direction.
- Pick something you can measure – Vague goals aren’t as helpful as those you can measure and monitor. Think about what you already measure in your business and how you’d like to see those metrics change. For example:
- A 3% increase in net profit year-on-year
- A 2% reduction in expenses
- 1 new customer per month
- Reduce average payment time to under 50 days
- 4 weeks of holiday during which you don’t go into the office at all
- Make a plan to achieve each goal – Once you’ve picked a few goals, come up with ways to achieve them. It could just be back-of-the-envelope thinking or have a brainstorming session with your team or your advisers – Tradies Tax can help with this. When you have a plan in place, do your best to follow through and make it happen.
- Keep monitoring your progress – Check in each month to see how you’re tracking with your goals. Set yourself reminders on your calendar or make it part of your invoicing cycle. If you’re not quite on track, you can make tweaks or come up with some fresh ideas to help you reach your targets.
- Plan a celebration! – Give yourself a good reason to keep striving for your goals. It might be a long lunch, a trip to the beach, or a beer advent calendar next December. Something you’ll enjoy that’s not going to blow the budget.
Tradies Tax Can Help With Your Goal Setting
Not sure what your goals should be or how to monitor them? Tradies Tax can show you where to find the information you need, how to check on it, or keep an eye on it for you.
Our team can also help with curating some ideas for how to reach your goals and build your business.
Contact Tradies Tax today on (07) 3510 1500.
We can help take your business to the next level, with our business development services. We specialize in business planning, growth and advisory, and will also help protect your business with a succession plan.
This blog was originally published by BOMA.