Most corporate leaders set business goals for 2019 months before it rolled around. What business goals/New Year’s Resolutions did your company set? Is it on target to meet them? If not, now is the perfect time to get things back on track and ensure business goals are realized in 2019.
Common New Year’s Resolutions for Companies
About 41 percent of individuals make New Year’s Resolutions, but it’s tough to estimate how many organizations follow suit. What is certain is that many companies set business intentions before the beginning of a new year. These can also be considered New Year’s resolutions for business.
“When some people hear that 80% of New Year’s resolutions fail by February, they get depressed and see little hope in their own stick-to-itiveness. Not us. We hear that and immediately focus on the outlying 20% still going strong with their business New Year’s resolutions,” wrote a contributor to 15 Five.
Here are a few common New Year’s resolutions that companies make:
— Lower the bottom line
— Grow the customer base by a specific percentage
— Create a certain number of new products
— Increase productivity
— Reduce ongoing business expenses
— Create a new customer service process
No matter what business goals your company made for 2019, there’s a good chance it can reach them with some direction from you and others in management positions.
How to Help Your Company Stick with Its 2019 New Year’s Resolutions/Business Goals
1. Develop teams for each initiative — Do you have teams created for each large goal your company has for 2019? For example, you could have a team for innovating new products and deciding the timeframe for developing and launching them, as well as a team responsible for coming up with ways to cut costs this year. If those teams aren’t in place, arrange them ASAP.
2. Accept when a goal just isn’t realistic — It’s OK to dream big, especially at the start of a new year, but it’s important to accept when a business goal isn’t realistic. This doesn’t mean you toss the goal. It means you rework the goal into something more reachable. Also, try to find out what specific resources your company is lacking that is making it difficult to keep corporate New Year’s resolutions. Get with your peers and brainstorm some ways to increase those resources.
3. Delegate what you can — As a company leader, your plate is probably beyond full. If you assume the responsibility of ensuring every business goal for this year gets met, it will put undue stress on you. That said, It’s crucial that you are aware of your limits, what you can help with, and what needs to be delegated to others. This is where creating teams and trusting them to drive business goals comes in to play.
What Business Goals is Your Company On Target to Meet?
Has your company already met or exceeded some of its New Year’s resolutions for 2019? If so, what are they, and what goals are clearly not being met? Staying aware of this will help you take the necessary steps to successfully drive business goals this year.
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