Retail PR & Digital Marketing

How To Set Realistic Goals for Your Business in the New Year

ChicExecs Co-Founder and Co-President, Kailynn Bowling, shares how to set realistic goals for your business in the New Year on  Newsweek blog. Check out this highlight from the feature.

If you’ve run a successful business without goals, you might wonder why you need them in the first place. While goals are definitely not necessary for success, they’ll help you run a better business.

Most business owners don’t have any trouble creating goals. But many people struggle to create realistic goals that their business can actually achieve. There’s nothing wrong with shooting for the stars, but these four tips can help you set achievable goals for 2023.

1. Consider Your Current Resources

You need to back up your goals with resources. For example, if you want to increase sales this year, what do you need to make that happen? You might need more salespeople, a PR consultant or new products — and all of these things require resources.

2. Break up Big Goals

We love big goals, but sometimes goals can be too big. If you want to earn $1 million in revenue this year but you’re currently pulling in $200,000, that’s a pretty big jump. Shooting for $300,000 in annual revenue might be a more realistic goal.

3. Set Goals as a Team

You’re the business owner, which means it’s your job to shoot for the moon. But you can’t operate in a bubble; your team has to be on board with whatever crazy goals you set for 2023.

4. Follow the SMART Framework

You should run all of your goals through the SMART framework before making them official. This five-step process helps business owners refine their goals to be more specific and actionable. Make sure your goal is:

  • Specific
  • Measurable
  • Achievable
  • Relevant
  • Time-bound

Read Kailynn’s entire article here.

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