What are Business Goals?




Business goals are part of a larger process that starts with the vision and mission of your company and ends with specific goals, objectives, and action plans that help you move your business forward. Business goals should be SMART (specific, measurable, attainable, realistic, and time-bound). This helps ensure they are strategic and clearly defined. Goals are general statements of the achievements you would like to reach, and you can set them in a variety of different areas.

Revenue Goal
Growing revenue is a common goal for many businesses. You want to be sure you include leaders from the marketing, sales and production departments to help make certain that the goals you choose are appropriate and have strong support.
Some examples of revenue goals include:
·       Increase sales by 12% by the end of the year
·       Increase the income in our Divisions by 10% by December 2019
·       Raise prices by 2% over the course of the next 12 months
Once you have set revenue goals, you'll then need to establish specific business objectives that will help you achieve the desired results.

Profitability Goals
Simply bringing in more money does not mean that your organization will be more profitable. To increase profitability, you must improve revenue and cut costs at the same time. You may also include efficiency goals, because increasing efficiency saves the company money. When your business saves money, you can be more profitable.
You may set the following profitability goals:
·       Negotiate with suppliers to cut costs on raw materials by 2% within the next three years
·       Implement a training program to help sales representatives shorten sales calls by 5%
·       Reduce facilities expense by 15% over the next five years
Setting and meeting goals that increase revenue, decrease costs, and improve efficiency is essential for businesses focused on boosting profitability.

Customer Service Goals
All companies operate to serve their customers. Whether your clients are individual consumers or other companies, you want them to have a great experience every time they interact with you. When your organization is known for being easy to do business with, it will be simpler to attract new clients and build your company.
Examples of customer service goals include:
·       Reduce the response time in the customer service queue by 5% by the end of the year
·       Improve customer satisfaction survey results from an average of 3.5/5 to an average of 4/5 by December 30.
·       Increase the number of self-service help articles from 50 to 150 by October 1
There are many other goals that that you can set for your business that are not outlined in this article. Set other goals and keep your business riding at the growth rate you expect.
In summary, set your goals and work to achieve them.

What are Business Goals? What are Business Goals? Reviewed by proville on 3:57 pm Rating: 5

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