Setting meaningful targets is vital for sales success – here are my top tips to help you along your way.
Over the last month, I’ve been discussing how to set meaningful targets and during this time I’ve flicked from using the word target to goal on several occasions. Do they mean the same thing? Think of a football team. A target is where the ball needs to be placed within the goal. But a goal is the outcome that the player hopes to achieve.
Having a target within your business can be the difference between standing still or taking things to the next level. Although targets have their place without the mindset to achieve that goal, a target will remain just that, a target. It’s shocking to believe that from both business and personal goals, only 8% ever reach them.
This again comes back to making sure your targets are meaningful and relevant to your business strategy, always driven yet achievable. Here are just a few more tips when using meaningful targets within your business.
Top Tips For Setting Meaningful Targets
1. Continue to review your performance.
Whether you set your targets weekly, monthly, quarterly or yearly make sure you have allowed enough time to sit down (preferably with someone impartial to your business) and review your performance relating to achieving your business goals.
Reviewing your performance with someone impartial such as a sales or business coach can help as they will often be less attached to the choices you made. Sometimes as a business owner we get tunnel vision and become obsessed with the ‘now’ losing sight of how we got there.
2. Recognise your progress
How have you grown as an individual? How satisfied are your customers? How much have you earned and what did you hope for? Are you still on track with your business strategy? There so many questions that you should be asking as a business owner, and it’s hard to keep track of these as an SME. However, by setting meaningful targets and continuing to review your performance you’ll quickly be able to recognise the success and what hasn’t gone so well.
3. Make it part of your business plan
If you’ve been reading my blog posts or following me on social media for a while, I feel I should be able to leave this top tip blank. As you know how much I believe nothing can or should be done without relating to your business plan. Putting short term results to one side, without a business plan you have no way of navigating your way to success.
Having meaningful targets aligned with your business plan gives you a route or path to follow, review, recognise success and adapt, just like you would when navigating a car. Often when a road is closed or an accident occurs, we’ll need to take a detour, but the aim of that detour is to get back on course as quickly as possible, back onto our intended route that we planned with assurance to get us where we need to be.
4. Consistently thank those on the journey with you.
You are a team, whether you have employees, contractors or freelancers. They want to know that their input is helping you stay on track and consistent with your original mission. Keeping your team informed and thanking them when possible keeps everyone inspired, motivated and in the same direction. Success is a by-product of a great working environment.
Next steps and further reading.
If you’re interested in setting meaningful sales targets to help get your business to the next level, then take advantage of my free download. You can do this by signing up to receive my weekly sales and mindset blog. This download will help you effectively create a focussed and efficient set of targets for the continued and consistent growth of your business.
One step further. Head over to my Sales Mindset Coach website and view the various range of products available to help you in your sales journey, from live events, free social media groups, and online courses! There’s something for even the smallest business and there is really no reason you cannot start improving your sales today!