Assessing your 2017 business goals
15 Nov 2017 FINANCE
By Nomali Cele
With the year coming to a close, it’s that inevitable time to assess how the year has gone so far and where we are with our goals. It’s no different in business. With each passing year, it’s an opportunity for a business owner to get closer to their goals.
Growth is a natural goal to make for a business. Be it profit growth or team growth, it shows that the business is making progress.
What to keep in mind when assessing your 2017 business goals
The country has been having a difficult couple of years when it comes to economic growth. It’s likely that most business owners will have set goals with an optimistic outlook. The climate is in such a state that surely any growth is positive so keeping this in mind as you assess your business growth goals is important.
New business is the number way that can lead to a business attaining its growth goal. Getting a new client or contract should lead to making more profit, which would eventually lead to a growth in human capital. But it’s not always the case.
What to keep in mind when assessing your 2017 new business goals
When you assess this business goal, ask yourself if the new business you have gotten in the year has done what you expected it to do for your business. In some instances, new business can lead to a loss for your business, which is why it’s important to approach each new contract
What’s one way to attain new business? Diversifying your skills and what the business can offer. A upskilled workforce can take on a different kind of work, which, depending on your industry, can lead to more opportunities.
What to keep in mind when assessing your 2017 skills development goals
Now that you’ve spent the year investing in skills development, this is the time to assess whether the investment was worth it. You won’t know whether a conference and course will give you the development you need until you’ve paid for it. This is where skills development can be a bad investment which can lead to losses
Regardless of what your business goals were in 2017, it’s important to assess them and plot a way forward and new strategies to attain the goals.
Tweet us on @KayaFM95dot9 and tell us what business goals you set yourself this year and how you will be assessing them.