What Kind of Goals Should a Small Business Owner Have?
Setting goals is one of the most important components of finding success.
This is true for everyone no matter if they are trying to enhance their professional life, get better at a hobby, or save up money for financial security.
Goal setting is especially important for small business owners.
Maybe you are trying to get your business off the ground, or maybe you are trying to turn a profit, or, if your business is already successful, you are looking to open a second (or third) location.
Regardless of your vision, it won’t happen overnight.
You need to set incremental goals that will serve as stepping stones to greater success.
In this post, Legend Web Works will give you realistic goals business owners should have and some tips for meeting those goals in a set timeframe.
Set These Goals for Small Business Success
No two businesses are the same. Because of this, your business’s goals should not be the same as the storefront next door.
Let’s break down some goals you might set based on your business’s development stage to help set you up for success.
Goals for New Businesses
So, you’ve just established your small business. You’ve been in business for a few months, maybe a year, and you are working to find your niche. You probably already have a business plan, a few steady customers, and a storefront (digital storefronts count too!), now it's time to set some goals to take the next step toward long-term success.
Increase Web Traffic and Use Your Site to Drive Sales
This may seem like a daunting goal at first, but with a little hard work, you can get your site working for you.
You likely already have a website (we do live in the digital age after all), but you probably haven’t yet figured out how to use it as a tool to drive growth.
Increasing your site traffic is the best way to generate passive sales.
Here are a few ideas to get you started:
- Set up a social media account and actively post. Use hashtags to help get discovered.
- Set up a Google Business Profile (or GBP) for your business. A GBP helps you get found on the web, and clearly displays directions to your business, your business phone number, website, reviews, and more.
- Research SEO and implement keywords onto your site.
- Write some keyword-rich blogs based on your industry expertise and post them to your site.
- Encourage foot traffic customers to follow your social media page or check out your website for a special discount.
Increase Sales Quarter to Quarter for a Year
Your business needs sales to make money. Sustainable long-term growth is the best way to ensure that you will stick around for years to come.
Try these ideas to reach your custom sales goal.
- Run your first promo or sale.
- Set aside a modest advertising budget.
- Research which media avenues are best for advertising in your industry.
- Encourage repeat customers by establishing an email list. Distribute a monthly newsletter focused on driving sales.
Goals for Established Businesses
Your business has been around for a while. You're turning a profit and have a handful of employees. So, what are some goals you can set to take your business to the next level?
Improve the Employee Experience
For those businesses that have a team of employees, keeping the same faces around long-term can reap huge benefits for your business.
But loyal employees are not developed overnight, it takes mindful actions and a profound strategy to ensure your small business retains its employees.
Try some of these goals to improve your employee experience:
- Focus on developing employee benefits like insurance, PTO, and 401(k) programs.
- Invest in your employees. Give them opportunities for internal promotions, and improved industry knowledge.
- Try work-from-home schedules if applicable to your business.
Reduce Your Overhead
Want to make more money? The easiest way to improve profit margins is by spending less.
Try some of these ideas to reach your goal of reduced overhead.
- Go inkless and paperless. Printer ink and reams of paper add up.
- Hire an accountant. They can help you identify areas where you are spending too much.
- Outsource work that is expensive to do in-house.
Take Your Small Business Further with Legend Web Works
Setting goals is just one part of finding success. To accomplish something greater, you must achieve your goals.
Setting a realistic timeline and breaking your goals down into steps is the most surefire way to find sustainable success.
If you are looking to drive sales and establish your business presence, then you need a jaw-dropping website and stellar marketing.
You’re in luck! Legend Web Works is here to help.
Our team of developers builds you the perfect website to reflect your business and drive sales, while our marketing team establishes your reputation and helps you give found on Google.
If you are ready to start meeting your small business goals, take the next step and reach out to Legend Web Works today!