Every person has a personal goal or business goal, whether we try to achieve it or not, we still have goals. Honestly, mostly these goals never take off, as they are poorly executed or never planned well, but nothing stops us from having a goal. Well, haven’t we heard this too often?
Goal setting process can be at times be very hard and uneventful, but there is a scientific approach to goal setting and most successful people and organizations have mastered it. Goal setting in management is another important area where all organizations want to excel. We set annual goals, quarterly goals, and at times daily goals too. But when we evaluate the goals there is no concrete data that supports the goal or the achievement of the goal.
Let’s explore the 6 proven steps to the goal-setting process that will help organizations or people achieve greater results. Let’s begin with asking what are the six steps of the goal-setting process
Why is Goal Setting Important?
Setting business goals or personal goals can be short-term and long-term. Goal setting helps in gaining knowledge and lets us plan and organize the time and resources available.
When we talk about or write about goal setting process we frequently come across questions like
- How to set business goals?
- How setting goals can lead to success?
- How to plan business goals?
It is a proven fact how setting goals can lead to success. Success gives you motivation and pride in our accomplishments and eventually leads to self-confidence and increases our required competence.
What are the Six Steps of the Goal-setting Process that Help us Achieve?
#Step 1 – Set Specific Goals.
The first step in goal setting is making our goals specific and measurable starts the goal-setting process. Ensure that the goals are achievable and timebound. Once the goal is set, ensure that the goal has an owner and is aligned to the goals. This owner will coach, guide, and lead the team to achieve it. Goals keep everyone energized and focus and lead in achieving the goals. Goals should also be worth the effort and significant enough to accomplish. Set the goals along with targets regardless of the failure that comes along the way. Setting business goals and objectives is very critical to every business.
You are planning a corporate goal-setting and while doing that we should also analyze how to set corporate goals and how it affects the team. You should also ask what should you consider when formulating business goals and how it will help me achieve company goals
- Creating a great place to work can be a goal for an organization.
- While breaking it down we can be specific and make it measurable and time-bound too.
- Ensure NPS score of 9 by Q4 – this is specific, measurable, and time-bound as well.
#Step 2 – Write down your goals.
Aspiring to set a goal is everyone’s wish and dream but many don’t think that writing down the goal is important. Breaking the annual goals into quarterly and daily gives a lot of visibility and while breaking it down we will see the gaps as well. Having a board in front of us and which has the goals written and it glares at us every day, can be a great source of energy. Wisely the goals can be reviewed weekly to see where we are. Are we Moving forward or standing still? Create a daily checklist or a to-do list to achieve the long-term goals, this transparently shows us the reality. If our To-Do list has nothing aligned to our goals it’s no evidence that we will not achieve our annual goal. Review the list correct it and align it to the goals
Fill all CTO positions by December 31
To achieve that goal we need to write the list that will help us to achieve it
- Complete the screening by August 31st
- Complete the interviews by September 30th
- Offer the candidate by October 15th
This list helps us to achieve the larger picture
#Step 3 – Ask for input.
“There will always be rough days and easy ones. Like a ship, we must sail through both.”
While working towards achieving the goals it becomes extremely difficult to keep ourselves up and fight the negativity the failures bring. If we have a goal to earn $25000 by June and you are way past June and haven’t achieved it, what motivates you to travel, what keeps one going is the vision of the goal itself.
- What course corrections can be taken to improve the situation?
- Do we have a contingency plan to recover
- How will I cover the deficit and achieve the current
As a child, we always took our mother’s input and it reassured us, likewise, it is always good to take input from those who have been there.
Seeking inputs from those who have been there can share their perspective and make the goal much focused and prepared for the failures.
- Talk to mentors and leaders who have accomplished their goals
- Get the details of the input required and the outcome expected.
- Ask someone to have a helicopter view of your goal and execution plan.
For Example, If you have a goal of securing a venture capitalist fund this year for a SaaS product
Here are a few inputs you may get
- How compelling the pitch deck is
- What kind of ARR(Annual recurring revenue) should we have before the pitch
- What should be our IRR ( Internal Rate of Return)
Few example questions to pick others’ brains for input.
- Is this the goal be relevant to achieving the mission
- Have I broken it down effectively to see the progress of the goal
- Is my goal statement clear enough to achieve success?
- Is my target date logical will it be sufficient to achieve it?
#Step 4 – Develop self-discipline and focus on implementation.
Goal setting and goal management is only a start by right implementation make it successful. We need to review how we achieve it. Mostly we come across people falling in implementation as it calls for constant efforts and resilience to implement the goal. The self-discipline one has in the goal implementation ensures a 90% success rate. We have frequently come across organizations that try to implement Goals and the common mistake most of them make is a lack of commitment and self-discipline.
“Vision without action is a daydream. Action without vision is a nightmare.”
Success doesn’t necessarily come from breakthrough innovation but flawless execution.”
Execution is an art and it needs constant push and concentration. Write down a phase-wise execution plan and adhere to the plan, though it sounds simple there are too many variables that affect this process. Wear a shield of perseverance and relentlessness, you are sure to achieve your goal.
#Step 5 – Review your goals regularly.
Yet another important factor in the goal-setting process, even after doing the above-mentioned seamlessly well, it sure requires periodic reviews, else there is always a possibility that this will fail.
Without knowing where we are and what are our accomplishments and pitfalls we cannot move forward.
Set a regular weekly or fortnightly review with yourself and analyze where you have gone wrong and where you have done well. What are outs hits and misses? If the intervals between the reviews are long then we will lose the time along with that. Shorter reviews will help us to shift gears and course correct on the go
We decide to have 14 demos every week. It sounds wonderful to read this. But only while you review do you understand if you have achieved it. There is always a possibility of not achieving the goal, you should eventually correct the coming week to accommodate the gap from the last week.
If these weekly reviews are practiced judiciously then there is no show stopper to achieve the goals set and achieving a goal set is the greatest contentment and satisfaction one can get.
#Step 6 – Reward Yourself.
A goal Owner is one person who deserves to be rewarded if not by others at least by themselves.
They have been through a lot of hurdles and seen a lot of negativity during their implementation process and it is necessary one reward themselves for what they have delivered or planning to deliver. We must reward as we have taken an initiative no one has dared to.
Keep appreciating yourself and keep achieving your goals
Having understood how effective the goal-setting process can be, we get motivated to set a goal and start working. Sign up to the Datalligence platform for seamless execution of the goal. Datalligence is a goal-setting platform that measures outcomes. Write to our experts to start your goal-setting process today.