Goal setting requires a careful and realistic balancing act to be effective. Set goals with a plan to evaluate them monthly, quarterly, mid-year, and annually; not having a strategy for achieving an objective or a metric to monitor progress toward the goal’s completion is pointless. Don’t just set a goal; achieve it! Support your goals with the actions you need to take to make them happen. Some people find November the perfect time to reflect on their year and evaluate how well they accomplished their goals. The extra motivation to finish the year strong can come from the anticipation of the holidays, time off, or an uptick in sales.
If you want to know how to determine which goals will lead to your success, check to see if they meet the S.M.A.R.T. criteria. Are they:
Specific
Measurable
Attainable
Relevant
Timely
Evaluating yearly goals can assist in keeping objectives in perspective. Sales professionals will assess monthly, quarterly, midterm, and annual objectives. If you set a goal for yourself in January, say a new year’s resolution, you must be able to manage that goal. Did you check in on the progress throughout the year, and if so, how frequently and when?
If you’ve measured your goals in the previous three quarters and the midyear review, you’ll know exactly what’s missing to get you over the finish line at the end of the year. You have the numbers to know exactly what’s missing and what might be in the pipeline to finish the year. If you’re at 70% of your target and only have one sale opportunity in the pipeline that isn’t even half of that, it’s time to talk to your existing customers. You need a quick sale to push you over the edge. Look for low-hanging fruit that could be a backup plan. Reach out and ask your clients if they have any extra budget that needs to be spent before the end of the year can be as simple as that.
A pre-Black Friday sale or early holiday stocking stuffer bundle can significantly increase your sales if you work in retail. Advent calendars are super popular right now. Take advantage of this trend by offering a discount to customers who spend a certain amount. Create them to fit into the boxes you already have on hand.
If you’re a business that sells products or services to other companies, consider providing a business continuity assessment. If you’re in a professional service industry, like plumbing or construction, consider offering a discounted prepayment package for a seasonal inspection and evaluation in the fall and spring. Consider offering a coupon your customers and clients will appreciate, similar to the ones we gift our friends and family, like a coupon for a night out. A coupon booklet of pre-paid services at a discount of 10%–25% will give actionable insight that can be implemented within the next six months to help you reach your sales goals for the year. These are great ways to get new customers and keep the ones you already have for the next year.
Helpful Questions in Your Evaluation
What was the goal, and how was it broken down?
What was the percentage of progress toward achieving this goal?
How much progress were you able to make from the first to the second quarter?
At what point in the term do you notice increased productivity, and when do you fall flat?
Do you have problems with consistency, or are you maintaining an even flow?
Where are you at with your quarterly goals as we move from the second to the third quarter?
What’s missing, and what is needed to make the fourth quarter fill in any gaps?
What can be done to maximize time to meet your goals within your available time?
Remember, practical goals are S.M.A.R.T. goals. All of those components must be present for the objective to be successful. If you want to succeed, you must clearly understand what that success looks like. Make sure these goals can be measured within a specific time frame so that they are both realistic and valuable.
By the end of the year, you should clearly understand the steps necessary to achieve your goals if you have considered and evaluated all the above factors. You should refer to the blog posts explaining how to set attainable goals if you find yourself struggling to do so. I understand your goals might be super important for your lifestyle, taking care of your family, or getting to the next level. That’s fantastic! You should have those goals, but first, you need to make your goals realistic and grow from there. Now go make it happen!
If you need help creating goals and measuring them, read these posts: Goal Setting and Making a Plan, Mid-Year Goal Evaluation, and Quarterly Review Goals.
Subscribe for more business, sales, and investing posts.
