Top Reasons Why Business Owners Don’t Set Goals

A smart business owner knows the fundamental value of goal setting in steering a growing business in the right direction. For decades, experts have harped on about its value, authors and speakers have written books and created programs all about the benefit of goal setting. Yet, more than 80 percent of small business owners still do not keep track of their goals.

They don’t have time to grow their business

We’ve all been there. Having days, weeks, or even months where you are so busy working IN your business, you barely have time to eat or sleep, let alone work ON your business. Whether you’re a one-man show or you’re growing so fast that you’re busy managing day-to-day issues, it is imperative that you step back and strategize. Without a solid plan, how can you expect to grow over time? By spending a couple hours a quarter creating goals for your business, and an action plan defining how you will achieve it, you will take control of your business growth.

They don’t know what they want

In reality, not setting goals is actually a goal to remain the same. If you don’t have a long-term vision for your company, it is going to stay the same. What’s your endgame? What is the final result you want out of your business? When creating a vision statement for your company, think about why you started your business in the first place. You most likely started your business because you have a deep passion for doing something better or different than everyone else. By identifying your endgame beyond money or profit, which are simply the results of your business, you will be able to create smarter growth-oriented annual goals.

They are afraid of growth

Growth means change, which can be scary for many business owners. Fear paralyzes many people into inaction, where they simply continue with what they’ve always been doing. Fear stops many business owners from setting new goals in case they don’t achieve them… or in case they do. Success and failure are both a part of growth, and both can bring challenges to your company. By creating manageable goals with an action plan that lays out how to get there, you can grow smarter.

Join us for March’s 90-Day Planning Workshop on March 9th from 8:30 a.m. to noon at the Urbandale Chamber of Commerce. Membership to the chamber is not required. At this workshop, we will help you to create an action plan to reach your growth goals for the next 90 days. Click here to register.

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