Successful companies set goals. Without them, they have no defined purpose and nothing to strive for; consequently, they stagnate and struggle for meaningful accomplishments. Goals are steppingstones to an end result. They must be present in every business plan and become a regular part of ongoing business operations.
A leader’s goals and those of their direct reports should be aligned with the organization’s goals. Whether a corporate, department, or individual goal, the goal should be measurable and time-bound.
A measurable goal specifically defines what is to be accomplished – the more specific, the better. The due date for the goal should be just as specific. “Reduce turnover next quarter” is not a good goal; “less than 10 avoidable ‘A’ player resignations between April 1st and June 30th” is a measurable, time-bound goal. Instead of “increase sales”, how about “distribution sales greater than $5 million by December 31st?”
Teams empowered with specific measurable, time-bound goals experience more success.