A goal-setting guide for small businesses

For small businesses, goal setting can feel like navigating a balancing act. Ambition is vital, but finding the sweet spot between reaching for the stars and staying grounded is key to sustainable success. Here are our favourite tips and techniques to help founders set ambitious goals that inspire progress without overwhelming you and your business.

Keep your goals attainable

Setting goals that are both ambitious and realistic is essential for driving progress in your business. While ambition is commendable, overly ambitious goals can backfire and demoralise you and / or team. Objectives should stretch your capabilities without setting you up for failure.

If you have a team, engage them in the goal-setting process to ensure alignment and motivation. They’ll be more empowered, engaged and active. 

Break it down

To make goals feel achievable, we prefer to break down objectives into manageable chunks for better traction and momentum. So instead of setting a one year goal, set a quarterly goal. This also helps you ensure that your goals are realistic and achievable within the resources and time available. 

Keep it personal

Avoid getting swayed by competitor activities or achievements and instead focus on what truly matters to you and your business growth. Set goals that align with your vision and address genuine needs within your team and operations.

Set metrics

How will you know if you’re achieving your goals? From the start, establish clear metrics to measure your progress towards each goal, and a system for tracking it regularly. You don’t need a lot of metrics – a few key ones will be manageable and achievable. Make sure your tracking system is something you can keep up with.

Finding the balance between ambition and attainability is key to sustained growth and success. By keeping your goals realistic, involving your team in the process, and aligning with your personal ambitions, you can set your business on a path of focused progress, guiding you towards a thriving and balanced entrepreneurial journey.

To get some help setting goals, talk to a Digital Boost business mentor – they can share their experience, help you evaluate potential objectives and define how to measure them. .