When leaving for their annual vacation, people often set goals: some want to read five books, others will not rest before they have cycled 1000 miles, and some want to visit all 500 churches in Rome. But when it comes to expanding a business internationally, only a few managers take the time to think seriously about what they want to achieve.
Experience learns that setting clear goals and having the right focus is a key differentiator between generating some sales or becoming a strong market leader.
Some tips for successful goal setting
Focus on what you want to achieve, not on how you will do it
Start with the end goal in mind and focus on the outcome. Opening an office in a new country can be an excellent way to achieve a goal but paying office rent is not the end goal.
Define challenging but achievable goals
Be ambitious but do not demand the impossible. It is about finding a balance between challenging and overwhelming your team.
Involve the complete team and adapt goals to every function
Everyone should understand the vision of growth and commit to it. While EDIBTA goals can make sense for the management team, the sales team needs something more actionable (sell x more by y).
Set milestones with short timeframes
Milestones and deadlines are what make most people switch to action. If your goals turn out to be unreasonable, the short timeframe will allow you to adjust quickly.
Adapt your goals in real-time
Keep your goals dynamic and evolving so you can answer to new opportunities, tackle unforeseen challenges, and adapt to new circumstances. Do not rest on your laurels once you reach your goals.
Strong goals will define your strategy. It requires preparation, time, and thought…something to think about while you are chilling on the beach.