At the time of writing this How To Guide, we're heading to the end of the year. A time when we can review what has happened and how we want the next chapter to roll out. However, setting goals or developing a new plan can happen at any time.
It is assumed that goals are just about numbers. Sales goals, revenue dreams, profit margins. But what if we could make our goal setting much more strategic? What if we could develop multiple areas of our business to create a strategy that positively impacts our business?
This can be made simple by splitting our businesses into 3 main areas. By understand each of them well, then how they align together, it's possible to develop a new plan that incorporates all the essential areas of business that matter.
Product
Any business plan needs to include the product you're offering. When I say product, I mean, actual product ranges or services - what our business does is obviously key. Here are questions that you should consider when making goals around your product. Answer the questions really carefully to understand what happens next. Do your products need to be modified, elevated or evolved? Have you made people understand how valuable your product is? Do you need to grow the number of your products or reduce them? Once you understand more, develop a plan or set of goals around product.
What is the feedback of your products your currently offer? What do your customer really feel about what you offer?
Is your product really desirable? I.e. how much is your product really wanted or needed.
How does your product ease the 'pain points' of your ideal customer?
How does your product really add value to your customer or over and above your competitors.
Is your product sustainable?
Can you elevate your skills to improve your product?
Will your product still be wanted or needed in the coming 12 months?
How is the way you deliver your product working? E.g. Do you need to deliver more in person, improve packaging or all for online sales?
Have you got the pricing right of your product? Are you undervaluing the offer or can you realistically deliver enough of the product at the current price to make enough profit or revenue?
What are you saying about your product to your ideal customer? Do they understand or are they left in any duobt of the benefits?
Can you deliver enough of your product on your own or do you need help or a collaboration?
People
It's clear that people are the vital component of any business. Consider how your business is working for people, both inside and outside the business to help you develop plans or goals for the future. Considering the following questions will help you ponder on key elements of your business and develop goals and plans that matter.
Have you got the right people in or around your business to make your goals come true? Can you or people around you support the business enough to achieve your goals?
Have you got the right skills in the business. Consider both people you might employ or contract to do stuff for you as well as collaborations and skills swaps.
Are you regularly connecting with other people to ensure you're staying up to date, understanding your market better or learning new things?
How are you supporting the people in your business. This may well be you or other employees. Consider stress levels, creativity time, space to plan even!
Who are your ideal customers that will help you achieve your goals? Are you targeting the right people at the right time?
Who do you really want to work with or sell to? This might be to gain the best feedback but also to make micro business life a pleasure.
Are your ideal people aware enough about the products you're offering?
Are there people out there who don't know your business yet, that you'd like to attract? Who are they and how can you reach them?
Process
All businesses need good processes to make everything work well. Understanding and evelvating our processes can have a huge impact on our goals, plans and ability to make the future we really want. Consider the questions below to start to unlock new potential or opportunities in your business to develop goals and plans.
What processes are in place to make or create your products efficiently. This could be how you actually make a physical product or what systems you use to to develop services that really matter to customers.
How do you consistently assess customer feedback and reaction to your offer?
What processes are in place to ensure your website or online presence is always performing at its best?
Are your processes (how you do things) written down or in a plan so that others could help or so you can improve them?
How are you using digital technology to make marketing, sales or delivery more efficient or customer friendly?
Do you use any automation in your business from online responses self service booking systems?
Is there anything your customer can buy when you're not there. E.g. downloadable products, booking appointments, delivery from a partner business.
How do you manage the day to day finances in the business? Can you get help or use digital platforms that make it quicker or that work with all your other platforms.
How are you gathering customer emails for future marketing.
Where & how do you keep customer records? Is all the information in one place?
Do you have a system that measures your stock levels automatically?
Once you have answers (or more questions!) under the 3 headings of product, people & processes, then start to link them together to create maybe 3 key priorities for your coming 3-12 months. This way you'll know that your goals really will have the impact you want.
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