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Last Updated on June 2, 2020

10 Simple Yet Powerful Business Goals to Set This Year

10 Simple Yet Powerful Business Goals to Set This Year

We often times think of goal setting as something done when we first start a business or a new job. But the reality is, we need to be regularly setting new goals as well as monitoring the progress of past goals.

I personally like to assess and establish business goals during the first quarter of the new year. This allows for both you and your employees to have a clear understanding of what the expectations are over the coming year.

When deciding on what goals you will have for the year, don’t get bogged down in the minutia of figuring out every last detail of how you plan to get there. This is big picture stuff, your vision for what the organization should look like in a year.

This long term goal setting will serve as an overall framework for your short term planning. That short term planning is where you will lay out the individual steps necessary for achieving the goals.

That’s a long winded way of saying that you first need to figure out where you want to go before you plan the trip.

While no one list could apply to all businesses or all situations, these 10 goals have been a part of every successful business that I’ve been involved in.

1. Maintain a Healthy Budget

This trips up a lot of entrepreneurs. I’ve seen so many people start businesses without a financial plan.

Academics have coined a new technical term for this type of financial plan, they are calling it a “budget”. And if you don’t have one, then that’s your number one goal for the year.

Having a budget not only helps with tracking where your money is being spent, but it also allows your to analyze things like what type of advertising is working best for you.

How do your payroll expenses compare to the industry average? Are you spending too much or too little in commissions and bonuses? And God help you if you decide you need to get funding.

Going anywhere for funding (Bank, Investors, VC firms) without a professional budget will get you booted out of the office without a second look.

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2. Hire a Certain Number of Employees

If you don’t have any employees, maybe now is the time to consider hiring some. Trying to do everything yourself is the curse of the entrepreneur. We all try being the “Jack of all trades”, but we forget the rest of that saying, “but master of none”.

You can start by hiring someone to do all of the little tasks that have to get done but don’t contribute to the bottom line. These tasks take your attention away from growing the business.

One caveat here, don’t put anyone else in charge of marketing! You should always do the marketing and be the face of your business. Turning that part over to someone else is just asking for trouble.

3. Reduce Expenses

Running a lean business should be the goal of every entrepreneur. After all, every dollar saved in business expense is an extra dollar in your pocket. The problems arise when you begin to cut into areas that affect the bottom line.

For example, it’s always tempting to look at payroll first because it’s such a big expense in most businesses. But will cutting sales staff hurt sales? What about the shipping department or customer care? You might not feel the effects of those cuts right away, but if your not giving the customer the experience they expect, you will feel it down the road.

Try looking for other ways to reduce expenses. Try new software, change the implementation of your processes, and most of all, reduce debt!

4. Refocus on Your Customer

You should always be re-evaluating your relationship with your customer. You need to know what areas are working right and what areas need improvement.

Look at the entire customer experience. Are your customers happy with the product or service? Is your refund / exchange process easy to understand and use? If they have questions or need help is it easily accessible? Are you delivering your products in a timely manner?

No matter how good you currently are, vow to make the customer experience even better.

5. Get More Traffic to Your Website

There is never a reason you shouldn’t want more traffic going to your website. Even if you’re not generating sales from a website, increasing traffic is great for brand awareness.

If you haven’t updated your website in a while, now’s the time. Make sure it’s pleasing to the eye with all the latest information and helpful hints.

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6. Evaluate and Refine Your Social Media Marketing

This dove-tails nicely with the previous suggestion. Social media marketing, when done right, will generate traffic, leads and sales for your company.

Notice I said “when done right”. I see a lot of companies (especially smaller ones) using a shotgun approach to their social media marketing. They end up throwing a bunch of stuff up on their Facebook, Twitter or Instagram and hope that something works.

You need to have a strategy for social media. Your posts need to be consistent and on-message. It can be a lot to handle all at once. If you are not sure what you are doing, there are companies and individuals that will set up and manage your social media marketing for you.

7. Conduct a Marketing Audit

Marketing along with payroll and rent are the biggest expenses most businesses have. You want to make sure you are getting the most bang for your marketing buck.

Analyze and evaluate every aspect of your marketing budget. Eliminate the worst performing (in terms of ROI) 20% of your marketing effort’s and use that money to expand your top 10% of your best performing assets.

8. Develop or Improve Your Employee Incentive Program

Your employees are the lifeblood of your business. Employees are the ones implementing the company’s policies and procedures. They are (usually) the ones interacting directly with the customer.

Keeping happy and motivated employees is the only way your business can thrive. Unfortunately, too many small businesses neglect this issue because of the perceived expense involved.

And while money is certainly a motivating factor for your employees, most people will respond to other types of incentives as well. Things like public recognition, lunch with the boss, flexible time off can all be used as incentives. Check out this article for 17 Proven Tactics for Motivating Employees.

9. Evaluate Your Company’s Mission Statement

This should be done on a yearly basis. Depending on how long your company has been around you may have not have even looked at your mission statement in years (if you even have one)!

Take the time to get it out, dust it off and make sure that it’s still relevant. I’ve consulted with companies that, when asked to do this, discover that the original mission statement described a completely different organization!

Over the course of years, as the business climate evolves and technology changes, there’s a good chance that your mission statement needs to be updated. If you want to know why a mission statement is important, see this article: How to Write a Powerful Mission Statement for Your Business

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10. Strive to Create a Better “Work Life Balance”

Being a successful entrepreneur means making sacrifices. You sacrifice the stability of a regular paycheck, time with your family, sleep and more, and while the rewards can be great, just make sure the costs aren’t too high.

Things like stress and anxiety will take a toll on your physical and mental health. Time away from spouses and family can cause tension that only adds to the stress level. You need to take evasive action before it can cause irreparable damage. If your not eating right and exercising start taking an hour out of your day. That hour won’t kill you but a heart attack will.

Carve out “family time” whether it’s one day a week, or an hour a night, your family needs to know that they are a priority. Have a scheduled “date night” with your spouse. Chances are you’re not the greatest company after working a 12-14 hour day, and making your spouse a priority is just part of the deal.

Making a conscious decision to prioritize your home life is like brushing your teeth. If you do it, they stay strong and healthy, if you ignore it, they go away. See these tips for maintaining a good work life balance: 13 Work Life Balance Tips for a Happy and Productive Life

Bonus Tip: Set S.M.A.R.T. Business Goals

When setting goals, we always recommend using the S.M.A.R.T. technique as it’s a very efficient way to both communicate and monitor your organization’s progress in achieving the goals you set. S.M.A.R.T. goal setting stands for:

Specific

What exactly do you want to achieve? The more precise you can be, the better. When answering this, ask yourself the following questions:

  • What is the end goal?
  • How will achieving that goal translate into higher profits, increased market share, a better customer experience?
  • What resources will it take to achieve the goal? Money, Staff, Time, Training.
  • What is the specific number (or percent) that I want to increase sales, market share, profit, productivity?

Measurable

You should be able to break down your goals into individual steps or milestones that are easily qualified. There should be a way to concretely measure the success or failure of the goal.

  • Goal – Increase sales in Q-2 by 10%
  • Goal – Decrease year end expenses by 5%
  • Goal – All employees will have completed training in “X” by June 30th

Attainable

Having unrealistic or unattainable goals is just setting yourself and your employees up for failure. Now, if you are a one person operation, then by all means go ahead and set a goal to double last years sales. If you only increase sales 1.5 times, that’s still pretty good.

But putting unrealistic expectations on employees will only do one of two things. Either it will crush morale when goals can’t be met, or if you do this too often, your employees won’t take you seriously.

So think twice about setting a goal to double sales every month for a year.

Relevant

Is the goal something that you really want? Will attaining the goal actually help your business? Is it really a good idea to double your business if you’re already struggling to service the clients you have, or would you be actually hurting the business?

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And don’t forget about your personal life. Will attaining a goal mean more time away from family? Are your relationships already strained?

Know what’s important to your life as a whole.

Timely

Deadlines are important to motivation. I know from experience that if I’m not under a deadline to get something done, then I’m just going put it off as long as I can.

Setting deadlines solidifies the goal, after all, a goal without a deadline is just a wish.

Setting deadlines is really the only way to measure the success or failure of a goal. With that being said, deadlines must be reasonable otherwise you’ll run into the same problems we see when goals are not attainable.

The Bottom Line

Setting, evaluating and reassessing goals is a constant theme in business. Knowing the right places to allocate the right resources will keep your business thriving in an ever changing world.

Lou Holtz, the famous football player and coach said

“In this world, you’re either growing or you’re dying, so get in motion and grow.”

That statement is certainly true in today’s business climate. You need to be constantly on your toes looking for new and better ways of doing things.

Technology is moving a light speed, bringing new, better and faster ways to deliver products and services to the consumer. If you’re not innovating, you can be sure your competition is.

More Practical Tips for Entrepreneurs

Featured photo credit: Ruthson Zimmerman via unsplash.com

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David Carpenter

Lifelong entrepreneur and business owner helping others to realize the American Dream of business ownership

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Published on August 4, 2020

36 Important Resume Skills (For All Types of Jobs)

36 Important Resume Skills (For All Types of Jobs)

Most jobs require specialized skills. At the same time, there are a lot of resume skills that apply across the board.

If you’re on the hunt for a new job, give your resume a refresh. Employers want to know: Can you communicate effectively? Are you easy to get along with? Can you manage your time effectively?

Remember, you may not get a second look. Use your resume to make a great first impression.

Holistic ability is what employers want to see when hiring. These resume skills can make you a top pick regardless of what role you’re applying for.

Communication

Being properly understood is critical. On any team, you must be able to relay and interpret messages with speed and precision. How you describe yourself, the concision of your phrasings, and the layout of your resume are great ways to showcase these skills.

1. Writing

Whether it’s emails or official documents, writing skills are essential for candidates in any industry. Clear, concise phrasings minimize misunderstandings and save the recipient time. This is probably one of the most important resume skills.

2. Verbal Communication

Speaking clearly and eloquently is one of the first things a hiring manager will note in an interview. Communicating over the phone is commonplace in business. Outline this skill on your resume, and they’ll invite you in to listen for themselves. This is easily one of the most important resume skills in most industries.

3. Presentation

Sales pitches and company meetings may include presentations, which require special communication skills. Being able to spearhead and properly carry out a presentation shows organization and resolve.

4. Multilingualism

Knowing more than one language can open doors for you and the business you represent.[1] Being able to speak another language allows your company to serve a whole new demographic.

5. Reading Comprehension

At any job, employee handbooks, company newsletters, and emails will come your way. Being able to decipher them quickly and effectively is an important resume skill. This goes hand in hand with having excellent writing skills.

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Tech Savvy

Technology is evolving rapidly, especially in the business world. Be sure to mention the technologies you’re familiar with on your resume, even if you don’t expect to use them daily.

6. Social Media

Almost everyone has some form of social media these days. Companies use platforms like LinkedIn and Facebook to reach new audiences, provide customer service, and build brand loyalty.

7. Operating Systems

Can you use a Mac? What about a PC? Most jobs today require the use of a computer. Prior experience navigating common operating systems will help you acclimate much more quickly. This has become an important resume skill ever since the start of the information age.

8. Microsoft Office

Of all the software in the world, Microsoft’s Office suite might be the most popular. Word, Excel, Powerpoint, and Outlook are widely used in the business world. Having this as part of your resume skills is very helpful especially in certain industries.

9. Job-Specific Programs

Did you get the hang of HubSpot in your last role? Is Slack something you’ve mastered? Be sure to mention them on your list of resume skills. These demonstrate that you can pick up new tools quickly.

Interpersonal Skills

Despite the rise in technology, businesses are run by people. Working with and for people means you need to be able to handle yourself with poise in different social settings. Highlight roles and situations on your resume that involved tricky conversations.

10. Customer Service

No company can succeed without its customers. Being able to treat customers with respect and attention is an absolute must for any applicant. Specific industries regard this as the most important resume skill their prospective employees should have.

11. Active Listening

Listening is an underrated skill, especially for leaders.[2] If you can’t listen to other people, you’ll struggle to work as part of a team.

12. Sense of Humor

You might wonder why having a sense of humor is a part of your resume skills. Humor is important for building rapport, but getting it right in the workplace can be tough. Everyone loves someone who is entertaining and can lighten the mood. On the other hand, people are turned off by immaturity and inappropriate jokes.

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13. Conflict Resolution

A customer stomps up to your desk and starts yelling about a problem he or she is having – how do you handle this situation? The right approach is to work to resolve the situation, not to escalate or avoid it.

Teamwork

One of the best parts of any job is the bonds you build with your co-workers. Fostering healthy relationships can make the workspace more enjoyable for everyone.

14. Collaboration

Whatever your line of work, chances are good that you’ll be working with others. Being able to collaborate effectively with them is critical if the whole team is to hit its goals. You can use various apps and tools available to help you collaborate with your team.

15. Leadership

Even if the title of the job you’re applying to isn’t “manager” or “executive,” there will still be moments when it’s your turn to lead. Prove that you’re up to the challenge, and you’ll be looked at as a long-term asset. Listing this as one of your resume skills is certainly an eye-catcher for most.

16. Reliability

Work isn’t always easy or fun. You have to be willing to pull your weight, even when times are hard. Otherwise, your co-workers won’t feel as if they can count on you. Reliability is important in maintaining the cohesion of a team. You should let people know that they can rely on you.

17. Transparency

To work as a team, members must be willing to share information with each other. Are you willing to own up to your mistakes, share your challenges, and accept consequences like an adult? Let them know that you’re transparent and reliable.

Personal Traits

Your resume is about selling yourself, not just your education and work history. The good news is, your “soft” skills are a great opportunity to differentiate yourself. Use bullets beneath your past experiences to prove you have them.

18. Adaptability

In any role, you’ll need to adjust to new procedures, rules, and work environments. Remember, these are always subject to change. Being able to adapt ensures every transition goes smoothly.

19. Proactivity

An autonomous employee can get work done without being instructed every step of the way. Orientation is one thing; taking on challenges of your own accord is another. Being proactive is an essential resume skill, especially if you’re eyeing for managerial roles in the future.

20. Problem-Solving

When problems arise, can you come up with appropriate solutions? Being able to address your own problems makes your manager’s life easier and minimizes micro-management. Problem-solving is an important yet often overlooked resume skill.

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21. Creativity

Can you think outside of the box? Even roles that aren’t “creative,” strictly speaking, require creative thinking. Creativity also helps in your ability to solve problems.

22. Organization

Staying organized makes you more efficient and reduces the risk of mistakes. Organization skills make life easier not just for you, but also for other members of your team. This makes it an important skill to put in your list of resume skills.

23. Work Ethic

Every company wants hard workers on its team. You’re applying for employment after all, not a place to lounge around. Putting this on your list of resume skills is just as important as actually exhibiting it in the workplace once you’re hired.

24. Stress Management

How well do you work under stress? If you’ll be required to meet tight deadlines, you’ll have to prove you can handle the heat.

25. Attention Management

Whether you’re developing a partnership or writing a blog post, attention to detail makes all the difference. People who sweat the details do better work and tend to spot problems before they arise. Use Maura Thomas’s 4 Quadrants of Attention Management as a guide to managing attention.[3]

26. Time Management

Time is money. The better you are at using company time, the more valuable you’ll be. Show that you can make every second count. Managing your time also means being punctual. No employer wants to deal with a team member who’s constantly tardy. This is commonly included in most people’s resume skills, but not everyone lives up to it.

27. Patience

Things won’t always go your way. Can you calmly work through tough situations? If not, you’ll struggle with everything from sales to customer service to engineering.

28. Gratitude

When things do go your way, are you gracious? Simply being grateful can help you build real relationships.[4] This also helps foster a better team atmosphere.

29. Learning

Employers want to invest in people who are looking to grow. Whether you love to take online courses, read, or experiment with hobbies, make sure you show you’re willing to try new things.

30. Physical Capability

Many job postings have the classic line, “must be able to lift X amount of pounds” or “must be able to stand for X hours per day.” Play up past positions that required you to do physical labor.

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31. Research

How easily can you dig up new details about a concept? Research skills are critical for marketing, business analysis, writing, account management, and more.

32. Money Handling

Being able to count bills quickly and accurately is important at any company with a brick-and-mortar storefront. Integrity and honesty are key when you’re running the cash register or reconciling bank statements.

Commitment

To employers, every new hire represents an investment. Are you worth investing in? Prove it. Employers need to see signs of commitment before they bring you on board.

33. Longevity

Hiring managers love to see long tenures on your resume. This suggests that you’re in it for the long haul, not just passing through for a quick buck.

34. Fidelity

For an employer-employee relationship to work, there has to be trust. Employers tend to find out when someone is hiding side gig or sharing information they shouldn’t be. References from past employers can prove that you’re loyal to companies that hire you.

35. Obedience

You won’t agree with every choice your employer makes. With that said, you have to respect your role as an employee. Obedience is about doing what your leader decides is best, even if you have a different perspective.

36. Flexibility

Life is full of surprises. A month into your new job, your role could change entirely. Flexible people can roll with the punches.

Final Words

Perform a self-audit: Which of these skills will your potential employer want to see? Add them to your resume strategically, and you’ll be that much closer to your dream job.

Tips on How to Create a Great Resume

Featured photo credit: Van Tay Media via unsplash.com

Reference

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