Four New Business Goals to Consider in 2018

  • Written by James Daniels for Costa Women

    Drawing up plans for what you want your business to achieve during the year ahead provides an easy way of gauging your progress as the months go by. However, to make the most of such a system, it’s crucial to choose the right goals and set them out in a way that provides maximum benefit to both you and your business.

     

    Look back to look forward

     

    The ambitious goals you set at the beginning of 2018 were a great way to make sure you and your team begin the year with a bucket load of motivation. However, did you take the time to look back over the previous year and ensure you incorporated all the lessons you learned into your plans for the current year?

    One of the best ways to make sure your goals are achievable and relevant to the current market is to look back and see how your previous plans and goals played out. If you easily met all your goals, did you aim high enough? If many of your goals fell by the wayside, are there issues within the company preventing you from making progress? Only by taking stock of what has gone before can you ensure you are on the right track heading forward.

     

    Reach out to new audiences

     

    Changing demographics and the influx of new technology mean the profile of the typical consumer is likely to undergo dramatic changes in the next few years. If you want to be sure your business can continue to thrive, you need to be able to adjust your practices to meet the needs of a changing marketplace.

    Either set up a research and development team of your own or hire a consultant to do the work for you, but make sure you know exactly who your current customers are and who they are likely to be in five, ten and twenty years’ time. The more you know about your target audience, the easier it will be for you to develop new products and services that they will want to buy.

     

    Upgrade your tech

     

    It's understandable to put maximizing your profits near the top of your list of business goals for the coming year, but don't let yourself fall into the trap of thinking that hanging on to old technology or equipment will save you money.

    Working with systems that don't properly integrate with one another or with the cloud, using machinery that suffers with reliability issues - even using old items of office furniture can also reduce the level of productivity within your office. If you work on an SAP platform, consider taking your business to the next level of digital transformation through the use of a platform such as Omnia, available from weaveability.com, which can bring all your systems together in perfect harmony.

     

    Stay open to fresh ideas

     

    Just because something has always been done the same way does not mean it is being done in the most effective or efficient way possible. By regularly taking stock of all the processes and procedures that make up the day-to-day business of your enterprise, you can reduce the chances of falling into a rut.

    It’s unreasonable for anyone to expect you to have all the ideas and solutions – no matter how talented you may be. Let staff at every level know that you are interested in hearing any ideas they have. This will empower them to have the confidence to come forward and share their insights.

     

    James Daniels is a freelance writer, business enthusiast, a bit of a tech buff, and an overall geek. He is also an avid reader, who can while away hours reading and knowing about the latest gadgets and tech, whilst offering views and opinions on these topics.