Tips to set your business goals for the new year

If you haven't already set your business goals for 2014, it is time to do so. Setting goals is important for any type of business. It provides you with a structured framework. Goals also help the company understand how it measures success, and whether it is meeting that standard. A business is likely to fail without clearly constructed business goals.

The goal of goals
Whether short or long-term, goals provide a clear understanding of what the company strives to accomplish. Setting short-term goals to reach related long-term goals is a key to success for most any business. Thinking of short-term goals as “stops along the way” to large goals can compartmentalize processes without losing sight of the big picture. Having goals gives everyday tasks more meaning and clarifies the reasoning behind company decisions.

Setting realistic and achievable goals helps a business in the following ways: