Stop competing on price! Learn how to combat commoditization — exemplified by the Makino’s effect on the manufacturing industry.
Grow Your Business with Annual Company Goals, Part 2: Achieving Your Goals
In the first part of this series, we talked about setting your SMART goals. This article is all about making them happen. Measuring your progress and adjusting your timeline ensures that your goals are on track to success.
Measure progress and celebrate achievement.
It’s important for leaders to continue to support goals. Create a set of metrics that employees can look at each week to see whether they are on track. Post or upload these in a place where everyone can see the progress. Track how far you’ve come since the beginning of the year and show how far you have left to go. Are you on schedule, behind, or ahead? Be honest about your progress and have regular check-in meetings. Don’t wait until near the due date to signal that you are running behind.
Reward and encourage people when they are doing a great job and making progress. A reward doesn’t have to be financial – it can be a public acknowledgement on a Kudos Board or an in-person thank-you. A little appreciation goes a long way. It’s amazing how creating a culture of “thank-yous” can radically change your company progress.
Check in and adjust halfway down the road.
Kinesis always schedules a semi-annual strategic planning session with our clients. During this meeting, we look at the year-long SMART goals and assess progress to date. Typically, the goals are on track and may need minor revisions. Together, we look at metrics and team communication to see what’s working (WINS) and what’s not (STUCKS).
Sometimes, goals are achieved in the first two quarters. In that case, we acknowledge the success and then set new ones; we always maintain 5 high-level goals to keep the company accelerating quickly. In other situations, almost no progress has been made on certain goals. In this case, we examine and troubleshoot the initiative to determine the problem. We then brainstorm solutions and make revisions to the goal.
Avoid the Bright Shiny Objects.
Let’s face it: it can be exciting to follow the latest “bright shiny object” coming along and get off track. It’s fun to develop grand ideas and brainstorm new goals each month, letting those older goals languish. Don’t give in to the temptation!
The greatest reason that so many companies do not achieve their goals is because they lose sight of them. They get a bored with chip, chip, chipping away at their initiative. But, be assured that great success lies in sticking to the daily, boring inch-by-inch progress. It’s about measuring and adjusting our course in small increments.
Achieving your goals doesn't require brilliance or talent. It does, however, require determination and tenacity. Success means careful attention to the small details and nurturing the progress of your team. You can do it!