Tips to successfully set business goals for 2022

With the new year approaching, it’s time to set your goals for 2022. Setting objectives for a new year is never easy, but we have some tips that will help you get through the process successfully.

Setting business goals is a process that typically takes place at this time of the year. Despite the importance of planning ahead, many entrepreneurs and business managers struggle with it and find it hard to stick to their objectives throughout the year.

If you are currently planning your business strategy for 2022, here is some tips on how to successfully set up goals:

Start by thinking about the Big Picture

Before starting to set short-term goals, you might want to ask yourself:

“what is my long-term business aim?”

By reflecting on where you want your company to be in 5-10 years, you’re defining your long-term business aim, which will be very helpful in the process of setting short-term goals. The objectives you define for next year must always be somewhat connected to your long-term business aim, so we invite you to think about how the 2022 goals you set are going to help your company achieve, in the long-term, its aim.

Stick to few but relevant goals

When setting your new year’s objectives, try not to overwhelm you and your employees with a never-ending list of business goals. When you have too many to focus on, it’s difficult to give attention to every single one of them.

That being said, if during the goal setting process you feel you might be setting up too many, you are probably right. So be careful and guarantee that every objective you set is relevant.

Make sure your goals are SMART

This is perhaps the most important factor for successfully setting business goals. You need to make sure that each objective you define has the 5 SMART characteristics.

Your goals need to be:

  • Specific, as you should not set generic or ambiguous goals that are not perceived the same way by every team member;

  • Measurable, as all your goals should be accompanied by trackable metrics in order to help you assess progress;

  • Achievable, as every goal you set should be realistic in order to motivate the team to accomplish it;

  • Relevant, as the setted goals should be connected to each other and to your long-term business aim;

  • Time-based, as you should define a deadline in which you expect your goals to be achieved.

Ask for opinions from employees and coworkers

You’re not alone! Don’t be afraid to ask for inputs from your employees and coworkers. In fact, asking them for help is a great way to get them involved in a process that concerns every member of the team. Being a valuable asset of the business, it makes total sense that they contribute to this process. It is also a great way to increase motivation in the workplace and make sure that the entire team is on the same page.

Monitor your progress

Last, but not least: don’t forget to monitor your progress throughout the year! It’s hard to reach your goals when you don’t keep track of your progress.

We advise you to schedule several meetings during the year in which you and your team can discuss the progress towards the achievement of the goals set in the beginning of 2022. That way, everyone will understand in which direction they should focus their efforts.

We hope 2022 is a fruitful year for your business! May these tips help you begin 2022 with your business priorities in mind.

Also read:Get to Know the Portuguese Entrepreneurship Ecosystem: MAZE