Planning for Profitable Growth – What will your success look like?

Goal setting and measurement provide accountability for your mission and vision. Goals help you to visualize what your success will look like as well as providing signposts along the way.[i]

The best goals are:

1. Relevant to your mission and vision
2. Achievable with effort
3. Measurable

Here are a few examples:

• A retail distributor energized its management team by setting and pursuing goals to match the quarterly and annual sales growth rates of its largest competitor. Achievement of the goals led to a successful initial public offering (IPO) of the company’s stock.

• An information technology professional services company expanded its market share by establishing specific sales goals for a new product line supported with resource allocations and targeted bonus plans.

• The vice president of a distribution center reduced lost time accidents and improved labor productivity by setting specific targets for improvement and reinforcing them with group incentive bonus opportunities. As targets were reached, the staff celebrated with progress meetings at which bonus payments were distributed.

Goals are like torches in the dark – they light the way.