When strategy planning, most management teams do a very poor job of setting their business goals. Typically, they set business goals which measure nothing more than the basics, such as revenue or profit and in professional service firms, delivery or internal/external utilisation. Whilst these may show the scores on the doors, they offer no help in tracking how the business is really performing and certainly will not help you in growing your business.

The most successful companies however, set business goals which will show the true picture, no matter how painful. A classic example will be in an area such as business development. Do you really know how that area of your business is performing or are you reliant on sales meetings where your own tracking methods are reliant on the sometimes nebulous verbal conversations your sales force has had with prospects during the course of the last week or month?

Do you have a pipeline that tracks the prospects through from start to finish, do you set yourself targets for new accounts, are those targets accompanied by timelines? This can apply across the business from customer complaints to improving the quality of your products.

It is essential to follow a proper process when setting your objectives:

Most organisations will have a series of KPIs. Make sure these are relevant to your company and your business growth strategy. Take notice of what they are telling you. Do not disregard them as they are key to your business growth.

To discover how Incisive Edge will help you grow your business email growth@incisive-edge.com or call 0843 289 7884.