The almost sudden economic recession sparked by the COVID-19 global pandemic and shutdown has adversely impacted businesses both large and small. Countless organisations were not anticipating the huge impact and ongoing onslaught of the global pandemic; hence, they have been forced to shut down or plunge into an uncertain future. Over 100,000 small businesses in the United States have been shuttered, and more are expected to follow suit. Businesses are having a challenging time navigating these changing circumstances. They are compelled to reinvent how they sell or connect with their existing and potential customers. Under these overwhelming circumstances, goal setting is of pivotal importance for all businesses, tiny businesses.
Goals can be a great way of staying focused and safeguarding your organization from becoming stagnant or getting shuttered. Determining the right business goals can help you forge ahead of the rest. It could be a great way of setting the stage for consistent growth and ongoing success. Business guru Adam Veron shares a list of business goals that could go a long way in transforming your business and taking it to the next level.
Goal: Focus on Minimising Ongoing Business Expenses
It is the right goal for all small businesses. All business owners are known to strive relentlessly towards a reduction of ongoing costs for running their businesses. While identifying this as your business goal in 2021, you need to be precise about ways you are planning to cut down costs. You may do so via cutting-edge technology, reducing debt, or modifying your operations to gain stability.
Goal: Adam Veron Recommends Boosting Productivity & Efficiency
The level of proficiency and productivity can help in impacting your bottom line directly. It is, therefore, a wise move to choose to boost productivity and overall job efficiency as one of the primary goals for 2021. You may boost productivity by sticking to your decision to eliminate all distractions from the workplace. This goal can be achieved by enhancing the way you have been leveraging business tools like email and by motivating your team to embrace the idea of using cutting-edge productivity apps.
Goal: Integrate Social Media Marketing
The present COVID-19 pandemic situation has proved to be the catalyst in accelerating social media adoption. Social media channels are regarded as the chief source of valuable data and information that surpasses print and many other digital media platforms. With self-isolation and social distancing, more people are relying on online shopping.
Make the right choice regarding the information or content to share and consider reassuring your customers and potential customers. You may plan meticulously while keeping the present situation in mind. Businesses should focus on staying relevant during this time. We know that social media marketing could be an affordable way of promoting your small business. The COVID-19 pandemic has compelled organizations to take a relook at their social media and digital marketing strategies, says Adam Veron.
Conclusion
Once you know and understand how to identify and set goals, it is high time you took a giant leap towards converting your business goals into SMART goals. Remember SMART goal is supposed to be a goal that boasts being Specific, Measurable, and Attainable, Relevant & Time-based.
