Without a goal, it is unlikely you’ll achieve it.
2nd in the Igniting Business Growth Series
Growth is one of the keys to financial health. But how much you grow sales or profits is heavily influenced by how high you set your sights. Few sports teams win a championship without rallying the team around that goal. Winning in business is no different.
When I was a young businessperson, upper management told us we had to cut manufacturing expenses by 25% to remain competitive and improve profitability. We all thought they had lost touch with reality! After many meetings we created plans that could cut costs 10% but we were still short of the goal. Then a light bulb went off. If we reduced our manufacturing processes from two to one, we could maintain production levels with less people in a smaller space. I learned that without a goal, we would have never cut costs by 10%, much less the 25% we attained. During my career I have witnessed this same lesson over and over again.
Setting a goal is the first step in achieving growth.
This is the second in Anavo’s 6-part series on Igniting Business Growth.