Setting business goals is an integral part of any company’s success. Unfortunately, far too many companies overlook the importance of setting both short-term and long-term goals. A recent Staples National Small Business Survey revealed a staggering 80% of all companies surveyed did not set goals. And only 77% of companies surveyed said they’ve achieved their goals. These numbers are a real eye-opener for anyone in the corporate field. Unless you want make the same mistake, you must set clear, achievable goals for your business.

Without goals, there’s no clear definition of what the company is trying to achieve. Goals serve as a roadmap so to speak by reminding employees and executives of the company’s aim. Workers who need a little guidance to get them back on track can refer to the list of goals. It’s a simple yet highly effective tool that no business should go without.

Short-Term Goals

Short-term goals can be something as simple as reaching a sales quota for the month. If your company’s line of work revolves around sales, then perhaps you can choose a goal for your employees to strive for. Instead of becoming complacent with sales numbers, they’ll continue to push themselves in hopes of reaching these newly created goals.

If your company reaches these short-term goals, you should consider rewarding everyone involved. Even if it’s just a company-funded lunch, rewarding your employees will give them the drive and encouragement to push themselves in the future. Another option is to give your employees personalized trophies or plaque awards for reaching the short-term goals.

Long-Term Goals

So, what are some good long-term goals to set for your business? It really depends on your business and line of work. With that said, some companies may set a long-term goal for expanding out into a national name, while others may set a long-term goal setting up a new factory on the opposite coast. Ask yourself what needs to be done in order for your business to truly succeed, and then base your long-term goal around it.

Don’t be afraid to modify your company’s goals as you see fit. If your company begins shift into a different direction, then you may need to make some changes on its goals. This is perfectly fine and even encouraged, as it will ultimately benefit the company. Just remember to keep your goals achievable so employees will feel like they have a real shot at reaching them.