Business Growth

Is your business set for growth and efficiency?

Posted on September 26th, 2014

Categories: Business, Management, People Management

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In business, strategy and growth go hand in hand. You create a game plan to achieve your goals and a timeline for the achievement of those goals. Meetings, calls, investment and planning come together to make your goals attainable. All this leads to business growth.

For smaller and medium sized businesses (SMEs), it is critical to ensure that every activity that is taking place at your company is focused on achieving a specific goal for your business. It is important for that goal to be measurable. Your goals could include increasing sales by a certain amount or percentage over a period of time; increasing turnover; reducing staff turnover or achieving a target number of goods produced, for example.

It is important for your company to ensure that all your resources are carefully aligned to help achieve your business goals. This means that all your staff should know their work purpose at all times and how their work helps achieve the company’s goals.

This is all about achieving operational efficiency in a company. To do this, you need to define your specific goals and clearly document them. Your goals should be quantifiable and therefore, measurable. Everyone in your team should clearly understand their position and how they contribute to the company’s goals. After all, the work of each individual employee makes up for the entire company’s workflow. This is important for the growth of your business.

A specific objective should be attached to a list of the tasks required to achieve that particular goal. It is important that you define the relationships between the tasks people are doing and the goal those tasks support. Remember, the workload of an individual impact on the company’s workflow and timelines. Connecting the workload of your people to the overall business goals helps your staff to feel productive and valued. It also makes your goals more visible and achievable.

You need some way of tracking progress so that you can see where your company stands at any point in time and the balance of what still needs to be done, to achieve a particular goal. Annual goals can be broken down into quarterly goals. Quarterly objectives allow enough time to track, monitor and measure business progress and performance. It gives adequate time to deal with any issues before the next quarter so that things are quickly put back on track.

The goals need to be communicated to everyone in your business. Staff are more motivated and fulfilled when they can see where they stand against your company goals. A sports team always knows what the score is; your team should too.

You can allocate your resources more effectively and efficiently if you define your goals, communicate them to your team throughout your company and ensure that goals are attached to workloads. It means that the resources in your company are set up in the best way to drive your business forward, in its planned direction, to achieve your company’s aims.

We can help you to ensure your business goals are set in a way to make a positive contribution to your company. Talk to us. Get in touch today to find out how Ascend Twentyone can help your business.

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