Setting goals as a small business is a great way to stay on track with your long-term vision for your business. Your business goals should always align with your overall vision and mission. This ensures that every objective you set contributes to the long-term success and values of your business. Here are 20 attainable goals you can use to grow your business this year.
1. Boost Revenue by 10%
Focus on strategies like increasing sales volume, enhancing pricing strategies, or cross-selling additional products to existing customers.
2. Launch One New Product or Service
Diversify your offerings in response to customer demands or fill a gap in the market.
3. Reduce Operational Costs
Analyze expenses, optimize processes, or shift to cost-effective suppliers.
4. Double Down on Customer Retention
Invest in loyalty programs or increase customer touchpoints through follow-up emails and calls.
5. Improve Profit Margins
Focus on financial planning, renegotiating contracts, and effectively managing inventory.
6. Expand Your Target Market
Research a new audience or demographic that could benefit from your products or services.
7. Post Consistently on Social Media
Increase your queue of curated and original content while maintaining a consistent posting schedule. Platforms like Instagram and TikTok could drive greater engagement.
8. Boost SEO Rankings
Commit to building a content strategy around high-volume keywords, improving your website speed, and earning more backlinks.
9. Reduce Response Times in Customer Support
Implement tools like chatbots or FAQs to provide faster answers.
10. Collect Customer Feedback Regularly
Create surveys or feedback forms after major purchases or interactions, using the insights to refine the customer experience.
11. Revamp Your Loyalty Program
Encourage repeat business with better perks, like free shipping or points-based incentives.
12. Automate Repetitive Tasks
Integrate tools like Zapier, Monday.com, or Hubspot to save time on data entry and task reminders.
13. Train Your Team on New Technologies
Stay ahead by ensuring staff members are trained in productivity-enhancing tools or software.
14. Improve Employee Retention
Engage your team with transparent communication, recognition for achievements, and opportunities for growth.
15. Create a Succession Plan
Prepare for the unexpected by documenting processes and identifying people who can lead if needed.
16. Form Strategic Partnerships
Collaborate with complementary businesses to broaden your reach and mutually benefit from shared audiences.
17. Support Local Events
Sponsor or host a community initiative to show your commitment to the local market.
18. Join an Industry Group or Chamber of Commerce
Build a network of professionals to share ideas, collaborate, and discover opportunities.
19. Clear 10% of Your Debt
Focus on paying off high-interest loans and reducing overall business liabilities.
20. Build a Business Emergency Fund
Save at least 3-6 months' worth of expenses to safeguard operations against unforeseen circumstances.
The most critical piece of advice for setting business goals? Take action!
Since 2005, Quikstone Capital Solutions has been a trusted advisor to thousands of merchants. Quikstone provides these merchants with easy, fast, and flexible working capital for all their business needs. If you need cash for your business, contact us today. We have only one goal: to help your business succeed.
