Operations

Setting Goals for the New Year Will Make It a Productive and Profitable One

Posted on January 1, 2008 by LCT Staff - Also by this author

We’re on our way into another year. As the clock struck midnight, you probably made some resolutions. These resolutions are not to be confused with goals.

Quite simply, goal is defined as the end toward which effort is directed, as on a football field. A resolution is the act of determining. You may determine you need to lose weight. Without goals, success is unlikely. Two of the biggest reasons people fail to meet goals are that they set unrealistic ones and fail to have benchmarks in place to recognize when those goals are on or off track. Now is a good time to set goals.

Goals can consist of minor or major undertakings. They should be based on the issues facing you and your personal achievement and dreams. Remember, life is ever-changing and goals may sometimes need adjusting to face current conditions. Success is not something you stumble upon. It is something you work for by planning and achieving goals.

LET’S PLAN First off, separate your business and personal life, setting goals for each. As you know, the livery industry is unlike most jobs. It becomes a lifestyle that is usually all-consuming.

Although it may be difficult, you will have to concentrate on keeping your business goals from interfering with your personal goals. Personal goals can include losing weight, giving up bad habits, improving your financial picture, taking more vacation time, buying a new RV… the list is endless. Dream up what you want. Write it down. Take your time, because this is going to become your master plan for 2008.

Business goals can include increasing the size of your fleet, increasing sales, making fewer mistakes, or improving your marketing plans. Again, dream about where you see your business at the end of the year — How many employees will you have? How many vehicles will you have? Anything is possible. Devote a few days to creating your list of goals. Remember to always write your goals down as you think about them. Don’t trust yourself to remember to write them down later.

6 STEPS TO REACH YOUR GOALS

1. VISUALIZE IT Post your written goals somewhere that you can see every day. Place a check box next to each goal. If your goal is to add two new cars, tape a photo of two new cars on your goal list. If your goal is more vacation time, find a photo of that perfect destination and tape it to the list. The constant exposure and visual impact of your written list is important to achieving your goals.

2. COMMUNICATE GOALS Business goals require members of your team to clearly know what your goals are and the plans for achieving them. Goals may require that members of your team participate in meeting them. Managers can be delegated with smaller goals designed to help you meet the larger ones. It will take dedication and determination to succeed in achieving goals. Everyone must be on board.

3. BACK IT UP If you plan to add two new cars, start a savings account for the down payment on each. Set a specific date for the purchase of each car during the year. Decide how much to save each week to acquire the needed down payments. Add another $25 each week above your calculation.

4. BENCHMARKS Write the planned purchase date for each car on your goal list photo. Use one of those many complimentary calendars you just received to write the projected dollar amount in savings each Monday. As long as you follow your plan, each Monday will have an increased balance. If you fall behind in a payment to the savings account, double up when you can to stay on track.

5. ADJUST IT If you realize that circumstances cause you to fall behind, you may have to move the first purchase back a few months. Don’t abandon your goal altogether! As long as you continue to make the weekly savings account payments, you will soon be back on track to achieve the goal.

6. ACHIEVEMENT When the date arrives that your goal is met, there should be a celebration and reward for your dedication and determination. I previously mentioned adding an extra $25 to each weekly savings deposit. Once you have succeeded, you will now find that you have extra money for that weekend get-away as a reward to yourself.

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