Goal setting for 2025
Posted on 16th September 2024 at 16:28
As we get to near to Christmas it is a good time to reflect on the year 2024 and whether you achieved what you were hoping to with your business.
If you set goals for your business at the start of 2024 then now is a good time to sit back and have a serious look at what you achieved and what you still need to action so you can create a solid plan for 2025. With a change of government and some likely tax increases on the horizon it will pay well to do some planning and to put a few timescales in place so you can measure progress through the year.
So you can make your planning really effective it is worthwhile having a plan of what you want to achieve written down. If it's all in your head it's easy to forget and lose focus, but having it written down will help you hold yourself accountable and achieve more than you otherwise might.
Often people have great intentions and set goals but don’t look at them again, and they certainly don’t measure performance against them. The power of measuring regularly against your goals and making sure you are on track means you’ll be able to turn things around if they aren’t going the way you want them to. It provides you the opportunity to get back on track in real time, rather than being disappointed at the year end.
If you want some help goal setting then read on for some top tips.
Top tips for goal setting
Set aside enough time to work through the things that really matter to you, and that will give you the results you want. The key here is not to feel as though you need to reign in your thinking – dream big. These are your goals so think about what you really want and write it down.
Decide what you want personally, as this will determine how you move your business forward. If one of your goals is to work less hours and spend more time with your family, perhaps a business goal would be to automate some of the day to day admin you get bogged down in.
Decide how you are going to measure results, and how often. Goals are only useful if you revisit them often and remind yourself what it is you want to get out of this year. For example, if one of your goals is to earn more in 2025 and you don’t review your numbers regularly how will you know whether you can afford to increase your dividends?
Review your goals regularly, at least once a quarter and book out some time in your diary to do it properly. By reviewing quarterly you can see if you are on course or whether you need to tweak a few things to get back on the right track.
Be specific about what you want to achieve, whether that is hitting a specific profit figure, or working less hours. If you are specific about something then you’re more likely to work towards it.
Getting your goals set up for 2025 now means you’ll be ready to hit the ground running in January and make that your best year yet. If you need help setting budgets or reviewing your plans then get in touch with one of the team and we'll be happy to support you.
Tagged as: business planning, Goal setting
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