Why Wait For the New Year When Studies Show Results Like These?

Studies have shown that businesses that set sales goals every quarter see 31 percent greater returns than those who stick to annual goal setting. So why wait for the new year…grab your team (or yourself if you’re a solopreneur) and get started now.

So many factors come into play when you’re setting sales goals. They should be data-driven, realistic, challenging and yet attainable. And they can be around anything—becoming more profitable, increasing sales activities, upselling and cross-selling, retaining existing customers and acquiring new ones.

Here’s some food for thought as you go about setting yours this month:

Look at where you were last year: To grow, you have to perform better than you did last year or last quarter. What did your past performance look like?

Visualize where you want to be: Visualize where you want to be by the end of the quarter or the year. What goals will help you get there?

Understand where you are: Look around at your current strategy, resources and clients. What needs to change to get you to that place you visualized?

Be SMART with your goals: They should be Specific, Measurable, Attainable, Relevant and Time-Bound (SMART). Do all your goals have these five characteristics?

Set company-wide and individual goals: Create goals for the company as well as for individuals. How are individuals contributing to your overall goals? Can you capitalize on their unique strengths?

Consider activity and stretch goals too: You know phone calls, lunches, networking events, etc. lead to results. How can you include these activities in your goal setting? Also, what stretch goals can you set for when you exceed goals?

Break them down: Big goals can feel…well, big! How can you break them down into smaller “chunks” to make them feel more doable?

Provide resources to get there: People can only achieve their goals when they have the resources they need. Do they need additional training, mentoring, technology tools, etc.?

Recognize and reward your people: Some people are naturally motivated by goals, and others need a little incentive. How can you recognize or reward them?

Review and adjust: From time to time, review progress with your team and make any adjustments if you see anyone falling behind. Are there any additional resources they need?

Celebrate: One of the best parts of meeting goals is pausing to celebrate your achievements. Can you celebrate with a special team lunch or fun outing before setting new goals?