Put a Number On It: Quantifying Goals

Put a Number On It: Quantifying Goals

Leadership | Posted by YouInc.com - January 13, 2015 at 1:00 am
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Happy New Year!

Around this time most of us set goals for the year ahead. Entrepreneurs are no exception. In fact, we think any time is a good time to look up, reflect on the past and mindfully determine where to go next. Goals are good, and we encourage you to set them across the many aspects of your business.

When you attach a number to a plan it suddenly makes it a serious proposition.

Last year at this time I joined an online fitness challenge. The challenge was to do 2,014 pull ups in 2014. I loved the idea of working towards a concrete, measurable goal. As it happened, life and 40-something year old shoulders got in the way and I fell short of my goal—a little more than 700 short of my goal. Guess what? I wasn’t disappointed. I did 1,400 pull ups last year—who could feel bad about that? Having the hard goal in mind meant that I tacked the exercises onto the end of nearly every workout all year long. It added intention where there otherwise might not have been any. I’m positive that had I started out saying, “I want to do lots of pull ups this year” I would have done some, even many, but certainly not 1,400.

If you’re not in the habit of doing so, try quantifying your business goals for 2015. Consider the difference between saying, “I want to increase sales this year” and “I want a 15% increase in sales this year.” When you attach a number to a plan it suddenly makes it a serious proposition. It becomes actionable and requires that you actually do something to hit the number. Just about any aspect of your business can be quantified—you can cut costs, increase employee satisfaction or retention, get more customers, get more revenue per customer, etc. And here’s the thing, even if you miss, we’ll bet you’re still ahead.

Attaching a number to your goals means that you have something solid to work toward and keeps you constantly checking in on your progress. If you don’t quantify your objectives you will simply never know how well you did.

Whatever you’re working on for 2015, put a number on it—you won’t be sorry.

Tags: numbers, resolutions, leadership, goals, fix my biz, blog

Fix My Biz
Amy Ballon and Danielle Botterell frequently speak on the topic of entrepreneurship to the media, at seminars and conferences. Both women received MBAs from the Rotman School of Management at the University of Toronto. They founded Admiral Road Designs, which they sold in 2013 after more than 11 years. These days, the best friends continue to work together, advising other entrepreneurs via their business, Spark Consulting
Click here to read more articles from Fix My Biz.
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