The Importance of Having Business Growth Objectives

The Importance of Having Business Growth Objectives

The Importance of Having Business Growth Objectives

Growing a business is hard work. It can be difficult to know where to start, or even where to turn, when things aren't going as planned. That's why it's so important to have clear strategy for your business growth objectives. Without objectives, you won't be able to measure your progress or track your success.

Business growth objectives should be specific, measurable, achievable, relevant, and time-bound. In other words, they should be SMART goals. Let's take a look at a few examples of SMART business growth objectives. 

Generate X New Leads Per Month

A common business growth objective is to generate new leads. lead generation can be achieved through a number of activities, such as advertising, public relations, content marketing, and search engine optimisation. In order to make this objective SMART, you'll need to specify how many new leads you want to generate per month. For example, your goal could be to generate 50 new leads per month through content marketing efforts.

Double Website Traffic in 6 Months

If you want to increase the amount of traffic your website receives, you'll need to set a goal for how much traffic you want to generate in a certain period of time. A good way to measure this is by looking at unique visitors or pageviews. So, if your website currently receives 1,000 unique visitors per month, your goal could be to increase that number to 2,000 unique visitors in the next 6 months.

Reach X New Customers Per Month

Acquiring new customers is essential for business growth. If you're not constantly bringing in new customers, your business will stagnate and eventually die off. In order to make this objective SMART, you'll need to specify how many new customers you want to reach per month. For example, if you sell products online, your goal could be to acquire 50 new customers per month through your website or other online channels.

Increase Sales By X Percent in the Next Quarter

If increasing sales is one of your business growth objectives—and it should be—then you'll need to set a goal for how much you want sales to grow by in a specific period of time. For example, let's say that your company generated £100,000 in sales last quarter and you want sales to grow by 10% this quarter. That would mean that your goal is to generate £110,000 in sales over the next three months.

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Create X Pieces of Content Per Month

Creating high-quality content is one of the best ways to attract new leads and customers and grow your business. But blindly creating content without any defined goals is a recipe for disaster—you'll end up wasting valuable time and resources on topics that no one cares about and that don't help you achieve your business growth objectives.

To make this objective SMARTer, define how much content you want to create each month as well as what kind of content it will be (eBooks? Blog posts? Videos?).

For example, your goal could be create 10 blog posts per month on topics that are relevant to your target audience.

As you can see from these examples, SMART business growth objectives are specific, measurable, achievable,...timely manner is essential for the success of any business.

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About the Author

Annette Ferguson 

Owner of Annette & Co. - Chartered Accountants & Certified Profit First Professionals. Helping online service-based entrepreneurs find clarity in their numbers, increase wealth and have more money in their pockets.