The Impact of Setting Goals:
Why Every Small Business Owner Needs to Master This Skill
When you’re running a small business, there’s no hiding. You’re the one fire fighting, taking client calls, managing the accounts, and probably locking up at the end of the day. It’s exciting, it’s rewarding, but let’s face it—it can also feel like chaos on a good day.
That’s why goal setting isn’t just a "nice to have" skill for small business owners. It’s essential. Done right, it’s like giving your business a GPS—a way to navigate the twists, turns, and detours without losing sight of your destination. But here’s the thing: not all goal setting is created equal. There’s an art and a science to doing it well, and when you master it, you’ll wonder how you ever survived without it.
Let’s break down why goal setting is so powerful and how you can do it effectively.
Why Goals Matter
Imagine driving without a destination. You might enjoy the ride for a while, but sooner or later, you’re going to wonder where you’re going and why you’re burning fuel. Running a business without clear goals is much the same. Goals:
Give You Direction: They’re your north star, helping you prioritize what matters most.
Keep You Motivated: Progress feels good. Checking off goals reminds you why you started in the first place.
Measure Success: Without goals, how do you know if you’re winning? Goals give you something tangible to work towards.
Reduce Overwhelm: When you’ve got a million things to do, goals help you focus on the few that will move the needle.
Best Practices for Goal Setting
Not all goals are created equal. Setting goals the right way can mean the difference between spinning your wheels and making meaningful progress. Here’s how to do it:
1. Be Specific (and Realistic)
"I want to grow my business" is a nice thought, but it’s not a goal. Instead, try: "I want to increase revenue by 20% over the next six months by launching a new product line."
Specific goals make it clear what success looks like and help you plan the steps to get there. Be ambitious but grounded. Aiming for the stars is great, but make sure you’re launching from solid ground.
2. Break It Down
Big goals can be intimidating. Break them into smaller, actionable steps. If your goal is to hire your first employee in three months, your steps might look like this:
Define the role and responsibilities (Week 1)
Research salary benchmarks and create a budget (Week 2)
Write and post the job ad (Week 3-4)
Interview candidates (Week 5-8)
Make an offer (Week 9)
By focusing on one step at a time, you’ll build momentum and stay motivated.
3. Set Deadlines
A goal without a deadline is just a dream. Deadlines create urgency and help you stay accountable. They also give you a point to review and adjust if needed. Pro tip: build in a bit of buffer time. Life happens, and flexibility can save you from unnecessary stress.
4. Track Your Progress
Keep your goals visible. Whether it’s a whiteboard in your office, a spreadsheet, or an app, find a way to track your progress. Regular check-ins (weekly, monthly, or quarterly) will help you stay on course and make adjustments as needed.
5. Celebrate Wins
Don’t wait until you hit the finish line to celebrate. Every milestone is a win worth acknowledging. Treat yourself—whether it’s a coffee at your favorite spot, a team lunch, or just taking a moment to reflect. Celebrating progress keeps morale high and reminds you why you’re working so hard.
The Personal Trainer Who Wanted More
Meet Liam, a personal trainer based in Manchester. Like many in his industry, he spent years juggling clients, building workout plans, and marketing his services online. But Liam felt stuck. His days were packed, yet his business wasn’t growing. His goal? Double his income in a year without adding more hours to his workweek.
Here’s what he did:
Specific Goal: Increase monthly revenue from £4,000 to £8,000 by launching a group coaching program.
Action Plan: Liam spent the first month surveying his clients to understand their biggest challenges. Then, he created a 12-week transformation program, complete with meal plans, group workouts, and accountability check-ins. He marketed it via Instagram and email.
Deadlines: He gave himself three months to fill the first cohort with 20 clients. Each week, he had mini-goals: designing the curriculum, filming promotional content, and running ads.
Tracking: Liam tracked sign-ups and engagement daily, tweaking his strategy based on what worked.
Celebrating Wins: When he hit his first milestone of 10 sign-ups, Liam treated himself to a weekend off—something he hadn’t done in years. When he doubled his income six months later, he reinvested in his business with new equipment.
By setting clear goals, breaking them into steps, and staying disciplined, Liam didn’t just transform his business—he transformed his life. Today, he works fewer hours, makes more money, and has a waiting list of clients eager to join his programs.
Final Thoughts
Running a small business is hard work, but goal setting can be the game-changer that keeps you moving forward. It’s not just about achieving more; it’s about doing it with intention and clarity.
So, here’s my challenge to you: Take 30 minutes today to write down one specific goal for your business. Break it into steps, set a deadline, and commit to tracking your progress. Small actions, done consistently, lead to big results.
You’ve got this. Now go make it happen.