It's Goal Time Again

by Laurie Griffith

Developing Goals Requires Teamwork for Success

What is the best route to success when you’re trying to lose weight? Set a goal you can achieve and then share your goal with a friend. Saying the goal out loud holds you accountable. Even better, enlist a friend to join you and your chance of success multiplies. Last, weigh in regularly to make sure you are staying on track. The same principles apply for goal setting in the business environment.

Kevin Pallardy, managing director of BPI Group, shares his thoughts on goal setting: “We don’t create goals in a vacuum. It doesn’t make sense to develop sales goals without an understanding of what the market needs and how our products/services fit those needs. Similarly, it doesn’t make sense to develop career or developmental goals without looking at the needs of the company or the market. Effective goal setting takes into consideration my needs and offer as well as the needs and offer of the organization, market, family, etc. We call this approach ‘shared success.’”

Kevin currently leads BPI Group’s Western Region, based in St. Louis. His clients range from small, emerging companies to Fortune 500 organizations. Kevin is a coach and facilitator for individuals and organizations. He helps set professional and organizational goals. By aligning the goals of the company with those of the individual, he increases the odds of success in meeting the needs of both the individual and the organization. Shared success reduces the risk of gaps and failures that result from goals being set in a vacuum.

When setting goals, many small businesses are overly ambitious. Keep the process simple.
• Set a maximum of five goals to get people aligned and engaged.
• Involve key people in your organization to help set these goals. If your business is just starting, this may be trusted friends and advisers.
• Ask questions about your business. How much will we grow revenue this year? What will we do to improve our profit? Can we improve customer satisfaction? How do we recruit and retain top talent?
• Set realistic and specific goals that will have the most impact on your business. Keep your goals tight, understandable and achievable.
• Write down your goals. They should be concise and very visible. This helps you communicate your goals consistently and ensures that everyone is on the same page.  
• Develop a plan to achieve these goals. Make sure you have systems in place to monitor the results. Developing budgets/projections is a good way to quantify these goals.
• On a regular basis, weigh in and compare your actual results to your goals. The sooner you compare historical results to your projections, the better chance you have to make meaningful adjustments.

From an individual standpoint, look at the company’s goals and assess whether your skills and experience can help meet the goals of the organization. If there are gaps, then come up with a plan to align your value proposition with the needs of the company.

Join us at our next Sharp and On Point Speaker Series on Tuesday, Dec. 15, from 7:30 to 9 a.m. at the Lodge Des Peres as Kevin Pallardy from BPI Group discusses the “shared success” approach to goal setting and developing a plan that will be beneficial to both the company and the individual. To reserve your seat or for more information, visit www.SharpAndOnPoint.com or www.LopataFlegel.com. n

Laurie Griffith is a principal at Lopata, Flegel & Co. Accountants and Management Consultants. Join us at the free monthly Sharp and On Point Business Advisory Speaker Series from 7:30 to 9 a.m. on the third Tuesday of every month at the Lodge Des Peres. Learn business strategies you can immediately put in place to point your business in the right direction. For more information, visit www.SharpAndOnPoint.com.