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Running a small business nearly always means keeping several plates spinning at once. And, with so much focus on day-to-day tasks, it can be hard to take a step back and think about where you’re heading.
That’s where setting clear, actionable goals comes in.
Business goals shouldn’t just be ambitions written on paper. Think of them as a way to give your work direction, make decisions easier, and measure success along the way. When done the right way, goals can help you turn big ideas into realistic, achievable outcomes.
Here’s how to approach goal-setting in a way that works.
There’s no one-size-fits-all when it comes to business goals. For some, success might mean building a bigger customer base or opening a second location. For others, it could be reducing admin, keeping costs down, or creating a better work-life balance.
Think carefully about what matters most to you. Are you aiming for growth, stability, or efficiency? Once you know that, you can set goals that match your priorities, instead of chasing targets that don’t fit your business.
Large, long-term ambitions can feel overwhelming if you don’t map out the steps to get there. Let’s say you’re dreaming of expanding into new markets. The first steps might be researching local demand, adjusting your marketing approach, and reviewing the finance you’ll need to support that move. Success doesn’t just happen overnight.
Using a framework like SMART (Specific, Measurable, Achievable, Relevant, Time-bound) can help. For example, instead of saying you want to increase sales, you could instead set down the target of growing repeat orders by 15% within 6 months. Small, tangible goals can make progress easier to track and success easier to celebrate. While also giving you a clear sense of what’s working and where you might need to pivot your approach.
Money matters when it comes to reaching your business goals. Whether it’s a loan, an overdraft, or a business credit card, access to the right type of finance can help you put your plans into action.
The key is to treat finance as a tool, not an afterthought. If you’re aiming to grow, it could mean funding new equipment, marketing campaigns, or even extra staff. If efficiency is your focus, it might be about streamlining processes or upgrading systems.
What’s important is to match your financial choices to your goals. Work out what you need, how it supports your bigger picture, and then compare options carefully. That way, finance becomes part of the plan, not just a cost on the side.
Your business goals shouldn’t be carved into stone. They can, and should, change and adapt as your business evolves, or as market conditions shift. Think of them less as immovable rules and more as milestones to guide you in the right direction. Staying flexible doesn’t mean you’re off track – it shows you’re steering your business with awareness.
Good business goals aren’t just a to-do list – they’re part of a roadmap that’s there to help you stay focused, motivated, and ready to grow. By defining what matters most, breaking ambitions into steps, and seeing finance as a tool rather than a hurdle, you can give your business the best chance of achieving long-term success.
Alex joined in 2019, bringing his expertise to a range of roles working in both the analytics and commercial teams. Then he stepped across to focus on the product team, where he’s been focusing on scaling up the teams’ SME offering.
