As 2021 comes to a close, it’s a good time for 3M™ Authorized Dealers to start thinking about their overall business goals.
Business goals often reflect your vision of where you want your company to be in the next three- to five years. Ask yourself, “What do I want to accomplish in three to five years from now?” The answer to that question will offer you a clear picture of what your long-term business goals should be.
According to Maria Marshall, an associate professor at Purdue University in West Lafayette, Indiana, who has conducted research on small and family-owned businesses, long-term goals can fall within four general areas:
- Service – This is related to customer service satisfaction and retention.
- Social – This is related to giving back to the community, such as philanthropy and volunteering.
- Profit – This is an increase in overall profits.
- Growth – This is the expansion of the operations, such as adding new employees or offering new products or services.
To assist in creating goals, consider doing a SWOT analysis for your company. Create a list of your:
- Strengths – What currently makes your business strong? What do you have going for you that helps you succeed?
- Weaknesses – What is lacking in your business? Where are some weak points in your daily operations?
- Opportunities – What opportunities exist both inside your business operations and outside? Are there changes in trends and technology?
- Threats – What environmental factors – such as competition, shipping delays, weather – are threats? What can hinder you from reaching your goal?
With the New Year ahead, this time of year offers a great time for business owners to start planning for the future. According to the Small Business Chronical, visionary planning considers what your company is doing now and what it could be doing in the future.
Want help determining your business goals? Reach out to your local territory rep for guidance. You can also be put in touch with a marketing professional through Accent Distributing. Contact Inside Sales at [email protected] or at (941) 922-5268.
