And just like that, June 30 has come and gone and it’s a new financial year. Like most people around the world, you might have found the 2020/21 financial year to be especially difficult. So with all life is throwing at small business owners at the moment, there is no better time to focus on what you can do to make the most out of the new financial year. But how do you do that? Read on to find out.

Making SMART Goals

Making business goals can be a bit overwhelming but if you use the SMART method, it can help you stay focused and come up with goals that can really take your business to the next level.

S - Specific

The key to goal setting is to make your goals as specific as possible. Having a vague idea of what you want and where you want to go just won’t cut it here. Figure out what you want to achieve in as much detail as you can and it’ll not only make it easier to focus on, it’ll also make it easier to work out if you’re on your way to achieving your goals. So make sure you know the what, why and how.

M - Measurable

Targets and milestones are your two best friends when it comes to setting goals. After all, how else will you know if you’re on the right track or not? Not only that, but they’ll tell you when you’ve achieved your goal.

A - Attainable

Your goals need to be attainable and therefore they need to be realistic. Otherwise you’re just setting yourself up for failure. Break your goal down into manageable steps and you’ll be more likely to succeed.

R - Relevant

Does your goal align with your mission statement, your customer base, market and business model? If it doesn’t then you’re not likely to get very far.

T - Timely

Give your goal a deadline to ensure you’re committed to it. Coming up with a timeline for your goal can be motivating and can increase your chances of achieving it.

Want to know if you’re on the right track? We can help you with interpreting your financial data to see how your business is doing and help you with decision-making. Connect with us today to find out more.