There can be no doubt that you will not be able to work very far into turning your Profit around until you have decided what your goals are for the business.
A business can have many different types including:
- Rapid growth.
- Improved profitability.
- An exit sale at a good price and so on.
Some of these may be incompatible with growing Profit. For example, it is often hard to grow both Revenue and Profit because the Income is used to pay for resources necessary for growth, thereby leaving less Profit.
In this article, we have assumed that you are aiming to increase your Profit.
Even so, you can spend a few minutes looking at your SMART goals so that they are clear in your mind.
Go to the article: How to do Goal Setting for Business
or learn a simple way to get started that will co ver 3 year, 1 year and quarterly goals set in under 1 hour!
The Leaders Briefing signup: LB3 Quick Goal Setting for the Time Poor
You will have variations on the actual SMART goals that you set but essentially your target is to:
Optimise Your Business in 100 days
Double Your Profits