A business with no goals is uncertain to survive. Having a goal enables you to achieve the success you desire as an entrepreneur. While every small, medium or large business wants to succeed, not everyone has the resources to go through and do the same.

To put it simply, everyone wants to achieve the goals, but no one wants to put in efforts. Some entrepreneurs have a mindset just to give up, while there are some who go beyond the definition of tough.

Those who are well versed in goal setting, who can effectively set goals and follow them with their achievements, know what it takes to do so. What all it takes is— true determination, effort, and perseverance.

Given that, you are perhaps no stranger when it comes to setting goals for the business. But, what actually you need to achieve your business goals?

Here are 18 best tips for setting better business goals and achieving entrepreneurial success.

1. Run a SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis
SWOT means a high-level strategic model that helps you understand the chances of improvement within your organization. SWOT stands for— Strengths, Weaknesses, Opportunities, and Threats.

It needs you to collect quantitative and qualitative data from different sources. Accessing data from multiple sources helps you improve your enterprise-level strategy. It also enhances policy-making, decision-making, communication and enables smooth, coordinated operations.

Running this analysis first will get you through the strategic challenges as well as opportunities before you set the targets.

2. Do a competitive internal standard check
This tip enables you to analyze performances in different sections of your organization. It also helps you compare your business across your peers’ or competitors’ organizations. This tip comes handy when you initiate your goal-setting process. It does so by showing you areas where you are strong and where you are weak.

3. Run a market analysis
Where do you see your company standing? What are the trends specific to your industry? You need to find the answers to these questions. You can get the answers only through meticulous market analysis.

4. Give your business a visual identity
Earlier we said that as an entrepreneur you should compare your business with your competitors. In between your comparison, you will find that each one of them has embraced a logo to get their business recognized easily. When it comes to business goal setting, a custom logo holds significance too. You don't want to get lost in the crowd of entrepreneurs; right? A logo is what keeps your organization unique and easily identifiable.

5. Review your earlier performance
In the business sphere, without going back, you can’t go ahead. Reviewing your past performance can help you set future business goals. Therefore, you need to check each of your earlier performances for better insight.

6. Seek employees’ inputs
Seeking insight from your employees is a well-planned strategy. It will give your internal leadership team insights from people who are on ground level in your organization. Don’t just seek their opinion, but make sure to utilize it. Else, they will be less likely to provide any inputs in the near future.

7. Determine the key people for the goal-setting role
Deciding who should be the core members of your goal setting strategy is based on the size of your business. It depends on you, who will be part of goal-setting conversations. Would you include the senior leadership? Or, would you include mid-level managers? If your business is large enough, then would you engage your board of directors too?

8. Make sure every goal is connected to your company’s vision
This step is to make sure each goal complements your mission and vision. It also defines where your business is headed in the long run. It shouldn’t be momentarily though.

9. Make sure your goals are descriptive
The more specific as well as descriptive you are, the more likely people will understand your goals. Let's take for an example — your goal is to get at least ten consumers per month. This goal is transparent and understandable than "increase our customers."

10. Make sure your goals are realistic
Do you think all your goals are achievable? Are there some goals that are impossible to achieve? Setting unrealistic goals is a waste of time. You can stretch your goals, but can't set something that no one can achieve.

11. Break up your goals
You need to be sure that your goals are appropriately sized. It means if you have goals that are too large, break up them into small or multiple steps. After that, set target dates for each one of them.

For example, you have to create a logo. Whether you would reach out to a graphic design company or do it yourself using a logo maker, you need to write that in steps. It’s a complicated process, so you need to break it down into sections like— reach out to a company like Designhill or use a tool. Brief or keep the company's essence in mind. Start creating a logo then review, check, customize and then accept.

12. Consider if your goals are easy to measure
You need to see whether you can measure your goals. You won’t create measures that collide with your goals. Make sure you can track, measure and analyze your goals.

13. Consider actionable steps to achieve goals
Do you know the actions that you would take to achieve your goals? At times, avoiding challenges in terms of achieving your goals is easier. For example, you want to provide 100% customer satisfaction. At the same time, you want to maximize your profit. These are two separate goals. So, to be realistic, you need to give one a bit more priority than the other.

14. Set accountability for each goal
Who is going to make sure everyone will stay on track? Who will give the progress report every month or quarterly? You need to define roles and responsibilities to assure consistent progress.

15. Identify resources to achieve goals
What resources would you deploy to achieve a goal? You need to identify that. For example, developing and using a CRM system is one of the goals. You will look into your finance to ensure if you have enough funds.

Remember, crossing your budgetary limitations is a greater hindrance in achieving your goals.

16. Regular meetups to check the progress
Meeting regularly to review the progress ensures that everyone stays on task no matter what. Also, remember that you may need to make some adjustment as your team starts pursuing these goals.

17. Communicate your goals
Do you think everyone in your business understands your goals? As your entire company is involved in the process, it’s important that every department and employ should have a clear understanding. You need to tell them how their performance will have a direct impact on your goals.

18. Get good data for measures
Once you have set your goals, choose measures to monitor the performance of each target. Make sure you own data that notifies each measure in an imperative manner.

Conclusion
The process of setting business goals ain’t easy. So, when your business achieves its goal, take your time to identify it.

Follow these tips and set better business goals for success.