20 per cent VAT 2012 budget 50% return accountancy accountancy fees accountancy services accountant accountant B accountants accounting for dividends accounting software accounts administration annuity annuity rates Autumn statement avoid inheritance tax avoiding inheritance tax bank lending basic personal allowance BCC big picture Bribery Act British Chamber of Commerce budget budget 2011 Budget 2012 budgeting business business advice business confidence business exit business exit planning business friendly business goals business management business owners business plan business planning business record keeping business records business sale business success business succession planning business survival business tax planning business tips bwe based account cash flow Cash flow forecast cash is king cash management Cash-based accounting cashflow chancellor chartered accountant chartered accountant Birmingham chartered accountants chartered financial planner chartered financial planner Birmin child savings children’s savings client entertaining Cloud accounting Company Tax returns corporartion tax Corporation tax credit control credit control procedure debt collection debt recovery director’s loan account directors loan Directors’ loan account dividends doubl dragons den Economic expansion EIS Enterprise Investment Scheme enterprise zones Entrepreneur’s relief entrepreneurs entrepreneurs relief exit planning finance finance management financial advisor financial difficulty financial forecasts financial goals financial management financial plan financial planning financial planning checklist financial planning tips FSTE 100 FTSE100 fund manager gifts global markets growth HMRC HMRC enquiry HMRC tax enquiries HMRC tax enquiry home loans how to manage time ICAEW IHT income tax income tax r income tax return inheritance tax inheritance tax planning insolvency Institute of Chartered Accountants investing Investment investment advice investment diversity investment in marketing investment management investment philosophy investment planning investment portfolio investment strategies investment volatility investments investors jobs key perfirmance indicators KPIs kpi's late payment penalties late payment penalty fines late payments management meetings marketing investment miscalculated tax motivating staff national lottery new years resolution online accountancy software online accounting online accounting software online accounts online tax return online VAT return outsourced accountancy outsourcing outsourcing accounts overtrading owner managers Pay off mortgage PAYE paying a dividend pension pension contribution pension contributions pension fund Pension funds pension scheme pensions personal allowance trap Personal financial plan personal financial planning personal tax return plumbers tax safe plan pre pack administration private pension profitable business sale R & D tax credits R&D tax credits recession reduce tax report on economy research and development tax credits retirement planning Saga sareholder protection cover Seed Enterprise Investment Scheme SEIS Self assessment self assessment tax return selling my business selling your company shareholder protection small business small business tax small businesses SME SME marketing SME tax planning SMEs start-up succession planning tax accountant tax affairs tax avoidance tax breaks tax charges tax code tax disclosure tax enquiries tax enquiry tax evasion tax investigation tax investigations tax liability tax man tax mitigation strategies Tax planning tax planning advice tax planning schemes tax reduction tax reform tax relief Tax return tax saving tax saving strategies tax savings tax strategies Tax tribunals taxation tax-break time management time management skills tough times UK Bribery Act UK economy VAT increase vat return VAT rise VAT submission web based acc when to pay a dividend work-life balance Xero Xero accountancy software Xero accountants xero accounting Xero accounts Xero accounts service

Setting targets for success in 2011

Add to: Digg Add to: Del.icio.us Add to: Facebook Add to: Furl Add to: Google Add to: Live Spaces Add to: MySpace Add to: StumbleUpon Add to: Twitter
Thursday January 13, 2011 at 12:11pm
The success of your business in 2011 may very well depend upon your ability to set and achieve the right business goals during the year. But to be really successful you need to do more than simply set goals. You must also be able to create goals that are both achievable and inspiring, and that the people who work for and with you will be proud to adopt as their own.

Here are our suggestions for setting effective goals in 2011.

Set your personal goals first
When you want to take your business in a new direction and begin implementing serious goal setting it is best to start by looking in the mirror. As the head of the company you need to have your own personal goals and plans for your future success and the betterment of yourself and your family.

When you’ve set goals for yourself you’ll be better prepared to serve as an example to others when you set goals for your business. You’ll also have a little perspective when it comes to planning for the successful achievement of these goals.

Set goals that are realistic and visionary
Your goals should be big but achievable. Your goals need to challenge your business, your employees, and your business model while leaving you all room to succeed and achieve those goals.

It’s essential that your goals are realistic. If you set the bar too high then you’re setting yourself, your business, and every member of your team up for failure. No one likes to feel like a failure. Eventually people will stop trying to reach goals they feel are impossible. It’s a fine balance but one you can find.

Create an atmosphere of positive attitudes, ideas, plans, and dreams for your company and rely on the people that are making your business grow now for truly visionary ideas for expansion and growth in the future. Some of their ideas may surprise and inspire you.

Creating a plan to meet your goals
Once the goals are set you need to roll out a plan of action designed to make it happen. A great way to do this is to break down each goal into individual steps and schedule in the time to make these steps happen. Small changes in processes, work habits and business attitudes can mean big changes for the bottom line and the future of your business. When everyone in the company is on board making these changes each and every day there is no limit to how far your business can go in 2011.

Good luck and here’s to a year of achieving big, challenging goals for us all.

Andy Parker
Chartered Accountant and Business Advisor

Comments on this post:

There aren't any comments for this post yet. Why not be the first to comment?

Categories:

General, Business Management, Support for Business Owners

Other Recent Posts
  • What does retirement mean to you?
    		•
  • Double Dip Recession. Is it all bad news?
    		•
  • Large corporations must do more to stamp out late payments
    		•

    Share your experiences:

    Your Name  
    (to appear with your comment)
    Email Address  
    (will not be published)
    Comments:  
    Human Validation Check  
    In the box below, please type the characters that you see in the picture. This helps us to ensure a real person (and not a crafty computer!) is submitting this form.

    Enter the code shown to the left:

    Parker Chartered Accountants and Financial Advisors, 1192 Warwick Road, Acocks Green, Birmingham. B27 6BT.
    Tel: 0121 764 5161  Fax: 0121 764 7833  Email Parker Chartered Accountants here