Get a professional business plan template at no cost. You can subscribe to Kim's business growth tips by email, or connect on LinkedInTwitter and Facebook. It's definitely not the most exciting part of starting a business. In fact, if you're like a lot of entrepreneurs, you're probably going to find yourself pulling a few all-nighters to get one done before heading into your first pitch for funding.
Profit Service In this template we define the goals as annual goals; however, you can choose any time period which suits your needs.
You may choose to define yearly, quarterly or monthly goals. Or you may choose to define two different timeframes for your goals such as five year goals and annual goals, or annual goals and quarterly goals.
The key to success is to make sure your goals are realistic and achievable within your defined timeframe. For each goal give it a number starting with one and give it a name prefixed with the general category for that goal.
Several examples of business goals are provided later in this template. The objective further defines the goal by giving it more detail and clarity.
The objective should be written in a few sentences or a short paragraph.
Your objective should be specific, measurable, attainable, realistic and time specific. It is assumed that all objectives are to be achieved within the timeframe of this document annual - end of the specified year; quarterly - end of specified quarter; monthly - end of specified month; etc.
If the timeframe is beyond the amount of time defined in this document then you should redefine your objective so it fits into that timeframe. Examples of business objectives are provided later in this document.
Strategies are how you're actually going to achieve your objective. Strategies aren't measurable, time bound or specific. They actually define the approaches you're going to take in order to achieve your stated objective.
For example, if your goal is to develop brand awareness then your strategies may include; press releases, print advertising, tradeshows, product displays or social media - to name a few.
Performance measures is perhaps the most important part of developing your annual business goals. This is where you provide a specific list of actions which need to be accomplished. It is important that these are realistic and measureable because you're going to be held to these.
Good practice is to review your annual business goals either quarterly or monthly and check off which performance measures you've achieved. At the end of the year you should have completed all performance measures in this document.
Some performance measures may be defined in a static quantity i. You should have one performance measure for each of your strategies.
Use this template as a basis for developing the annual goals for your business. Remember, you can define your goals as annual, quarterly, monthly or any timeframe which best fits your business. You can also have one document for short term goals and another for long term goals.
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