28/04/2024

Characteristics of an effective business

It is normal to ask if your business is on the right track. There are some characteristics that only effective businesses have. These characteristics are implemented in your business objective and determine the path it will take. Important people in business such as Felipe Antonio Bosch Gutierrez agree that the objective of their business must be well oriented and have these characteristics to be effective.

1.-Have a purpose

Every goal has a purpose. It’s the one thing that makes the difference between setting a goal and achieving it.Even if you are setting goals for your business, the purpose has to be personal. What will it mean to you when you reach that goal?

A purpose is key to achieving your goals.

2.-Write down your goal

Write down exactly what it is you are working so hard to achieve and why.

It is well researched that business leaders who set clearly defined written goals achieve better results than when goals are not documented.

Write down your goal so you can easily refer to it when you start to lose sight or motivation. You can also use a written goal as a guidepost when you need to decide which tasks to prioritize. Which tasks are supporting your goal?

3.- Create an activity plan

Your objectives can be broken down into small, manageable actions. These actions create your activity plan.

By analyzing these actions, you can see what systems you need to achieve your goals.

Small business owners often have lofty goals. We are visionaries after all. I believe that you can achieve any goal with the right strategies and systems.

To help make your big goals more attainable, you can break them down into areas of leadership, operations, finance, team, and sales/marketing. This creates a roadmap for you and your team to make your goals a reality.

4.- Be measurable

A goal is an objective or target. How do you know if you are on track to that goal?

An example of this would be: A client of mine wants to open a second bakery. She knew she was on her way to this goal by measuring the amount of money she could set aside each month. For her, monetary value was the key.

What will be the indicator that you are on track to reach your goals?

5. Be tracked

Once you know how to measure your goal, you’ll want to check in to make sure everything is going as planned.

Schedule time monthly, quarterly and annually to see if your actions are bringing you closer to your goals.

6. Be shared with your team

As entrepreneurs, we tend to keep our goals in our head where they are powerful and vivid but not very useful if we want to achieve them. Business owners who are moving toward prosperity and freedom should write them down and

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