You’re going to have goals in your business that shape the future path of the company. For instance, you might have an idea of how much you want to be making in profit five years down the line. It’s useful to have milestones that you are attempting to reach. But it’s important to realize that certain goals and targets can also limit your business. You might think that sounds contradictory but it isn’t, and we’ll give you an example.
When you’re running a business online, you are probably hoping to reach and attract the widest audience possible. For instance, you might be under the impression that your business product is universal. Everyone, young and old, boy and girl, is going to want it. But there are very few products on the market that are completely universal. And by aiming to attract too many people, you can damage your marketing campaign. You won’t be able to promote your product toward customers who are actually going to be interested in buying. Instead, you’ll be spreading your net too flat, and as such, you’ll fail to catch anything.
Sometimes, keeping a specific target customer in mind and marketing towards them is the best way to find success. You can then work to slowly get other people interested in your products.
Here are a few other examples of how business goals can hinder your performance.
Fast But Not Efficient
Perhaps the USP of your company is a fast turn around time. With a fast turnaround, you can ensure that customers and clients get the product that they want as quickly as possible. But, fast doesn’t necessarily mean efficient, and you could be making mistakes that will cost you both clients and money in the long run. Instead, you should think in terms of slow is smooth and smooth is fast. This means that by going slowly, you’ll avoid mistakes and thus deliver a fast service without trying. As such, you can still get the desired result without the goal as a main focus of your company.
Delivering A Huge Quantity
You might be running an ecommerce business online delivering massive amounts of products to customers all around the world. But, are you still keeping quality checks as part of your production process. This is the age old mistake of favoring quantity over quality, losing customer interest in the process. If your customers don’t get a quality product, it doesn’t matter how much you are delivering or how quickly it gets there. They won’t return for another sale.
Keeping Costs Low
It is worth thinking about how to cut costs in your business. But you can’t make this the ultimate priority for your business. If you do that you’ll be cutting costs in areas where it’s necessary to spend. For instance, you can avoid hosting your site online and immediately cut a little money out of your budget. But, by doing this, your website won’t be as fast or as easy to use as the rest on the market. As such, you might find customers begin to favor the competition.
As you can see then goals in business can be useful, as long they fit the right perspective.
Latest posts by SWE Staff (see all)
- Outsourcing Is Not About Why, It Is About What - March 23, 2017
- Is Your Website Broken? - March 21, 2017
- Your Website Needs A Pro And That Is Non-Negotiable - March 17, 2017