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What To Do When You Didn’t Reach the Business Goals You Set Last Year

Updated on January 17th, 2022
Business Goals

The beginning of the new year prompts many of us to do a bit of reflection. This often involves thinking about the annual business goals we met or didn’t meet.

There’s no shame in reaching for the stars when it comes to setting goals for your business, but when you miss some of those goals it can sting a little bit.

Here are a few productive moves you can make after not meeting business goal. Also included is why you shouldn’t consider that a failure.

Ask Yourself If the Goal Was Truly Attainable

Sometimes we put too much pressure on ourselves and expect miracles to happen. Overworking yourself and setting unrealistic goals will only lead to burnout and disappointment.

It’s important to make sure the goals we set for our business are attainable and actionable. Let’s say your goal was to double your income for the year and you missed it. First, determine whether that goal was truly attainable and what actionable steps you took to reach it.

Sometimes breaking that big goal down into chunks can make it seem much more attainable so maybe you can plan for a 25% business income increase as well then plan your next target once you hit that goal.

Pinpoint Where Things Went Wrong

If you didn’t meet one of the goals you set for your business, it’s safe to say some things didn’t go as planned during the year. Be sure to pinpoint exactly where things fell apart and don’t forget to consider any special circumstances that could have hindered your progress.

Did you get too busy and neglect your goal? Did an emergency come up that stole your attention away? You developed some unproductive habits?

The reason why you need to determine what went wrong is not so you can place blame but so you can better understand the full picture and learn how to adapt to some of those changes next time around.

Develop a Game Plan For the New Year

Now that you have acknowledged what went wrong with the goals you didn’t meet, there’s no use in beating yourself up. Developing a new game plan for this year will be a better use of your time.

Focus on setting specific and attainable goals and avoid setting too many so you can maintain focused on what is most important.

Take all the lessons and experiences you learned the previous year and apply them over the next few months if you will be restructuring some of the goals you didn’t meet previously.

Summary: Don’t Always View Missed Goals as Failures

If you go into the new year thinking that you’ve failed, you won’t be setting yourself up for success. Consider missed goals as lessons and experiences you can use to make your business even better.

After assessing the reason why you missed some of your goals, you may find that it didn’t have much to do with you. Realize large overarching goals won’t always fit nicely into a 12-month package. Sometimes it takes business owners years to boost their bottom line and reach the large goals they first set.

Choncé Maddox

Choncé Maddox

Choncé Maddox is a debt expert. She helps ambitious millennials and Generation Z get our of the mounds of debt they are in following college. In 2015 she realized she couldn’t afford to do her own laundry, she was so broke. She had to make a change. Over the next three years she personally tackled $50,000 in debt and became debt free. She teaches others her passion since.

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