11 Essential Small Business Goals and How to Achieve Them

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Reviewed by Barbra Simpson
• 4 minute read

Running a small business is a challenging yet often rewarding venture, but success doesn’t happen by accident. It requires clear, actionable goals and a roadmap to achieve them.

Whether you’re looking to streamline operations, boost revenue or enhance your marketing, setting the right goals can propel your business to new heights.

To help your business grow, let’s go over 11 essential small business goals and how you can make them a reality.

Small Business Finance Goals

1. Improve cash flow.

Cash flow is the lifeblood of any business. Improving your cash flow ensures you have the resources to cover day-to-day expenses, invest in growth and weather unexpected challenges.

How to achieve it:

  • Track income and expenses regularly with accounting software.
  • Invoice customers promptly and set clear payment terms.
  • Consider offering discounts for early payments to encourage quicker collections.

2. Cut unnecessary expenses.

Keeping a close eye on business expenses can significantly impact your bottom line. Eliminating wasteful spending can free up funds for more critical investments.

How to achieve it:

  • Audit your expenses quarterly to identify areas of overspending.
  • Negotiate better deals with suppliers or switch to cost-effective alternatives.
  • Leverage technology to reduce manual labor costs.

3. Create a tax strategy.

Proactive tax planning can save your business money and prevent costly surprises during tax season.

How to achieve it:

  • Work with a tax professional to identify deductions and credits.
  • Set aside funds monthly for tax obligations.
  • Stay updated on tax laws and regulations to avoid penalties.

4. Explore financing opportunities.

Access to financing can help your business grow, weather tough times, or seize new opportunities.

How to achieve it:

  • Research small business loans, lines of credit and grants.
  • Build and maintain a strong business credit profile.
  • Consider alternative financing, such as crowdfunding or venture capital, if applicable.

Small Business Operations Goals

5. Build or improve your operations manual.

An operations manual is essential for consistency, efficiency, and scalability. It documents your business processes and ensures team members know what’s expected.

How to achieve it:

  • Outline step-by-step instructions for key tasks and procedures.
  • Include checklists, templates, and resources for easy reference.
  • Regularly review and update the manual as processes evolve.

6. Improve productivity.

Boosting productivity enables your team to accomplish more in less time, increasing your business’s overall efficiency and helping you to reach your small business goals faster.

How to achieve it:

  • Identify time-wasting activities and eliminate them.
  • Implement tools like project management software to streamline workflows.
  • Encourage regular breaks to avoid burnout.

7. Use automation.

Automation can save time, reduce errors, and allow your team to focus on high-value tasks.

How to achieve it:

  • Automate repetitive tasks like data entry, email marketing and inventory management.
  • Use customer relationship management (CRM) systems to streamline sales and communication.
  • Consider tools like chatbots for customer support.

8. Hire great employees.

Your team is the backbone of your business. Hiring skilled and motivated individuals can drive your business forward.

How to achieve it:

  • Develop clear job descriptions to attract the right candidates.
  • Offer competitive compensation and benefits.
  • Focus on creating a positive company culture to retain top talent.

9. Improve customer experience.

Delighting your customers ensures repeat business and positive word-of-mouth referrals.

How to achieve it:

  • Solicit and act on customer feedback.
  • Train employees to provide exceptional service.
  • Use technology like loyalty programs and personalized marketing to enhance engagement.

Small Business Marketing Goals

10. Build your online presence.

A strong online presence is crucial for reaching and engaging your target audience.

How to achieve it:

  • Create a professional website optimized for search engines (SEO).
  • Maintain active social media profiles that align with your brand.
  • Produce valuable content, such as blogs or videos, to establish expertise in your industry.

11. Start a new marketing campaign.

A fresh marketing campaign can help you reach new customers, re-engage existing ones, and increase your market share.

How to achieve it:

  • Define clear goals and key performance indicators (KPIs) for your campaign.
  • Experiment with different channels, such as email marketing, social media ads or influencer partnerships.
  • Analyze results and optimize your approach based on what works.

How to Set Goals for Your Small Business

Effective goal-setting starts with clarity and focus. Use these tips to set meaningful objectives:

Be specific. Define exactly what you want to achieve.

Align with your vision. Ensure goals align with your long-term business vision.

Prioritize. Focus on a few key goals to avoid spreading your efforts too thin.

How to Achieve Your Small Business Goals

Once you’ve set your goals, use the SMART framework to create an actionable plan. You’ll want your goals fit these characteristics:

Specific. Make sure your goals can be clearly defined.

Measurable. Include metrics to track progress.

Achievable. Ensure your smart goals are realistic given your resources.

Relevant. Align the goal with your overall business strategy.

Time-bound. Set a deadline to maintain urgency and keep yourself accountable.

The Bottom Line

Achieving your small business goals takes commitment, planning and regular assessment. By setting clear objectives and following the strategies outlined here, you’ll be well-equipped to overcome challenges and drive your business to success.

DISCLAIMER: This content is for informational purposes only. OnDeck and its affiliates do not provide financial, legal, tax or accounting advice.