8 Advantages of Setting Annual Goals

If you are not a goal-setter — personally or for your business — it’s our hope that this article changes your mind. Many people don’t set goals because it feels like more effort than it’s worth, but the reality is that it’s one of the most important and beneficial things you can do. Goals benefit you in eight specific ways.

1 - Goals help you gain closure on the previous year 

The word “closure” may feel touchy-feely but it’s a real thing. The 2nd definition of the word is: a comforting or satisfying sense of finality. As we review the past year in preparation for setting goals for the new year, we are able to close that chapter, with all its good and bad, and move forward. An annual review of this type could include:

• Did you hit your goals?
• Did you misjudge something or make significant mistakes?
• Did you experience an unexpected success?
• What did you do right?
• Are there areas where improvement or additional training is needed?

2 - Goals help you identify your opportunities

As you look toward where you want to be, you’re able to assess all the opportunities and zero-in on the ones that are right for you or your company. This helps you to strategically plan the steps that will be required to reach those goals.

3 - Setting goals forces you to decide what is important (prioritize)

Once you see where you want to go you’ll be faced with the challenge of deciding which of the many things you want to accomplish is going to come first. This kind of prioritization is critical for staying on track and taking your destiny into your own hands through strategic action. You move forward, faster when you know what steps to take, in what order.

4 - Goals enable you to be grateful for what you have (or have accomplished)

As you assess the past year and look forward to where you want to be in the future, you’ll begin to recognize all the good things that are a reality in your situation. Gratitude is a powerful force for good, enabling you to appreciate and make the most of what you have so that you can build on it strategically.

5 - Goal-setting provides focus

It was Henry Ford who famously said, “If you aim at nothing you’re sure to hit it.” The opposite is true as well. If you know what you’re aiming for you’re able to move toward it with greater effectiveness and intention. Goals help you keep your eyes on the RIGHT target as distractions and unworthy opportunities come knocking.

6 - Goals allow you to say “No” more effectively

Building on the previous point, you need to be able to effectively evaluate the opportunities that come your way so that you can know what to devote your time, energy, and resources to — and what is not a wise use of them. When you can answer the simple question, “Does this opportunity help me accomplish my goals?” you can more easily say “no” to the right things.

7 - Goals let you know if you have won

With business and life being an ongoing cycle it’s good to have checkpoints along the way to assess progress. A time of review and goal-setting enables you to look at the things you wanted to accomplish in the past and determine if you did or not. When you are able to see clear wins that have come from your planning and efforts, it’s motivating and empowering.

8 - Annual goals set you up for the next 3 to 5 years

Because goal-setting is future based, it sets you up for success in the future rather than leaving it all up to chance. You’re able to take intentional action that leads toward the destination you desire. As you set goals year after year, they will build on each other and you’ll begin to develop a greater vision that extends further into the future.

What goals will you set for 2022?

If you haven’t already, set aside an hour or two over the next week to assess your past year and set goals for the new year. If you don’t plan how you will attain the success you desire, it’s not likely to happen. Let us know what goals you’ve set for yourself and your company! We’d love to cheer you on! And if you haven’t heard the podcast episode based around these 8 points, be sure you listen!

BAM!