Each person engaging in gambling is sure if winning every time. But lo and behold the reverse is the case. So is the person or a business owner who sets goals without a budget.
The current wave for the new year is setting goals, setting targets, smashing goals and the likes. It is good but…
May I ask you the smashing goals you set last year, 2018 was executed at what percentage? I mean how many items were you able to do.
Were you able to review the 2018 goals? If yes, what were the lessons learnt. And what clear cut actions have you taken towards getting it right?
When your answer is no. Don’t you think you are conforming to a definition of madness. I don’t mean to insult you! It is just that certain character conforms to a definition.
Madness is doing the same thing again and again and expecting a different result.
What brought madness here. Any way, fast forward. Goal setting is developing a system based on your knowledge in a particular business that’s know + edge. What you know that gives you edge.
Goals are beyond stating 7 points agenda or 4 points agenda. Are you running for an elective position. Beyond the points stated as goals is a system.
According to Business Dictionary, a system is a set of detailed methods, procedures and routines created to carry out a specific activity, perform a duty, or solve a problem.
For example, a budget is one of the critical components of a system. An average person thinks that budget is only about money needed. No, it is not true!
When you are in business either offering goods or services, you need production budget, sales budget, personnel budget, financial budget etc.
Anyway, the point here is for us to understand that goal setting goes with a breakdown of resources (both human and material) needed to achieve it. And if any goal fails, you will be able to trace it and know why?
By next week, we will be discussing “Designing Your Business Process” series.
Again, watch out for the release of Personal Financial Management book.
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Chukwuemeka Ayogu is the founder and Lead Consultant at Countsystem, a service provider in accounting sector in Nigeria, bsiness systems and controller services. He is an Accountant Partner of Accounteer, a cloud based accounting software. He is an experienced service provider with diverse working experiences. He has worked in customer service at Regional Business Unit Nigerian Breweries Plc, Customer Service Representative at Diamond Bank Plc, Principal Partner at Prudential Auditors & Consultants, State manager at Chijgz Resources International and more.