Tammy Tantalizing Tacos’ top line financial goal is to increase her annual revenue by 10%. How will she achieve her financial goal? To sell more tacos. In order to sell more tacos, what must she do from her customers’ perspective? Provide great customer service. And what does she need to do to deliver great customer service? Have efficient processes that deliver food quickly. And how does she excel at quick food delivery? By having well-trained employees.
Use the following criteria when evaluating each objective:
- Is my objective broad and non-measurable?
- Is my objective continuous, ongoing, and non-dated?
- Does it convert my mission/vision into action?
- Does it help to sustain my competitive advantage?
- Financial Growth: To exceed $10 million in the next ten years.
- Financial Growth: To increase revenue by 10% annually.
- Financial Growth: To increase gross profit by 10% annually.
- Financial Growth: To increase sales by 10% annually.
- Financial Efficiency: To decrease expenses by 5%.
- Financial Efficiency: To increase net profit by 10%.annually.
- Financial Efficiency: To improve overall efficiency as measured by throughput.
- Financial Efficiency: To improve overall productivity (doing more with what you have).
- Current Customer: Expand sales to existing customers.
- Current Customer: Increase customer retention.
- Current Customer: Increase customer loyalty.
- Current Customer: Cross sell existing products/services to current clients.
- Current Customer: Achieve and maintain outstanding customer service.
- Current Customer: Develop and use a customer database.
- Current Customer: Anticipate future customer needs through customer feedback.
- New Customer: Introduce existing products into a new market.
- New Customer: Introduce new products to new and existing markets.
- New Customer: Anticipate future customer needs through customer feedback.
- New Customer: To expand sales to the global marketplace.
- Customer Service: Improve our service approach for new and existing customers.
- Product/Service/Program Mngt: To have all product meet standard of excellence guidelines. (Some businesses prefer to list their individual product or service as separate objectives.)
- Operations Mngt: To continually improve internal process to realize efficiencies.
- Operations Mngt: Capitalize on physical facilities (location, capacity, etc.).
- Operations Mngt: Improve organizational structure.
- Operations Mngt: Redirect or restructure available resources.
- Operations Mngt: Increase community outreach.
- Technology Mngt: Increase efficiencies through use of wireless or virtual technology.
- Technology Mngt: To successfully implement and realize benefits from our computer and software systems.
- Communication Mngt: Improve internal communications.
- Customer Mngt: Acquire enhanced CRM data mining capabilities.
- Customer Mngt: To execute and maintain a CRM process that is producing results.
- Marketing Mngt: To continuously broaden our customer database by obtaining new information on customer characteristics and needs.
- Marketing Mngt: Develop and implement a promotional plan to drive increased business.
- Marketing Mngt: Improve marketing, advertising and public relations.
- Alliance Mngt: Establish one new strategic alliance annually.
- Channel Mngt: To aggressively strengthen our upstream channels.
- Channel Mngt: Improve distributor and/or supplier relationships.
- People: To hire, develop and maintain the right people, in the right “seats on the bus.”
- People: Employ professionals who create success for customers.
- Training: Develop broad set of skills useful for customer support.
- Training: To develop the leadership abilities and potential of our team.
- Culture: To align incentives and staff rewards with performance.
- Knowledge: Transfer knowledge from leading-edge clients.
- Knowledge: To continually learn and adopt current best practices.