This article was published on January 9th, 2020
Mind your business! Being a queer business owner has a lot of perks, ebbs and flows. It’s always great to set goals, but are you able to achieve them? Perhaps you need the right tools to take your business to the next level, or maybe you’re just looking for advice to propel your business to new successes. Here is your 5-step guide to getting your gay business on track in 2020.
1. Take Inventory
Make a list of your accomplishments in the last 12 months so you can zoom in on what made a positive impact. Highlight the important lessons, achievements, and transformations that come to mind. Once you write down your initial thoughts, invite feedback from your team to add insights and consider different perspectives. To complete this step, reflect on your list of highlights and underline what stands out.
2. Identify Improvement Areas
Before you take action on any plan, you need to have a clear starting point so you can identify the gaps between where you are and where you want your business to be. If you have a team, engage them in the process as well by gathering ideas from all your key people. While you may feel some resistance to initiating this step because it sounds time intensive, the result is worth it and you can complete it within 30-45 minutes.
3. Set Actionable Goals
The next step is to set actionable goals. Write down one to three actionable goals (maximum) you want to achieve in each quarter over the next year. Limiting the number of goals you set is important so you can narrow the focus on what matters most and avoid stretching resources too thin.
To make goals actionable, you need to be able to turn each one into a project that can be broken down into specific tasks you can schedule, delegate, and complete within the next 90 days. Set goals that are smart, meaningful, attainable, timed, and essential to your priorities.
To complete this step, write down the list of goals you want to accomplish this year and highlight one to three you want to focus on accomplishing in the next 90 days.
4. Turn Goals Into Projects
Break the goals you’ve set for the next 90 days down into projects and make a list of action steps that can be scheduled, assigned and tracked until completion. Use each goal as the title of every project you need to complete.
To complete this step, write out your list of action steps for each goal and turn your goals into projects. Schedule all the tasks that need to be completed and track your progress weekly.
5. Schedule Quarterly Reviews
Block time in your calendar to review your progress and financial reports every quarter so you can identify what’s working, what’s not and make changes proactively. The greatest obstacle to achieving your desired results is becoming discouraged if goals take longer than expected to achieve and losing sight of what matters most as a result. Use your quarterly review to remind you of your vision and organize day-to-day activities as needed to stay on track. Celebrate the small wins along the way to fuel motivation.
Remember, it’s not about perfection; it’s about incremental progress. Don’t overthink it. Reaching goals is never a straight line. Regular reviews are essential so you can tweak priorities and adjust tasks along the way to keep improving.
Take Your Business to the Next Level
For more business and accounting advice, HomoCulture’s very own accountant is a fountain of help, knowledge, and information to aid you in your business stability and growth. Debrah Burleigh & Associates is a great firm servicing the LGBT community. Request a consultation today.