Goals: The New Year’s Resolution for Business by HGBA Spotlight Member, Stephen D. Lofaso, Esq.

Around this time each year, we, as individuals, resolve to change ourselves in some manner or form. Normally, we attempt, and usually fail, to overcome that one vice which continuously plagues us year after year. Whether it is quitting drinking libations, losing those five pounds of fat so we can get into our favorite pair of pants, or getting over our insatiable appetite for our crazy uncle’s “Turducken Sandwich Surprise” (which, by the way, may have something to do with our inability to lose those five pounds), we all try our hardest to give up that one nagging vice one way or another. However, no matter how strong our will and our motivation most years we fail.

We do not easily see the reason for our failure. Normally, we become content to live with our unfulfilled resolution for another year. We rationalize our failure by categorizing our goal as too lofty or our vice as too difficult to overcome. However, the real reason for our failure lies with our inability to see our real objective, properly. We set a goal of quitting things or losing weight rather than a goal of living healthier. If we set our goal as living a healthier lifestyle, we realize giving up those scrumptious sandwiches is merely a process towards achieving our real desire. This realization gives us focus to accomplish our real goal thus improving our chance at success. This same rule applies to business.

When one asks businesses what their goals are for the upcoming year, businesses give many different responses. Some businesses say they plan to roll out a new product as their goal. Others resolve to become more active in the community in order to generate good public relations. Yet, even others claim their goal is to develop better customer service. Whatever the response these businesses miss the point and the real goal. By years end, they normally cannot figure out why their business failed to grow. They introduced the newest and best product. They became involved in the community and had a real impact. They redoubled their efforts at customer service. Yet at years end, the income statement and balance sheet did not improve the way the business had hoped.

The business failed to grow because the business failed to set the correct goal, which for every business is simple. Make more money! Is not that the reasoning for the new product, the new public relations campaign, the new focus on customer service? Like the individual trying to lose five pounds rather than living healthier, they resolved to accomplish a process not a goal. By focusing your business on the proper goal, the processes helping you reach that goal, the new product, the PR campaign, the new focus on customer service become purposeful actions toward a grander goal rather than a means with no focus of the true end.

So this year, after your done stuffing those leftovers into that belly you swear you are going to lose this year, make a goal of growth for your business to help you and your employees gain focus and you will be halfway to a successful and profitable business year.

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