GOAL SETTING FOR THE NEW YEAR
by Megana Ramaswami·
The New Year is here and for many business owners (ourselves included!) it means a time to reflect on the past year and dream big for the future.
The saying fail to plan, plan to fail is not only a tad cheesy, it’s true. As a business owner, you are responsible for wearing a variety of different hats and as you grow in the lash industry, it is important to take the time to set goals for your business.
A goal should be S.M.A.R.T., which means:
Here are some tips from Lash Line when it comes to setting your goals for your lash business in 2021 and beyond!
1. Write it Down!
The first step in effectively setting goals is to put your goals on paper. It’s helpful to start with your BIG goals and then break them down into actionable items that you can work towards each week, month and quarter.
For example, if your goal is to gain five new lash clients per month, think backwards. If you know you want five clients consider:
- What marketing do you need to put in place in order to attract those clients? (i.e. Facebook ads, Instagram posts, website updates).
- What is the value of that new client to your business? Your marketing efforts should not only break-even, but earn additional revenue to your business.
When it comes to goal setting, it is so important to be realistic with yourself and your business. Know that not everything goes as planned and it is important to have a contingency plan along the way.
Think of your WORST case scenarios. For example, what would happen if you were sick for a few weeks and couldn’t service your clients? What would that look like for your business?
While no one wants to plan for the worst, it is important to keep in mind as a business owner. Having a contingency plan in place will allow you to better react and support your business in times of hardship (if they happen).
2. Set Metrics
Marketing without data is like driving with your eyes closed - Dan Zarrella
The same goes for any goal with your business. If you can’t measure it, you can’t improve it. It’s important to set realistic metrics behind your goals. For example, if you know that you want to reach new clients, set metrics around your marketing efforts.
This could include:
- The number of new vs. returning clients to your website
- The number of followers on your social media each month
- The number of phone calls you receive with inquiries
- The number of contact forms completed on your website
- The number of appointment bookings
It is important to measure your efforts in relation to your goals on at least a monthly basis. This will allow you to tweak your efforts and amend your goals if necessary.
Maybe you set a goal to earn $100,000 in revenue for your lash business by the end of 2021 and you’ve already hit that goal by July 31. What does that mean? It’s time to re-evaluate and DREAM BIGGER.
It’s important that your goals are constantly being re-evaluated for your business.
When it comes to re-evaluation, consider:
- Are there any roadblocks when it comes to the goals you initially set for yourself and your business?
- What resources are missing to help you reach your goals?
- Is there something “bigger” missing from your original goals?
- What does my progress tell me about how achievable my targets are?
At Lash Line, we are here for you every step of the way! We know what it takes to run a successful lash business and the importance of having a supportive community around you.
Reach out to us with any questions you may have about growing your business and stay in touch with us on social media!
Wishing you all the success!
Cara and Jessi