Goals attached to numbers.
WHAT A USEFUL TARGET IS
Specific Based on your own history Achievable with effort Attached to a decision
WHAT TO BASE IT ON
Your own previous performance.
Not industry figures, which vary enormously and rarely apply.
HOW TO SET ONE
Look at the last several periods Set a modest improvement Establish what would need to change to achieve it
THAT LAST STEP
The one that makes a target real rather than aspirational.
WHAT TO AVOID
Targets nobody believes Targets that cannot be influenced Targets that encourage the wrong behaviour
THAT LAST POINT
A revenue target with no margin target produces discounting.
WHAT TO PAIR
Volume with quality. Revenue with margin. Speed with accuracy.
WHAT TO REVIEW
Monthly against target, quarterly against trend.
WHAT A MISSED TARGET MEANS
Investigate before reacting.
Frequently seasonal, or a single event.
