Setting big goals for your business is essential for growth and success, but it can be overwhelming to tackle a large, visionary goal all at once. That’s where breaking down a large goal into smaller, more manageable pieces becomes important. By taking a step-by-step approach, you can achieve any big business goal without getting overwhelmed or losing focus.
In this article, we’ll explore some practical tips for breaking down a large goal into smaller pieces and share some real-world examples of how this approach can lead to success.
Meet GreenWash…
Meet GreenWash, a small business that specializes in eco-friendly cleaning products and who understands how to break down and achieve any Big Business Goal. The company has set an ambitious goal to launch a new product line of natural household cleaners within the next 12 months.
Now – although GreenWash have some ideas on what the product line should look like and the types of products to include, they want to make sure they can be competitive and that their products actually sell.
To enhance their probability for success they are willing to put in the work to understand the market, both in relation to products and customers.
GreenWash has broken the goal down into several major project components, including market research, product design, manufacturing, marketing, and sales.
Within the market research component, GreenWash has identified several key milestones that need to be achieved.
These milestones include conducting a competitive analysis of other natural cleaning products on the market, creating a customer survey to gauge interest in the new product line, and analyzing the survey data to inform product design and marketing decisions.
GreenWash has assigned specific tasks to team members responsible for each area. For example, a team member with expertise in market research is responsible for conducting the competitive analysis, while a marketing specialist is responsible for developing the customer survey questions.
To ensure that the goal stays on track, GreenWash has set realistic deadlines for each project milestone, and is monitoring progress regularly through team meetings and progress reports. When a major milestone is achieved, such as the completion of the competitive analysis, the team celebrates by holding a team lunch to acknowledge the hard work and progress made.
Through this approach, GreenWash is well on its way to achieving its goal of launching a new product line within the next 12 months, while staying focused, motivated, and accountable.
Breaking up your Big Business Goal
Here are some practical steps how to break down and achieve any big business goal into smaller, incremental projects or objectives using the case study of GreenWash as a guide:
Define the overall goal:
Start by defining the large, overarching goal that you want to achieve. For example, if your goal is to launch a new product, define what that intended product is, who you believe the target market for this product will be, and what your overall vision is for the product.
Remember to bring your whole team into the process of setting the goal, otherwise you may struggle with alignment and focus.
Identify the major components:
Break down the overall goal into major, sequential components or areas of focus. For example, if your goal is to launch a new product, the major components might include market research, product design, manufacturing, marketing, and sales.
At this point you will also consider how you will be going about achieving the goal by considering the resources available to accomplish this. This includes a review of the skill and capability of your existing team as well the capacity for the business to take on this undertaking. Here is where you consider bringing in additional resources to increase the odds success.
Create milestones:
Within each major component, get the right team or people to give you a view of what will be necessary to achieve that specific milestone and, considering the available resources and capacity, an estimated time to achieve that milestone.
For example, within the market research component, milestones might include conducting a competitive analysis, creating a customer survey, and analyzing the data.
This is where many goals fail. Without a good understanding of what is needed to achieve the components of a goal it is impossible to plan accordingly.
Assign tasks:
Assign specific tasks to team members or individuals responsible for each milestone. For example, if the competitive analysis is a milestone within the market research component, assign that task to a team member who has expertise in market research.
Set deadlines:
Set realistic deadlines for each milestone and communicate these deadlines to team members. Ensure to plan for the various planning and optimism biases and to create realistic and achievable deadlines.
For example, if the competitive analysis milestone needs to be completed within two weeks, set that as the deadline and communicate this to the team member responsible.
Monitor progress:
Monitor progress regularly to ensure that milestones are being achieved on time and that the project is progressing as planned. For example, hold regular team meetings to discuss progress, identify any challenges or roadblocks, and make any necessary adjustments to the plan.
Celebrate achievements:
Celebrate achievements as each milestone is reached, to keep team members motivated and engaged. For example, hold a team lunch or recognition ceremony when a major milestone is achieved, to acknowledge the hard work and progress made.
Conclusion
Breaking down a big goal into smaller pieces is a crucial step towards achieving success, whether in business or in other areas of life. By taking a step-by-step approach and setting realistic milestones, businesses can make progress towards their goals while avoiding the stress of trying to tackle a large goal all at once.
The benefits of breaking down a big goal into smaller pieces include improved focus, motivation, accountability, and a better chance of success. By celebrating milestones and tracking progress, businesses can stay on track and adjust their approach as needed, leading to a more efficient and effective path towards achieving their ultimate goal.
