We all have dreams and big goals in life. There are things we want to accomplish, but most of these goals require a series of small steps. The same could be said about a business, you need a list of business short term goals to reach your business objectives.
Think of it as climbing a ladder or stairs. Setting a big goal is like looking ahead of them and seeing where you want to go.
But could you go to that place or destination without having the first or shorter steps?
No right, this is the same for businesses. You need to take smaller steps to go to where you want to be.
Business Short Term Goals
So here are some of the examples of business short-term goals that you and your company sales team could start or do in a short amount of time.
I just want to remind you that most of these will apply to online businesses, but most businesses today are already on the internet anyways or have some kind of presence in the digital world.
But if your business is not on the internet, then the first short-term goal that I could suggest is making your presence known online.
This will drive more customers to your business by adding brand awareness, generating leads, and driving online sales.
Now, let’s proceed with our list.
1. Start a Blog or Update Regularly
Online businesses fall into various categories that cater to the needs or wants of people, making them operate in different ways.
But they all have similarities, and that is that they want to attract customers or users of their products and services.
The way to do this is to appear everywhere in the online world, reaching more people. Although, is being seen enough?
You want them to purchase your product and services.
To do this you have to demonstrate the product or service or to show that
you have the information or knowledge they are looking for.
And there is no better way to do this than to start a blog and update it regularly.
A blog helps your business by:
Establishing authority in your niche.
Boosting visibility or SEO.
Promoting your products or services.
Keeping your audience updated.
Having a blog is like having millions of robot assistants that will distribute your content, message, or product to the world for free.
As long as you did it right.
2. Increase Social Media Engagement
In today’s age, it almost feels like we have two worlds. The physical world is where we eat, sleep, and do some human stuff.
But the other world provides us with a lot more freedom. That is the world of social media where we could be anyone we want.
You can express yourself in any way you want.
You can be anonymous.
You can be popular without meeting an entire group of people in real life.
And these are the reasons why this is also important in business. Before the world of social media came, we meet people in real life and connect with them to have a business.
Now we can reach more people than ever with the help of social media.
Here are some of the advantages of social media engagements:
3. Launch a New Digital Product
If you have a physical business such as a coffee shop, clothing store, or anything else that requires you to hand over the product or service in person, must try to create a digital product.
Digital products are one of the most flexible products you can sell.
For example, if you have a coffee shop and the customer wanted an ingredient that you don’t have to be added to it, then you won’t be able to satisfy that customer at that exact moment.
But if you are selling a digital product, and you notice that your client wanted to have this feature, you can easily create and add this feature to the product and change it just like that.
Of course, this requires some knowledge but you can’t sell a product or service without knowing a lot about it.
Launching a digital product gives your business the following benefits:
Access to a global market
4. Grow the Email Subscriber List
The first thing I want to say, this series of thoughts is incredibly important for your business’s success and future, so I hope you read it from start to end.
There are several different platforms that online businesses could use to
market their products or services.
It could also be websites and the use of SEO to appear in search engine result pages.
But all of these platforms have one thing in common.
Once you establish your business on them, you are reliant on the platform.
What does this mean?
It means your success is greatly dependent on the channel that you chose.
For example, you have 250k monthly organic traffic on Google. But as all people who have done SEO know, this traffic could be up and down.
The same could be said for the other platforms.
You could be one Google update away from losing half of that traffic, or if YouTube banned your account for some reason.
A lot of variables are not in your control. Making you reliant on the platform you chose.
But what about the email list that you have built over time?
The emails you have collected, as long as you did it right according to the laws of your country, then nothing could take that away from you or your business.
Just like social media and the other channels you could build relationships with your audience with the email list.
It is one of the most fail-safe ways of marketing.
Here are some more lists of benefits of email marketing:
Ownership of the email list
5. Improve Website Conversion Rates
You could have all the website traffic there is available in the world.
Or Instagram followers as much as Messi.
But if your conversion rates are low or even zero, then you are not maximizing the amount of profit you could get with your platform.
Conversion rates are the percentage of people who purchase your product or services divided by the total amount of people who have seen the product.
It is not possible to have a 100% conversion rate. Some people will just not buy your product or service no matter how valuable it is.
Conversion rates depict the quality of users you are reaching.
A higher conversion rate means that you have reached the right audience for the product or service, while a lower rate meant the opposite.
Higher conversion rates bring a range of benefits to your business:
Improved Customer Insights
Better ROI or return on investments
6. Expand Product Listings
This business’s short-term goal is easily understandable.
The goal means the more products you can offer the more customers you could get.
One product could fail, or even most of it could fail.
But if you had at least one successful product or service out of all the listings you have, you will still have the chance to bring more customers to your business.
The more product listings you have, the more chance you could get at being successful.
Just remember to be flexible, if one product or service is not working then you could shift your focus to the ones that are.
Here are some additional benefits of expanding product listings:
Diversified Revenue Stream
Larger Customer Base
Boosts Brand Image
7. Invest in Self-Development
Out of the smart goals, the 7 short-term goals that we discuss, this one is the most impactful.
Your business could only go as far as you can.
This means you have to take care and improve yourself, to also take care and improve your business.
This not only means physical but also mental all aspects of well-being
You have to improve yourself and your skills to improve your business productivity.
So, if you think that going to the gym or going for a walk takes away your time from your business then you are wrong.
Those are the foundation of a great business because you are the most integral part of it.
So, take care of yourself.
And strive to be the best version of yourself.
Frequently Asked Questions
What are business short-term goals for startups?
Short-term goals for startups are goals that can be achieved in less than a year or a shorter time or fiscal year span.
Here are some examples:
Validating the MVP or minimum viable product.
Acquiring your first customer or users of the product or services.
Getting initial funding.
Achieving a certain amount of profit or revenue.
Building a great and dedicated team.
Is brand awareness a short-term goal?
Brand awareness is both a short-term business goal and a long-term goal.
You should set a definitive number of users or clients you want to reach for both the short term and the long term.
For example, you could set a short-term goal of reaching 100 viewers a day on your website.
Or you could set a goal of 100,000 sessions a month which most likely will take a year or two.
This depends on your definition of brand awareness and your goals and plans for success.
What is a short-term goal for a product?
A short-term goal for a product will revolve around the process of its creation and marketing.
Here are some examples of setting short term goals for a product:
Launching the product.
Achieving initial sales target.
Getting a certain number of users or customers.
Expanding the product into new markets.
Improving the product based on customer feedback.
Short-term goals are arguably more important than long-term goals.
Because it does not matter if you know the destination of where you want to go if you don’t have a way to get there.
They serve as the stepping stones that will pave the way for your success in the long run.
They provide direction and make sure that you are on the right path.
Remember this; any journey begins with a single step no matter how long. You can’t go anywhere without first taking it.
Achieving each of the short-term goals that you set, no matter how small or inconsequential they are brings you closer to the top of the ultimate goal.
So, cheers to your small wins, and thank you for taking the time to read this!
Have a great day!
As a professional web and software developer, the author possesses a strong foundational background in Computer Science. This equips him with both academic rigor and practical insights into the world of web-based entrepreneurship. As the founder of this platform, webpreneurships.com, he stands at the intersection of technology and business.