Productivity has experienced a boost in recent years, fueling the development of hundreds of goal-tracking apps. Despite this, individuals and businesses find it challenging to achieve their goals. Why? This article will explore this fascinating topic.
Know your goals?
A study conducted by the London Business School offers a thought-provoking figure. Sixty-seven percent of senior managers cannot name the main objectives of their companies.
How can a company achieve its business goals if it doesn’t even know what they are?
When we talk about goals, we are referring not only to financial goals but also to goals related to market growth, process optimization, training and improvement of employee conditions, product launches, etc.
The bottom line is that clear strategic goals must be defined, and once established, they must be shared with all stakeholders.
Writing down goals is not enough
While it’s true that those who write down goals achieve more than those who don’t, it’s also true that up to 40% of people don’t check if such goals have been achieved. Unfortunately, this trend is even worse in companies. According to the 4th Annual Staples National Small Business Survey, 80% of small business owners don’t keep track of their business goals.
There are many theories regarding this behavior. One of them is related to the fear of failure, which makes us feel unable to achieve goals. Consequently, we look for excuses not to review these goals. However, the reasons often go beyond psychology and have to do with the growing complexity of keeping track of business goals.
The importance of goal pacing tracking
Imagine your business is a ship. You have set a goal of traveling from point A to point B. The crew knows the goal, so everyone knows where the ship is going. Don’t you think some key elements are missing from this story?
Correct, it’s not enough to define the goal; it is necessary to establish a deadline date to reach the destination. Moreover, during the journey, the ship must continuously monitor its location and adjust its course if necessary. That’s a simplified definition of goal-tracking.
In the previous example, keeping track of the goal is simple; you can gather the crew on the bridge and look at the GPS to estimate if they will meet the deadline. When it comes to a business, be it small or large, it’s not that simple.
Ideally, each department should meet weekly to track the pace of goals. However, it is easier said than done.
There is no simple way to measure “where the boat is.” We talk about tracking customer calls, emails, KPIs, and more. Some companies use CRMs and goal tracking apps, others use spreadsheets, and others a combination of the above.
This explains why some companies only review results at the end of the quarter or, even worse, at the end of the fiscal year. This is where onPace comes into action.
onPace is an innovative tool that allows you to create a dashboard in just minutes without entering a line of code. These boards enable your team to track goal pacing and adapt strategies to meet changing market conditions.
Forget complicated systems and manual work. OnPace gives you the freedom to track goals whenever you feel like it. Contact us today for more information.