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If December is a month for reflection and contemplation—a time to look back—January is ideal to plan and set goals for the future—an opportunity to look forward. In an oft-quoted line, Hemingway wrote that “there is nothing noble in being superior to your fellow man; true nobility is being superior to your former self.”
So what would you like to do this year that you haven’t done before? What would you like to do better?
This can seem daunting, especially as you think about your business and how to take advantage of all the opportunities that a new year can bring. Fortunately, we have some helpful suggestions to assist in your planning for 2019.
One thing to remember is that it is important to involve your entire team in planning—everyone should be able to claim some ownership—and every team member should also be accountable in the realization of that planning. For this reason, team meetings are helpful, even crucial, in planning and goal-setting.
A great way to wrap your heads around all of the possibilities and establish a foundation for goal-setting is to first conduct a SWOT analysis.
For a SWOT analysis, your team should objectively consider the strengths, weaknesses, opportunities and threats for your business and one or two of your top competitors. It is important to try to be as objective and realistic as possible in this analysis. To help with this, a Google search will reveal many useful, free SWOT templates online. And it is also important to remember that you and all of your team members should be involved. This will provide a comprehensive list and keep ideas fresh.
Your compiled SWOT analysis will give you insight into the environment in which your business operates, and this insight can provide the foundation for your goals. Additionally, don’t be afraid to look at businesses outside of our industry for inspiration. Regardless, though, goals that aren’t specific or realistic will do little to drive your business in a new year. That is why they should be SMART.
SMART is an acronym intended to help you set goals that will make a positive difference for your business. Ensure that your goals for 2019 and beyond have these attributes:
Specific Don’t just say, “I want to grow my business.” Push further. Say, “I want to grow my business by 10 compounds per day.” Or say, “I want to increase profit margins by 10%.” Write down the what, the why, and the how.
Measurable In the previous examples, “10 compounds” and “30%” are measurable. If your goals are quantifiable, they will be specific, and it will be easier to determine if and when you achieve them. This data can help in future goal-setting as well.
Attainable Goals should be realistic. Challenge yourself, but don’t stretch yourself too thin. If your goals aren’t reasonable, you will set yourself up for failure.
Relevant Always ensure that your goals are relevant to the success of your business and your team. If they’re relevant, achieving your goals should result in growth or improvement.
Time Bound Goals that have no definite time limits often derail. To keep yourself on track, set time boundaries. You can have annual goals, quarterly goals, and even monthly or weekly goals. And having quarterly or monthly goals allows you to revise and make course corrections in the event of the unexpected. That is, they don’t have to be set in stone.
As you develop your SMART goals, make sure that they are in writing and that your team members are familiar with them. The more people who know your goals, the more likely it is that you will achieve them.
In the even that you don’t meet your goals, go back and reflect on them. Try to determine why you were unable to meet them. Use this information to see how you can start again and what you can do differently. In other words, it is a learning opportunity.
We hope that 2019 is your best year yet, and that you continue to bring the art and science of creating personalized medicine to patients for the betterment of their lives. Here’s to another wonderful year!
A version of this article was originally published the January 2016 issue of the Apothagram, PCCA’s members-only magazine.