One of the biggest mistakes that small business owners make at the beginning of each year is setting goals that are unclear or unattainable for their businesses. Taking the time to set goals each year is critical for a successful business. T & L Laundry Equipment knows that having realistic goals is essential for running a great coin-op, commercial or hotel laundry. Starting a new year off with a fresh list of to-do's ahead of you feels good and is very motivating. It's easy to go overboard with things that you want to accomplish in 2017. How do you avoid this pitfall? We've made a list of a few things to avoid when planning your goals for the new year.
The most common mistake that small business owners make when they choose their goals for the new year is not taking into account the resources that will be needed to accomplish their goals. These can be budget needs or staffing needs. Financial resources must be available to see the project through to completion. Starting a goal that requires finances without adequate funds is a trap that many small businesses fall into. If your goals are based on additional staff - ensure that you allow enough time to hire and train new people. The most common reason that business goals fail is lack of resources.
Small business owners get caught in the 'Perfect Time Trap' - or waiting until things line up just right to begin. The truth is, there is never a perfect time. Many times the reason small business owners don't start a new goal or make a list of goals is because they feel overwhelmed. The problem is that the longer you wait to start, the more time you've actually wasted. If you need help jump starting your goal list, ask your employees or other small business owners for ideas of what they are focusing on for their businesses. It may not apply directly to your laundromat, but it may spark an idea and your list of goals will essentially write itself.
Make sure that your goals are SMART goals. SMART goals are specific, measurable, attainable, realistic and time-focused. Make sure that you check your goals against this list before diving in. If they don't meet this criteria, you may need to revise your goals. Often, goals seem too general. Don't just say you'd like to open a new location. Be more specific with that goal: Find a location for a new laundromat by February 28th. The more specific you can be, the more accurate you can be when fulfilling your goals. This helps you avoid wasting time, energy and resources.
Work on your goals every day. Small progress is still progress! Set time aside each and every day to move forward with your goals. Working daily, weekly or monthly will help you achieve your year long goals successfully. If one of those goals is to create an additional source of income in your business then it might be a good time to consider opening another location or adding vending machines to your coin-op.
Don't miss the next post in this series. We'll be covering even more business mistakes to avoid in 2017!
Financing For Coin Operated Laundry Equipment in Charlotte, NC
The experts at T & L Laundry Equipment have over 40 years of experience in the vended and commercial laundry business. We specialize in products for your entire property - not just coin operated laundry equipment in Charlotte, NC! With convenient in-house financing and a wide range of used equipment available - T & L has exactly what your business needs to meet your goals in 2017. Give us a call today and let us show you how you can save money with new energy star rated equipment and make money in 2017!
