Want to kick profitability into high gear? Then, set goals for your dry-cleaning business in 2019. It’s a critical activity you should undertake annually to get the most out of your business for the year. It’s also a proven strategy that can help create a competitive advantage.
Setting goals works. It provides direction for your business. It keeps you focused on what’s important. And it sets the stage for ongoing success. More importantly, it forces you to refine the strategies you’re using to run your business. Just make sure the goals make sense for your business and that you revisit the process periodically.
Setting Goals is a Challenge
Setting goals is a challenge if you’re new to it. Key steps in the process include breaking down your goals into bite-sized pieces, tracking progress, owning the process, building a support system, and staying flexible.
Additional keys to setting goals include:
- Keep your eyes on the prize
- Accept imperfection
- Be ready to change directions
- Keep moving forward
- Think positively
- Celebrate your successes
This article provides more help with setting goals that will keep you from floundering when doing it.
Examples of Annual Goals
Below are examples of goals that can help you drive profitability. But some goals will work better for you than others. So, pick a few from the list, then turn them into SMART goals before you incorporate them into your business. SMART goals are Specific, Measurable, Achievable, Relevant, and Time-Bound:
- Cut business expenses — Cutting expenses boosts your bottom line directly. Often, it’s the difference between finishing in the red or the black. Just make sure you spell out exactly how you’re going to do it. Then, develop strategies to achieve the goal
- Pump up productivity — Increasing productivity inflates the bottom line directly. Using productivity apps, for example, can help you boost productivity. Other suggestions for increasing productivity include improving the way you use email and reducing employees use of cell phones in-store.
- Enhance customer service — Enhancing customer service is another way to kick profitability into high gear. So, set a goal of delivering epic customers service. Adding new business services, like home delivery, is one way to do it.
- Boost traffic to your website — increased traffic to your site boosts sales and customer loyalty. Many ways exist to skin this cat, like implementing a solid content marketing strategy. If your site lacks a blog, for example, start one.
- Reduce paperwork — Going paperless isn’t right for everyone, so review the pros and cons of doing it before you choose this as a goal. Going paperless cuts costs and boosts productivity. That, in turn, pumps up the bottom line.
- Increase your share of the market — Boosting market share increases competitiveness and profitability. But before you try to do this, do some market research to determine what strategies will work. Five ways to increase market share includes:
- Stay relevant by innovating
- Increase responsiveness to customers
- Use ideas suggested by consumers
- Buy competitive dry cleaners
- Stay flexible to seize new marketing opportunities
But if you really want to kick profitability into high gear, install a dry-cleaning POS software system like Enlite’s. That strategy gives you a head start in achieving many of these goals discussed above if not all of them. It also puts you in control of your business without costing you an arm and a leg.