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HOW TO SET GOALS IN 2021

It's hard to set goals for 2021 coming out of a year like 2020.
 
We get it. 2020 was like no other. Something we could have never imagined and certainly never planned for.
 
A new approach to planning is necessary for this year because there are still many unknowns.
 
A vaccine has been developed, but the timeline for distribution has had its challenges. It will be a while before the general public has the opportunity to be vaccinated, so it's pretty much guaranteed we will be playing the COVID game well into the first half of this year.
 
So the answer to goal setting in 2021 is this: You will need to plan differently by breaking down the year into bite-sized chunks.
 
PLAN BY THE QUARTER
When you think about March 2020, you had no visibility about the future of Q2. As businesses started to open back up in mid Q2, you got a peek into Q3 and what a new normal would look like.
 
By the time we got to Q4, businesses had innovated and pivoted and started to see more clearly what Q1 of 2021 might hold. You may not have liked it, but at least you had more visibility than in previous quarters.
 
For this year, think about planning by the quarter.
 
If you are an Ohio-based seasonal business - such as landscaping or restaurants - the winter months may typically be slower anyway. But the demand for these services might be even bigger than usual as the weather gets warmer, the vaccine is more widely available, and people feel more comfortable (and just need to) get out of the house.
 
The key to planning this year is to remain flexible, know that things will change, and be ready when they do.
 
CHANGE YOUR PERSPECTIVE ON INNOVATION
In 2020, the pandemic forced many businesses into defensive innovation. They were reactionary, and had to figure out alternative ways to deliver their products and services, keep employees employed, and to otherwise stay in business.
 
In 2021, we have an opportunity for offensive innovation - to choose to innovate instead of being forced to do it.
 
To innovate in 2021, consider the possibilities. Ask your customers what they want and ask your employees what they think. Develop a plan, and execute.
 
Examples of innovation include working from home capabilities, teleconferencing and telemedicine. Restaurants and retail establishments offer curbside pickup and delivery of their products.
 
Like many other businesses, Gerber was forced into defensive innovation in 2021, but this year we're on the offensive. Gerber's offensive innovation resulted in upgrading our technology so our employees could work from anywhere. We developed an asynchronous EEE program, and engaged Salesforce to automate large parts of our business to innovate to the next level. We created an internal production studio and participated and hosted more webinars than ever before. We now give our clients to option to meet in person or virtually. These are just some of the ways we chose to innovate this year.
 
Stop being held hostage in 2020's innovation mentality. In 2021 and beyond, use offensive innovation to move the needle on your business!
 
THE PARTS OF GOAL SETTING THAT REMAIN THE SAME
While you won't be able to plan too far ahead, there are some annual disciplines you should continue to engage in this year.
  • Having a written business plan. Plan by the quarter, and be ready for changes
  • Know your core values. We preached it all of last year. If you hadn't identified your core values before 2020, chances are you know them now. While planning quarter by quarter, keep your core values front and center with each business decision you make
  • Prioritize cash as king. If 2020 taught us anything, it's that you need to have liquidity on your balance sheet. Watch for more blogs about this topic in 2021
  • Integrate your personal and business life. It's essential to your overall productivity and happiness that you carve out time for the things that matter in your personal life. This means spending time with family, friends, hobbies and making time for self-care
 
As with previous years, the Gerber team is here to help you with your goal setting plans for 2021 - a year that's shaping to be a "come back" year for all of us as entrepreneurs, as well as for our county and the whole world.
 
What are your 2021 goals for Q1? Share with us on Facebook, LinkedIn and Twitter!


INDEX
  • THE COVID-INSPIRED SPIKE IN ENTREPRENEURIALISM
  • THE PROS AND CONS OF OUTSOURCING YOUR FINANCE AND ACCOUNTING SERVICE
  • HOW TO SET GOALS IN 2021
  • THE LEADERSHIP EVOLUTION OF YOUR BUSINESS
  • HOW TO GET THE MOST OUT OF YOUR ADVISORY BOARD
  • THE PANDEMIC-INDUCED INNOVATION OF MEETINGS
  • HOW TO USE THE 8 P'S OF MARKETING TO GROW YOUR BUSINESS
  • BEST PRACTICES FOR COLLEGE FINANCING
  • SCALING A BUSINESS - ARE YOU READY?
  • THE HALFWAY POINT: IT'S TIME TO REVISIT THOSE BUSINESS GOALS
  • GROWTH WITH PURPOSE: SUCCESSION PLANNING
  • GROWTH WITH PURPOSE: EVOLUTION OF FAMILY LIFE
  • GROWTH WITH PURPOSE: FINANCIAL RISK
  • GROWTH WITH PURPOSE: INTEGRATION
  • GROWTH WITH PURPOSE: WHY ARE YOU GROWING YOUR COMPANY?
  • GOAL SETTING 2020: HOW TO KEEP YOUR GOALS FRONT AND CENTER ALL YEAR LONG
  • ASK GERBER: HOW TO STAY LASER FOCUSED DURING THE HOLIDAYS
  • Ask Gerber: How to Identify Your Business's Culture When You Don't Think You Have One
  • Ask Gerber: When Should I Hire a Professional Manager?
  • Ask Gerber: Should You Mix Business with Friendship?
  • ASK GERBER: HOW DO I ESCAPE THE ENTREPRENEURIAL SLUMP OF FEELING TRAPPED IN MY BUSINESS?
  • ASK GERBER: HOW CAN ENTREPRENEURS CREATE SHARED EXPERIENCES WITH THEIR CHILDREN?
  • Ask Gerber: How Can I Recognize Permanent Failure as an Entrepreneur?
  • Ask Gerber: How Can I Recognize and Overcome Temporary Failures?
  • ASK GERBER: HOW DO I HELP EASE EMPLOYEE STRESS DURING BUSY SEASON?
  • ASK GERBER: DO I NEED TO HIRE HR?
  • ASK GERBER : DO I NEED A CEO?
  • ASK GERBER: DO I NEED TO HIRE A COO?
  • ASK GERBER: DO I NEED TO HIRE A CMO?
  • ASK GERBER: DO I NEED TO HIRE A CFO?
  • ASK GERBER: HOW DO I KEEP PASSION AND PROFITS TOP OF MIND IN MY BUSINESS?
  • ASK GERBER: WHY DO I NEED TO INVEST IN HOSTING AN ANNUAL RETREAT FOR MY TEAM?
  • ASK GERBER: HOW CAN I ENGAGE WITH MY CLIENTS/PROSPECTS WITHOUT BREAKING THE BANK?
  • ASK GERBER: WHAT IS A CLIENT SERVICE MATRIX? PART DEUX
  • ASK GERBER: WHAT IS A CLIENT SERVICE MATRIX? PART ONE
  • ASK GERBER: THE HIRING PROCESS. WHY IS IT SO DAMN HARD?
  • ASK GERBER: WHY IT'S IMPORTANT TO KNOW AND GROW YOUR COMPANY CULTURE
  • ASK GERBER: HOW DO I ACHIEVE THE WORK/LIFE BALANCE AS A BUSY ENTREPRENEUR?
  • ASK GERBER: HOW DO I PREPARE MY FRIENDS FOR LIFE AS AN ENTREPRENEUR?
  • ASK GERBER: FIRST GENERATION ENTREPRENEURS AND BUSINESS EXECUTIVES, HOW ARE THEY DIFFERENT?
  • ASK GERBER: I PUT SO MUCH OF MYSELF INTO MY BUSINESS THAT I WORRY I AM FALLING SHORT AS A SPOUSE AND PARENT. WHAT CAN I DO?
  • ASK GERBER: ARE CHILDREN OF FIRST-GENERATION ENTREPRENEURS MORE LIKELY TO BE SPOILED?
  • ASK GERBER: WHAT'S YOUR STANCE ON REMOTE ACCESS FOR EMPLOYEES?
  • ASK GERBER: WHEN DO I NEED TO HIRE AN ADMINISTRATIVE ASSISTANT?
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