As the new year rolls around, most businesses start a new budget year, usually with targets even higher than last year’s numbers.
Many managers get a little anxious about how they can hit these targets.
So let’s look at some ways that managers can replace worry with strategy and make those impossible targets possible.
There are two different groups who need to be convinced – the first person that needs to be convinced is the manager themselves – the second group is the employees who must hit the targets.
First the manager – Realize that it is possible to hit even higher targets in the year ahead. Hopefully you have had a track record that has already been successful so you can do it. Visualize success – see yourself celebrating at the end of the year – having just surpassed those challenging targets and looking forward to even higher targets the following year.
Next ask yourself the question – what would have had to have happened for you to succussfully have reached or exceeded those targets? Break down the target to understand how it can be achieved – if it is a revenue target – which customer segments can grow? where can prices be increased? how many customer visits will be required? How will your suppliers have to step forward? What kind of help can they provide? How can costs be reduced and waste eliminated? How can productivity be improved?
Next it’s time to get the employees on side – after all they are going to make the numbers happen.
First sit down with key individuals, departments and groups – discuss the goals for the year ahead – acknowledge they will be difficult to achieve and that every contribution will be necessary to make it happen. Ask them for their ideas on how to make it happen – add in your own ideas. Get agreement and buy-in that they are ready to go for it. Then encourage them and offer praise when they start to make it happen.
Celebrate the success as it occurs – and get ready for the next year – you did it!
Join me for my next speaking date in Windsor:
Human Resources Professionals Association of Windsor – January 25th, 2007. It is a dinner meeting at the Fogolar Furlan Club from 5:15 PM to 8 PM – Guests are welcome at $20 each. The topic is Increasing Your Persuasion and Influence as an HR Professional. For registration info, please visit LeadershipWizard.com and click the link for the event.