goal for business plan example

41 Business Goals Examples to Set in 2024 and Beyond

• Goal Management

What Are Business Goals?

4 goal frameworks with examples, manage business goals in weekdone.

For more than 10 years Weekdone has provided tens of thousands of teams from startups to Fortune 500 with world leading goal-setting software called Weekdone . These are our lessons learned.

Organizations invest time and resources in determining where to target their collective efforts. Whether your business goals and objectives center on strategic planning, expansion, or sustainability, they are a pivotal point in the expansion of any organization. They assist in several ways, from enhancing customer service to boosting revenues. In the end, they contribute to establishing the company’s main goal.

You may have come across many long-term and short-term goal-setting methodologies or frameworks in the business sector, such as Objectives and Key Results (OKR) , Balanced Scorecard (BSC), SMART goals, and so on. 

• OKRs – Objectives and Key Results – as implemented in products like Weekdone are today’s de-facto standard for goal-setting in teams and companies
• SMART goals can help you handle the bumps on the road. 
• Business model and vision statement provide a big picture view of your firm and what you want to achieve, 
• Short-term and long-term business objectives describe the exact techniques you’ll employ to get there.

It’s time to advance with a proactive, strategic strategy that prioritizes pressing problems and helps us avoid making snap judgments in the future. Let’s go through the ultimate strategies for setting great business goals for 2024 and beyond.

Business goals are the aims that a company expects to achieve within a specific time frame. You may define business goals for your entire organization as well as specific departments, staff, management, and/or clientele.

Goals often indicate the wider purpose of a firm and seek to set an ultimate goal for staff to strive toward. The time period you set your goal for will determine whether it’s considered short-term or long term.

Short term goals are usually those which can be achieved in one or two working quarters (3-6 months) sometimes maybe a year, depending on how committed the organization is.

Further, when thinking of a long term goal – it’s typically one set with a date to accomplish within one year or more.

📚 What’s the difference between goals and objectives ?

A goal framework is a systematic way of defining goals. Although these frameworks vary in terms of precise rules and methods, they are all intended to simplify the goal management process to maximize the probability of achievement. This generally entails breaking down larger and more complicated goals into smaller steps and activities that should be completed within a specific period.

The 4 goal-setting frameworks listed below are among the most widely used and successful frameworks available today.

Objectives and Key Results (OKR)

OKR stands for “ Objectives and Key Results .” This popular goal management framework focuses on development and progress by setting proper quarterly goals – leveraging the ability of your teams to achieve results. Weekdone is a tool to implement OKRs in your team.

Using OKRs is critical for attaining collaborative success and fulfilling the organization’s bigger vision. This framework helps businesses to keep alignment and engagement on the quantifiable metrics that actually matter!

OKR methodology entails defining objectives, involving individuals in the goal-setting exercise, and fostering an open and transparent culture. Maintaining this culture requires persistent and regular OKR check-ins to keep you on track and ensure you never lose sight of your priorities. OKRs have been embraced by many big corporations and charitable groups, including Netflix and Code for America.

Learn more about the best practices for tracking OKRs , why it is important, and how to use OKRs effectively throughout the company.

Get 14-day trial of Weekdone . Invite your teams and set better business goals with OKRs. Try it now .

How to Write Good OKRs

Writing OKRs at the Company or Team level lets you clearly view your core challenges and improvement possibilities and separate them from day-to-day activities. Good objectives bring teams together, foster long-term growth habits, and propel you to success. If you start using Weekdone , you can take advantage of the OKR examples in the software .

To create OKRs, you must first understand how to do them correctly. OKRs are composed of one main goal at the top and 3-5 accompanying key results. They may be expressed in the form of a statement.

Crafting Company Objectives

To begin, you need to create a corporate objective. The corporate goal should be wide enough to allow all teams to develop the most successful team goals. On the other hand, it should be detailed, so everyone understands the company’s direction.

Ultimately, the company objective helps to establish a quarterly focus for the entire organization. Team objectives are then developed based on this high-level focus.

Developing Team Objectives

Once the company’s Objective(s) is established, individual teams should work together to discuss their relative objectives. These motivating goals should be consistent with the general direction of the firm. They should create focus, a sense of urgency, and a sense of collective purpose. Furthermore, they are intended to represent challenges to be solved or possibilities for progress to be pursued during the quarter.

Pro Tip: In Weekdone , we recommend linking your team objectives to the company objective – creating the company OKR. This goal alignment tactic ensures that everything is moving as one cohesive organism.

Creating Key Results for Your Objectives

Objectives on all levels are subdivided into quantifiable key results used to track your success and progress toward the “O”. As a result, key results they must be time-bound, detailed, attainable, and quantifiable. While the goal is to fix or enhance the problem, crucial findings indicate whether the problem was successfully solved.

Keep in mind: Efficient Key results are lofty but attainable metrics -they are not KPIs or projects. KR’s are always tied to both the quarter and the objectives.

OKR Examples

By identifying some OKR examples to model and practice with, it will be much simpler to adopt the framework in your business effectively. Here are some example Objectives and their Key Results for different business departments:

Sales & Marketing Departmental OKR Examples

Example okr #1:.

Objective: Improve our overall sales performance. Key Result 1: Maintain a sales pipeline of quality leads worth at least $400K each quarter. Key Result 2: Increase the closure rate from 20% to 23%. Key Result 3: Increase the number of planned calls per sales rep from three to six per week. Key Result 4: Increase the average contract size from $12,000 to $124,000.

Example OKR #2:

Objective: Build a netbook of business recurring revenue to stabilize the firm. Key Result 1: Achieve $300,000 in monthly recurring revenue ($MRR) before the end of Q1. Key Result 2: Increase the proportion of subscription services sold against one-time contracts to 60%. Key Result 3: Increase the average paid subscription value to at least $400. Key Result 4: Increase the percentage of yearly renewals to 70%.

Example OKR #3:

Objective: Bring in as many high-quality leads to assist the sales team. Key Result 1: Develop three new case studies aimed at new consumer categories. Key Result 2:  Update the normal sales deck and discussion track with new products/offers. Key Result 3:  Try to double the number of online form leads. Key Result 4:  Organize two sales training sessions.

Example OKR #4:

Objective: Improve the quality of our outbound sales strategy. Key Result 1: Ensure that at least 75% of prospective parties are contacted directly within three working days. Key Result 2:   Consult with productive team members to determine what works in the sales process and develop a sales cheat sheet. Key Result 3: Publish a best practices sales process document with the lowest permitted service levels

Example OKR #5:

Objective: Generate sales leads of greater quality. Key Result 1: Create a set of lead metrics and prepare queries for CRM collection. Key Result 2:   Ensure that at least 75% of leads performed mandatory questions/answers. Key Result 3: Streamline the gathering of data from our database to CRM. Key Result 4: Redesign the user interaction form by adding three additional mandatory structured questionnaires.

Example OKR #6:

Objective : Extend our reach and brand recognition beyond our present geographic boundaries. Key Result 1:  Improve signups from transformational change leadership articles by 3% Key Result 2:  Boost publication subscriptions by 300 Key Result 3: Enhance web traffic from additional target areas by 12%.

Example OKR #7

Objective : Improve our SEO. Key Result 1: Get 20 fresh backlinks from relevant sites each quarter if your domain score exceeds 50. Key Result 2: Optimize our on-page optimization and improve ten pages every quarter. Key Result 3:  Increase the speed of our website to improve our speed score. Key Result 4:   Write one new blog article weekly optimized for our list of targeted search terms.

Example OKR #8

Objective : Foster a sense of community among our clients. Key Result 1:  Develop a best-practices-based customer community approach. Key Result 2:  During the first half of the year, produce 20 articles showing client satisfaction. Key Result 3:  We get 25% of our clients to engage in the community using discount opportunities. Key Result 4:  Earn five favorable PR mentions for our consumers this quarter.

Example OKR #9

Objective : Increase brand exposure and reputation. Key Result 1:  Roll out a new weekly magazine with valuable material and thought leadership. Key Result 2: Deliver five new value-added posts with over 250 words of content every month. Key Result 3: This quarter, obtain two favorable media exposure PR spots in our community. Key Result 4: Amass 10 reviews with five stars on Google and Yelp this quarter.

Example OKR #10

Objective : Deliberately and consistently enhance the competencies of our staff. Key Result 1:   Every member of the team has a personal growth plan. Key Result 2:  All workers have received 360-degree feedback. Key Result 3: Every manager has a one-on-one at least every other week. Key Result 4: Create a strategy for effective intervention opportunities to address capacity shortfalls.

SMART Goals for Business

SMART business goals give you the blueprint to make your overarching business aspirations a reality.

James Cunningham, Arthur Miller, and George Doran initially presented this method for defining goals in 1981. Setting SMART goals allows you to articulate your thoughts, organize your efforts, use your time and resources better, and enhance the odds of reaching your goal. Questions to ask when setting SMART goals:

• What exactly do you want to accomplish?
• What are your numeric priorities or restrictions regarding effort, expense, and time?
• How realistic is it? See committed or aspirational goals
• Does the goal apply to you and your company?
• What are your timeframes, deadlines, and quantifiable constraints?

SMART goals do not have a certain cadence or use case; they are suggestions and a descriptive set of criteria to use while considering what you want to accomplish. You may establish them for certain periods, departments, individuals, or tasks.

How to Write SMART Goals

Consider using the SMART steps to help you reach your goals:

• Specify your goal.
• Create a measurable goal.
• Set attainable goals.
• Ensure that it is relevant.
• Develop a time-bound plan.

SMART goals can be implemented in any section of a business. If you’re unsure whether it’s worthwhile to plan it out for your organization, consider using free online goal-setting tools.

SMART Business Goals Examples

1. i want to boost my revenue.

• Specific: I plan to boost revenue while decreasing spending. Shifting to a more affordable location, which would reduce my rent by 7%, will lower my operational expenditures.
• Measurable: I plan to increase sales over the following five months by signing up three additional potential clients.
• Attainable: I plan to strengthen my current client connections and develop the company through recommendations, networking, and social media. This will assist me in generating more leads, resulting in a rise in income for the company.
• Relevant: Moving to a less expensive location will lower my company’s operational costs, allowing for profit growth.
• Time-bound: By the end of the next three months, I will have doubled my profit.

2. Set Up a Virtual Sales Communication Link

• Specific: Our remote sales crew should have connectivity across the board and be fully functional.
• Measurable: The mission is fully functional when running the routing protocol, and our remote employees can start working.
• Achievable: This goal may be lofty, but we may bring it to the top of the list of priorities and briefly divert assets from longer-term initiatives to finish it.
• Relevant: Even if there is no epidemic, remote work is an excellent option. Remote networking assists people in being productive and organizations in achieving goals in a post-COVID environment.
• Time-bound: This objective has a time constraint of seven days.

3. I Want To Improve My Business Operations Efficiency

• Specific: I’ll strengthen the effectiveness of my daily operations by putting pressure on my sales team to raise their closing ratio from 30% to at least 40%.
• Measurable: Salespeople are expected to enhance their closing ratio from 30% to 40%, and delivery time is expected to be reduced from 72 hours to 12 hours.
• Attainable: I’ll run a poll to determine what the notion means to both clients and the sales staff. I’ll put it in place as soon as the concept is approved.
• Relevant: expanding the number of motorcycles and pickup trucks that will provide delivery services for us will aid the strategy’s success.
• Time-bound: This should take place within a year.

4. I Want To Expand My Business Operations

• Specific: During the next three years, open three additional branches around the country
• Measurable: The goal is to boost the company’s operations and revenue. This, in turn, will encourage the establishment of three additional branches.
• Attainable: More manufacturing will increase my present selling space by 25%. This will allow me to save for the projected expansion to four branches around the country.
• Relevant: Growing production, operations, and income will result in a larger customer base; therefore, opening new branches will not waste time.
• Time-bound: The establishment of the branches should take place during the next three years.

5. My goal is to increase employee retention

• Specific: In 90 days, I will reduce staff turnover by 25% by training new workers to let them understand what is expected of them and a strategy to assist them in becoming acquainted with the operational processes.
• Measurable: the increase in staff turnover is expected to be roughly 25% and should occur within 90 days.
• Attainable: training courses and one-on-one sessions will guarantee that personnel are ready for what is required of them when they start working in production.
• Relevant: exceptional personnel will be considered for a reward scheme. There will be motivational training for individuals who are having difficulty.
• Time-bound: Within 90 days, staff turnover will have improved.

OKR Goals vs. SMART Goals

OKRs and SMART goals may appear to be very comparable on the surface. However, they have entirely different use cases. OKR is regarded as a more advanced method for creating corporate-wide goals.

OKRs are intended to propel firms to growth and long-term progress. They operate best with a quarterly goal-setting cycle and regular weekly check-ins to keep track of progress and stay on target. SMART goals are one-time objectives created for smaller initiatives without a direct or established link to higher-level objectives.

Management by Objectives (MBO)

Management by Objectives, abbreviated “MBO,” is a management concept created by Peter Drucker in the late 1960s as he began to propose better methods for managing skilled workers over agricultural and industrial employees who came before them.

Staff objectives are set using the main business goals, with this framework. MBO enables everyone in the firm to evaluate what they have done concerning the company’s key objectives and priorities while completing duties. This demonstrates how action and outcome are linked and how they may significantly boost productivity.

MBO Examples

MBO can be used and possibly benefit a variety of sectors. Here are some real-world applications for MBO:

Human Resources: MBO may improve employee happiness, hold workplace events, and increase staff participation.

Company Performance: Using MBO to boost gross margins, minimize carbon footprints, enhance sales, and so on.

Marketing: MBO may help you reach goals like boosting email subscriptions, expanding social media followers, and tripling online traffic.

Customer Service: Minimizing incident rates, boosting associate accessibility to assist in customer disagreements, and speeding up a dispute resolution.

Sales: Reduce the sales cycle from six to three months, boost average revenues to $10,000, and acquire 15 new clients over a certain period.

In reality, a clear objective setting in areas where the organization may now fall short may assist all facets of a company, from human resources to marketing to sales to information technology and everything in between.

OKR vs. MBO 

The most notable difference between these two frameworks is that OKR is about outcomes, rather than outputs. OKR has been known to foster more important cross-departmental and team discussions to get to the greater problem or big picture ideas. Management by Objectives has been linked to performance management and is driven by outputs – both of which are very different from the Objectives and Key Results goal management framework.

Read more on the difference between OKR and MBO . 

Big Hairy Audacious Goals (BHAG)

BHAG stands for ‘big, hairy, audacious goals’ and refers to lofty ambitions that may appear impossible in the short term but give a crucial feeling of aspiration and emotional energy to propel the business to the top.

The concept, coined by Jim Collins and Jerry Porras in their book Built to Last: Successful Habits of Visionary Companies, often defines long-term strategies tied to your company’s fundamental beliefs and ideals. BHAGs are long-term in nature, with a time frame of 10 to 25 years optimal. They should be based on the goal and guiding principles of your company.

Tips for Developing Your BHAG

Here are some helpful hints for developing a BHAG for your company:

• Employees are inspired to strive for the final objective since it is so large and inspirational;
• The BHAG may be broken down into sub-goals, which is a huge motivator;
• Your objective is specific;
• Don’t forget to set a time limit.

BHAG Examples

• Make your eatery the go-to choice for royalty and international leaders when they need catering.
• Establish a nonprofit organization to find a treatment for a serious illness like Parkinson’s or arthritis.
• Make your business more than just a producer of mobility aids by creating the first all-terrain wheelchair that improves the lives of millions of people.
• Surpass Starbucks and McDonald’s in brand recognition. It can also work in other industries by modifying it to become as recognizable a name as McDonald’s in your chosen field.
• Make your art gallery the most well-known in the world. One in which all the greatest artists compete to have their work showcased.
• Become a billion-dollar corporation in two decades. Some of the world’s top corporations began on kitchen tables with a BHAG.

More Business Goals Examples

Without rhyme or reason, implementing a new framework or not – you can always begin with some statement areas for improvement. We’ve created a list of example goals you can work with immediately in your organization. These are great to get started in your free Weekdone trial .

1. Increase Market Share

This goal is customer driven. The idea is to sell more of your product to your target consumers, thus, increasing overall market share for your product for investors. For example, if you operate a B2B company, your goal should be to reach out to more company heads or HR departments. If you operate a small business that focuses on building computers, you’ll want more of the local population to come to you for your services.

2. Increase Community Outreach

Becoming part of the community is a fantastic way to connect from the B2C side. Whether you are a large company contributing to community efforts through sponsorship or a small company that volunteers to help for Little League Baseball, community outreach is an excellent goal for new and established organizations alike. Increasing community outreach is especially important if your company or organization doesn’t have a good reputation with a particular group (I.E.: environmentalists).

Likewise, community outreach is essential if you are providing human necessities. For example, if you run a small scale grocery store, community outreach is what’s gonna keep you above water when competing with larger corporations. 

3. Maintain Profits

Financial goals are one of the most useful top-level objectives you can have. By nature, they are both aspirational and measurable, which equally makes financial-driven objectives essential for getting the goal setting process started for young businesses.

Maintaining profits (as opposed to increasing revenue) calls for a balance between profitability and investments. Investments are necessary to test out changes in the market and expand the business, so by establishing a balanced goal, you can reason how much money can go into growth and new projects/tools/campaigns while still reaching a paired profit goal. 

4. Reduce Energy or Decrease Unnecessary Use of Resources

This is a double-sided issue. If you are providing a service or product that requires being PHYSICALLY, cutting back on using that energy to save money means you can put that money to things that are more useful and productive (such as expanding or improving the product). This can be as minimal as cutting down on electricity. 

If your product isn’t physical, this goal equally applies to cutting out company tools by trying to find software or systems that maximize your company’s alignment and productivity. Aiming for 1-2 communication tools, for example, cuts out company miscommunication by having conversations spread out over several apps, messaging programs, and document sharing platforms. 

5. Grow Shareholder Value

Increasing shareholder value is an extension of increasing profit for consumers. Increasing the overall value of your organization can refer to reputation, profit, or any other classification of “value.” The most important aspect of this goal is to specify what that value is and structure your Key Results, projects, KPIs, etc. around this. 

6. Increase Percentage of Sales Made with New Product Features

When developing new products or features, promoting them so sales can close more deals/sell more of the new product should be one of your main priorities for increasing profit. This justifies the expenses from investing in the new product or feature in the first place and aims to ensure that the investment was worth it and will turn a profit. 

7. Invest in Quality Management

Total Quality Management (TQM) is all about continuing to reduce manufacturing error and streamlining a supply chain with physical products. It equally applies to both when dealing with improving customer experience and training staff. Improving quality across a wide variety of areas is a great company level goal that’s easy to align since each team or department can be held accountable for their own work. 

8. Focus on Leadership Skills for Team Members

Training employees is one thing, making them comfortable so they can speak for themselves and encouraging creative, out-of-the box behavior is another. If your company wants more input from lower levels, then this is important.

Implementing employee goals will increase their independence and confidence in the workplace. We have a post to explain how this works.

9. Maintain or Decrease Debt

Easily measurable, this category falls under finances as well. Maintaining a certain amount of financial debt is important… especially for businesses that are just getting started and may not have the profits to cover debt costs.

10. Balance Budget for X Period

Balancing a budget is a great top level goal for non-profits. Likewise, this goal is a great for teams who may get a set amount to invest in campaigns or projects quarterly or annually. 

11. Calculate and Create the Best Value of Product for Cost

This is on marketing and sales, so is a better team goal example than a company goal. The idea is to focus on selling customers that they are getting the best deal. Whether you’re selling something top of the line for high cost or a cheap, low-cost alternative that doesn’t have the polish of a different brand, you need to highlight to your customers why your product balances value and cost.

12. Make Product More Reliable/Create a Reliable Product

Making your product more reliable is a great way to gain customers while maintaining pre existing ones. This short term goal can be worked on quarter after quarter – split up the tasks by first reviewing existing value points, competitors and current positioning – then continue forward as you learn and explore more to prepare for development.

13. Cross-Sell to Long Term Customers

So, you have people buying a product of yours. A good goal for sales is to sell them on more products. This builds brand loyalty.

14. Best Customer Service

Dealing with the external face of your company, offering the best customer service means that consumers are happier with the overall experience of buying or using your product.

15. Team Building/Diversity Training Goals

A classic in HR teams, team building and diversity training focuses on employee satisfaction to prevent turnover and allow environments where everyone is comfortable enough to share their ideas.

It’s now time to sign up for your free Weekdone trial and get going.

The first step is to set up a goal for your firm or team. Each goal you establish has an impact on the next. As a result, ensure that your business goals and objectives are adaptable. Whether you are a small firm or an expert in your profession, consistently analyzing your work, raising your work standards, and expanding your goal list is the way to progress.

Efficient goal alignment promotes a greater sense of participation and direction among employees in a firm. The OKR process is at the forefront of assisting companies in aligning their aims through important results and activities.

Weekdone is your leading OKR software for status reporting, aligning team OKRs with business goals, and visualizing weekly and quarterly achievements. The fundamental concepts of appropriate alignment, structure, and connectivity are important to us. From the ground up, we can make your organization feel more connected by achieving business goals together. Sign up now .

14 day free trial – invite your team and start setting better business goals!

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• 65 strategic goals for your company (wi ...

65 strategic goals for your company (with examples)

Strategic goals are a critical part of your strategic plan. In order to achieve your long-term goals, you need a clear sense of where you want to go—and an easy way to share those goals with your team. In this article, we take a look at the difference between strategic goals and other goal setting methodologies, then offer 65 example metrics and strategic goals you can use to get started. 

Goal-setting is a critical part of your business strategy. You want to make sure your team is cohesively moving in the right direction—and goals are a great way to do that. 

But in order for goals to be effective, they need to be measurable. The important thing isn’t just to create goals, but to create strategic goals that help you accomplish your overall company mission. 

In this article, we’ll walk you through when to set strategic goals—vs. other types of goals—and how to do so. 

What is a strategic goal? 

Because strategic goals are closely connected to strategic planning, they tend to be three to five year goals. But the most important part of setting a strategic goal is to identify where you want to go, and what goals you need to achieve to get there. 

How strategic goals compare to other business processes

There are a lot of different strategy and goal setting frameworks you can use. Here’s how strategic goals differ from other types of goals. 

Strategic goals vs. strategic planning

Strategic planning is the process of defining the direction your company wants to go in the next three to five years. A strategic plan includes longer term goals, strategic goals, and shorter-term goals that describe how you’ll achieve your strategic goals. The strategic planning process is typically run by decision-makers and stakeholders. 

Part of defining your strategic plan is coming up with strategic goals. Your strategic plan should also include customer insights, a SWOT analysis , your company values , your organization’s competitive advantages, specific goals on a quarterly or yearly timeline, and a high-level project roadmap if you have one.

Strategic goals vs. strategic management

Strategic management is the organization and execution of business resources in order to achieve your company goals. These usually help you implement your overall organizational strategy. 

Strategic goals, on the other hand, are generally three to five year objectives that tie closely to your strategic plan. 

Think of strategic goals as the specific things you want to achieve in three to five years. These strategic goals are part of your strategic plan, which provides more context and direction for why your company wants to move in that direction. Your strategic plan fuels your strategic management process, which is how you’ll actually achieve those goals. 

Strategic goals vs. strategic objectives

The difference between strategic goals and strategic objectives is somewhat subjective. In general, objectives tend to be more specific than goals—some people argue that objectives are always quantitative, while goals can be either qualitative or quantitative. 

Whether you use the terminology strategic goals vs. objectives , it’s critical to make sure your goals are specific, measurable, and actionable. 

Strategic goals vs. big hairy audacious goals (BHAGs)

Big Hairy Audacious Goals (BHAGs) are long-term goals that typically take between 10 and 25 years to complete. These are industry-defining goals, like Microsoft’s famous goal to put "a computer on every desk and in every home." 

Not every organization has—or needs—BHAGs. Depending on your business strategy, a vision statement might be enough. Whether or not you set BHAGs, strategic goals are shorter-term goals that help you accomplish these bigger, ambitious goals. 

Strategic goals vs. OKRs 

OKRs , which stands for Objectives and Key Results, is a goal setting methodology developed by Andy Grove that follows a simple but flexible framework: 

I will [objective] as measured by [key result] .

OKRs can span multiple years, but most commonly these are one to two year objectives that help your company accomplish your larger strategic plan. In a typical OKR structure, your OKRs feed into your broader strategic goals. 

Strategic goals vs. KPIs

KPIs, or key performance indicators , are qualitative measures of how you’re progressing. Like OKRs, KPIs tend to be shorter in time frame than strategic goals. This is partially due to the fact that KPIs are nearly always quantitative. Achieving several long-term KPIs helps you achieve your broader three to five year strategic goals. 

Strategic goals vs. business goals

Business goals are predetermined targets that organizations plan to achieve in a specific amount of time. Technically, strategic goals—along with BHAGs, OKRs, and KPIs—are a type of business goal. 

65 example strategic metrics and goals

If you’ve never written a strategic goal before, it’s helpful to check out common goals. Though your strategic goals are unique to your strategic plan, use these examples as templates to create measurable, actionable goals with clear success metrics. 

Set strategic goals that are:

Simply phrased

Easy to track

For more tips on what constitutes a good goal, read our article on how to write SMART goals . 

Keep in mind that these goals should be achievable in three to five years. For shorter goals, consider setting OKRs or KPIs instead. For longer goals, check out vision statements and BHAGs . 

Strategic goals: finance

Financial strategic goals typically center around a few different important financial metrics, including:

1. Increasing revenue

2. Attaining or maintaining profitability

3. Growing shareholder value

4. Diversifying your revenue streams

5. Becoming a financially sustainable company

6. Reducing production costs

7. Increasing profit margin

8. Setting revenue targets for new products

9. Reducing department-specific budgets

10. Influencing the percentage of local vs. international sales

Examples of financial strategic goals

These examples do not represent Asana’s goals, and are merely included here for educational purposes. 

11. Increase total revenue by $10M in the next three years.

12. Reduce cost by 12% to become a profitable company by 2024.

13. Grow a specific product’s revenue to 30% of overall business revenue within the next five years.

14. Reduce marketing budget by 10% in the next three years.

15. Update our sales profile so 50% of our sales are international by 2026.

Strategic goals: customer-focused

Strategic goals that focus on your customers can help you break into a new market or further develop a trustworthy brand. These metrics can include:

16. Reducing customer churn

17. Measurably increasing customer satisfaction

18. Increasing the number of new customers

19. Increasing customer retention

20. Offering great customer value

21. Boosting customer outreach

22. Increasing customer conversion rates

23. Breaking into new customer segments

24. Increasing the number of returning customers

25. Decreasing the percentage of returned products

Examples of strategic goals focused on customer metrics

26. Increase net promoter score (NPS) by three points in the next year, and 10 points in the next five years.

27. Capture 23% market share by 2025.

28. Provide the best customer experience in the market—measured based on reaction time, customer sentiment, and brand tracking. 

29. Increase customer retention by 3% every year.

30. Reduce the percentage of returned products to 2% by 2023.

Strategic goals: growth

On an organizational level, growth refers to how your company expands and develops. Growth metrics include:

31. Increasing market share

32. Breaking into new markets

33. Developing new products, features, or services

34. Increasing operational reliability and/or compliance

35. Increasing company velocity

36. Opening new locations

37. Building your brand on social media

38. Increasing website traffic

39. Acquiring a new company

Examples of strategic goals about growth

40. Open 12 new locations within the next four years. 

41. Increase market share to 8% by 2026.

42. Reach 5M followers on social media (including Instagram and Twitter).

43. Increase web traffic to 300K visitors per year by 2024.

44. Start three new product streams by 2027.

Strategic goals: internal

You can also set strategic goals focusing on your internal company goals. Example employee-centric metrics can include:

45. Increasing employee retention

46. Adding new team members

47. Building a healthy organizational culture

48. Implementing a performance review cycle

49. Standardizing titles and/or levels

50. Improving cross-functional productivity

51. Spinning up a project management office (PMO) to standardize processes

52. Attracting the best talent

53. Building high-performing teams

54. Investing in personal and professional development

55. Reducing burnout and impostor syndrome

56. Building employee-focused training programs

57. Reducing employee turnover

58. Improving workplace safety

59. Building better facilities management

Examples of internal strategic goals 

60. Add 20 new team members within the next four years. 

61. Increase overall engagement scores by 7% based on yearly surveys.

62. Increase new hire referrals to 5,000 team members per year by 2026.

63. Develop and circulate new company values by 2023.

64. Implement a biannual performance review cycle within the next three years.  

65. Attain maximum workplace safety score rating within the next three years. 

Achieve your goals with goal tracking technology

Once you develop your goals, you need a clear way to track, measure, and communicate those goals. Too often, teams set great goals and then don’t know how to track those goals over time. 

Instead of letting your goals collect dust in a slide deck or spreadsheet somewhere, use goal tracking technology to connect your strategic goals to your team’s daily work. With Asana , you can track long-term goals, as well as the shorter-term objectives that feed into those goals. 

Related resources

Unmanaged business goals don’t work. Here’s what does.

How Asana uses work management to effectively manage goals

Beat thrash for good: 4 organizational planning challenges and solutions

Use critical success factors to support your strategic plan

Business Plan Goals and Examples for Success

Written by Dave Lavinsky

A well-crafted business plan serves as a roadmap for entrepreneurs and businesses to achieve their objectives. One crucial aspect of a business plan is outlining clear and measurable goals. Business plan goals are the specific targets and milestones that a company aims to achieve within a defined timeframe. They provide a direction and purpose for the business, guiding decision-making, resource allocation, and strategic planning. In this article, we will explore the importance of setting business plan goals and provide examples of common goals.

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Why are Business Plan Goals Important?

Business plan goals are essential for several reasons:

• Strategic Focus : Goals help businesses define their strategic direction and focus their efforts on what matters most. They align the company’s efforts and resources towards achieving specific objectives, ensuring that everyone is working towards a common purpose.
• Measurable Outcomes : Goals should be specific, measurable, achievable, relevant, and time-bound (SMART). By setting SMART goals, businesses can track progress, measure success, and identify areas for improvement.
• Motivation and Accountability : Goals provide motivation and drive for entrepreneurs and employees. They create a sense of purpose and urgency, encouraging individuals to work towards achieving the desired outcomes. Goals also establish accountability, as progress is monitored and reviewed regularly.
• Decision-Making : Goals serve as a reference point for decision-making. They help businesses prioritize initiatives, allocate resources, and evaluate opportunities based on their alignment with the established goals.

Examples of Business Plan Goals

Business plan goals can vary depending on the nature, size, and stage of the business. Here are some common examples of business plan goals:

Financial Goals:

• Achieve a specific revenue target within a defined timeframe.
• Increase profitability by a certain percentage or dollar amount.
• Reduce costs or increase efficiency in a particular area of the business.
• Secure funding or investment to support business growth.

Market Penetration Goals:

• Expand market share in a specific geographic region or target market.
• Increase brand awareness and recognition among the target audience.
• Launch new products or services in the market.
• Increase customer retention or loyalty.

Operational Goals:

• Improve production or service delivery processes to enhance quality or reduce lead times.
• Enhance supply chain management to optimize inventory levels or reduce costs.
• Implement new technologies or systems to streamline operations or improve customer experience.
• Achieve certifications or industry standards to improve credibility and competitiveness.

Human Resources Goals:

• Hire and retain top talent to support business growth.
• Provide training and development opportunities for employees to enhance their skills and performance.
• Improve employee engagement and satisfaction levels.
• Establish a diverse and inclusive workforce.

Social Responsibility Goals:

• Implement environmentally sustainable practices in the business operations.
• Contribute to the local community through philanthropic initiatives or social impact programs.
• Promote diversity, equity, and inclusion within the organization.
• Establish ethical and responsible business practices.

Business Plan Goals Conclusion

Business plan goals are critical for defining the direction and purpose of a business. They provide measurable outcomes, motivation, and accountability, guiding decision-making and resource allocation. Examples of business plan goals can include financial, market penetration, operational, human resources, and social responsibility objectives. When setting business plan goals, it’s essential to make them SMART – specific, measurable, achievable, relevant, and time-bound – to increase their effectiveness in driving business success. Regular monitoring and review of progress towards these goals can help businesses stay on track and adapt their strategies as needed to achieve their desired outcomes.

How to Set, Track, and Achieve Business Objectives with 60 Examples

By Kate Eby | April 10, 2023

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Businesses that set objectives make better decisions. Business objectives allow companies to focus their efforts, track progress, and visualize future success. We’ve worked with experts to create the most comprehensive guide to business objectives.

Included in this article, you’ll find the differences between business objectives and business goals , the four main business objectives , and the benefits of setting business objectives . Plus, find 60 examples of business objectives , which you can download in Microsoft Word.

What Is a Business Objective?

A business objective is a specific, measurable outcome that a company works to achieve. Company leaders set business objectives that help the organization meet its long-term goals. Business objectives should be recorded so that teams can easily access them. 

Business objectives cover many different factors of a company’s success, such as financial health, operations, productivity, and growth. 

One easy way to make sure that you are setting the right business objectives is to follow the SMART goal framework . SMART objectives are specific, measurable, achievable, relevant, and time-bound. 

To learn about setting project objectives using the SMART framework, see this comprehensive guide to writing SMART project objectives .

Business Objectives vs. Business Goal

A business goal is a broad, long-term outcome that a company works toward. Goals usually inform which strategies that department leaders will implement. A business objective , however, is a specific, short-term outcome or action that helps the company achieve long-term goals.

Although the terms are often used interchangeably, goals and objectives are not the same . In general, goals are broad in scope and describe an outcome, while objectives are narrow in scope and describe a specific action or step. 

While these differences are important to understand, many of the common frameworks for successful goal-setting — such as SMART, objectives and key results ( OKRs ), and management by objectives (MBO) — can be useful when writing business objectives. 

When deciding on objectives for a team or department, keep in mind the overarching goals of a business. Each objective should move the company closer to its long-term goals.

Project Goals and Objectives Template

Download the Project Goals and Objectives Template for Excel | Microsoft Word | Adobe PDF

Use this free, printable template to learn how to break down project goals into individual objectives using the SMART framework. Write the primary goal at the top of the worksheet, then follow the SMART process to create one or more specific objectives that will help you achieve that goal. 

For resources to help with setting and tracking goals at your company, see this all-inclusive list of goal tracking and setting templates .

What Are the Four Main Business Objectives?

The four main business objectives are economic, social, human, and organic. Each can help a business ensure their prolonged health and growth. For example, human objectives refer to employees’ well-being, while economic objectives refer to the company’s financial health. 

These are the four main business objectives:

• Example: Reduce spending on paid advertisements by 20 percent.
• Example: Reduce average customer wait times from eight minutes to four minutes. 
• Example: Hire two new chemical engineers by the end of Q2.
• Example: Improve the efficiency of a specific software product by 15 percent.

Types of Business Objectives

There are many types of business objectives beyond the main four. These range from regulation objectives to environmental objectives to municipal objectives. For example, a global objective might be to distribute a product to a new country. 

In addition to economic, social, human, and organic objectives, here are some other types of business objectives companies might set: 

• Regulatory: These objectives relate to compliance requirements, such as meeting quality standards or conducting internal audits.
• National: These objectives relate to a company’s place in and how they contribute to the country they operate in, such as promoting social justice causes and creating employment opportunities. 
• Global: These objectives relate to a company’s place in and its contribution to many countries, such as improving living standards and responding to global demands for products and services. 
• Environmental: These objectives relate to a company’s environmental impact, such as reducing chemical waste or making eco-friendly investments. 
• Healthcare: These objectives relate to the health and well-being of a population, whether within or outside an organization. These objectives might be improving healthcare benefit options for employees or refining a drug so that it has fewer side effects.

The Importance of Having Business Objectives

Teams need business objectives to stay focused on the company’s long-term goals. Business objectives help individual employees understand how their roles contribute to the larger mission of the organization. Setting business objectives facilitates effective planning. 

Here are some benefits to setting business objectives:

• Develops Leadership: Company leaders are more effective when they have a clear vision and can delegate tasks to make it a reality. Setting objectives is a great way to improve one’s leadership skills.
• Increases Motivation: People tend to be more invested in work when they have clear, attainable objectives to achieve. Plus, each completed objective provides a morale boost to keep teams happy and productive. 
• Encourages Innovation and Productivity: With increased motivation and workplace satisfaction come more innovations. Set attainable but challenging objectives, and watch teams come up with creative solutions to get things done.
• Improves Strategy: Setting objectives that align with overarching company goals means that everyone across the company can stay aligned on strategic implementation. 
• Enhances Customer Satisfaction: Overall customer satisfaction is more likely to increase over time when measurable quality improvements are in place. 
• Improves Prioritization: When they are being able to see all of the current objectives, team members can more easily prioritize their work, which in turn makes their workloads feel more manageable. 
• Improves Financial Health: Setting economic objectives in particular can help companies stay on top of their financial goals.

60 Examples of Business Objectives

Company leaders can use business objectives to improve every facet of an organization, from customer satisfaction to market share to employee well-being. Here are 60 examples of business objectives that can help a company achieve its goals. 

Economic Business Objectives

• Increase profit margins by 5 percent by the end of the Q4. 
• Recover 50 percent of total outstanding debts from each quarter the following quarter for the next year. 
• “Increase revenue by 10 percent each year for the next five years,” suggests Tyler. 
• Offer three new holiday sales events in the coming year. 
• Move 30 percent of surplus stock by the end of Q2.
• “Reduce costs by 10 percent each year for the next five years,” suggests Tyler.
• Reduce monthly interest payments by 1.5 percent by consolidating debt. 
• Introduce a new credit payment option to expand the potential customer base. 
• Apply for six government grants by the end of the year. 
•  Hire an accountant to track expenses and file the company’s taxes. 
•  Secure a $100,000 loan to start a business.
•  Pitch your business ideas to a venture capital firm. 
• Improve your business credit score from 75 to 85 in two years. 
• Invest in solar panels for your company headquarters to reduce building energy costs by 75 percent. 
• Establish a monthly practice to analyze your cash flow statement.

Social Business Objectives

• Decrease customer average customer wait times by 20 percent in two months.
• Improve the average customer service satisfaction rating from 3.2/5 to 3.8/5 in six months through targeting trainings. 
• Hire a contract UX designer to redesign the company website interface in four months. 
• Decrease customer churn by 15 percent in one year. 
• “Triple the customer base within two years,” suggests Tyler.
• Offer 20 percent more customer discounts and specials over the course of two years. 
• Increase market share by 5 percent in three years. 
• Increase monthly sales quotas for sales associates by 10 percent. 
• Develop a sales incentive program to reward top-performing sales associates with vacations, bonuses, and other prizes. 
• Donate $10,000 to local causes, such as public school funds or local charities. 
• Partner with a charitable organization to host a company-wide 5K.
• Increase your marketing budget by 15 percent.
• Hire a new marketing director by the end of Q3.
• Donate 40 percent of surplus stock to a relevant charity. 
• Increase engagement across all social media platforms by 10 percent with a multiplatform ad campaign.

Human Business Objectives

• Hire three new employees by the end of Q1.
• Hire a contractor to train your IT team on new software. 
• Rewrite and distribute your company values statement. 
• Conduct a quarterly, company-wide productivity training over the next two years. 
• Establish a diversity, equity, and inclusion (DEI) committee. 
• Design and implement a mentorship program for diverse employees. 
• Create an incentive program that grants additional vacation days for all employees when company-wide productivity goals are met. 
• Offer a free monthly happy hour to improve the employee experience. 
• Select change leaders across multiple teams to provide support for a corporate reorg.
• Start three employee resource groups (ERGs) within the next six months. 
• Diversify websites and career fairs where the hiring team recruits applicants to encourage a more diverse pool of candidates for new jobs. 
• Invest in an office redesign that improves the office atmosphere and provides more in-office resources, such as free coffee and snacks, to on-site employees. 
• Upgrade employee laptops to improve productivity and employee satisfaction. 
• Conduct a yearly, comprehensive employee experience survey to identify areas of improvement. 
• Throw office parties to celebrate change milestones. 

Organic Business Objectives

• Increase the top line by 15 percent every year for the next five years.
• Achieve 20 percent net profit from 10 product enhancements in the next two years.
• Decrease raw materials costs by 10 percent by the end of the year.
• Reduce downtime by 25 percent by the end of the year.
• Within two years, attain a rate of 25 percent new revenue from products released within the last year.
• Improve customer acquisition ration by 10 percent every quarter for the next two years. 
• Reduce total inventory levels by 20 percent over four months.
• Interact with at least 20 Instagram users every month for one year.
• Have a new product launch covered by at least three reputable industry publications within two months of the launch date.
• Grow both the top line and the bottom line by 60 percent every year for three years. 
• Reduce product defects by 15 percent every year for four years.
• Increase on-time delivery dates for top customers by 25 percent over the span of three quarters.
• Conduct yearly workplace safety reviews.
• Decrease average customer wait times for responses to social media queries from 45 minutes to 15 minutes by the end of Q4.
• Improve your company website to be on the first page of search results within six months.

Download 60 Example Business Objectives for

Microsoft Word | Adobe PDF

Track the Progress of Business Objectives with Smartsheet

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The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

Discover why over 90% of Fortune 100 companies trust Smartsheet to get work done.

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Goals and Objectives for Business Plan with Examples

NOV.05, 2023

Every business needs a clear vision of what it wants to achieve and how it plans to get there. A business plan is a document that outlines the goals and objectives of a business, as well as the strategies and actions to achieve them. A well-written business plan from business plan specialists can help a business attract investors, secure funding, and guide its growth.

Understanding Business Objectives

Business objectives are S pecific, M easurable, A chievable, R elevant, and T ime-bound (SMART) statements that describe what a business wants to accomplish in a given period. They are derived from the overall vision and mission of the business, and they support its strategic direction.

Business plan objectives can be categorized into different types, depending on their purpose and scope. Some common types of business objectives are:

• Financial objectives
• Operational objectives
• Marketing objectives
• Social objectives

For example, a sample of business goals and objectives for a business plan for a bakery could be:

• To increase its annual revenue by 20% in the next year.
• To reduce its production costs by 10% in the next six months.
• To launch a new product line of gluten-free cakes in the next quarter.
• To improve its customer satisfaction rating by 15% in the next month.

The Significance of Business Objectives

Business objectives are important for several reasons. They help to:

• Clarify and direct the company and stakeholders
• Align the company’s efforts and resources to a common goal
• Motivate and inspire employees to perform better
• Measure and evaluate the company’s progress and performance
• Communicate the company’s value and advantage to customers and the market

For example, by setting a revenue objective, a bakery can focus on increasing its sales and marketing efforts, monitor its sales data and customer feedback, motivate its staff to deliver quality products and service, communicate its unique selling points and benefits to its customers, and adjust its pricing and product mix according to market demand.

Advantages of Outlining Business Objectives

Outlining business objectives is a crucial step in creating a business plan. It serves as a roadmap for the company’s growth and development. Outlining business objectives has several advantages, such as:

• Clarifies the company’s vision, direction, scope, and boundaries
• Break down the company’s goals into smaller tasks and milestones
• Assigns roles and responsibilities and delegates tasks
• Establishes standards and criteria for success and performance
• Anticipates risks and challenges and devises contingency plans

For example, by outlining its business objective for increasing the average revenue per customer in its business plan, a bakery can:

• Attract investors with its viable business plan for investors
• Secure funding from banks or others with its realistic financial plan
• Partner with businesses or organizations that complement or enhance its products or services
• Choose the best marketing, pricing, product, staff, location, etc. for its target market and customers

Setting Goals and Objectives for a Business Plan

Setting goals and objectives for a business plan is not a one-time task. It requires careful planning, research, analysis, and evaluation. To set effective goals and objectives for a business plan, one should follow some best practices, such as:

OPTION 1: Use the SMART framework. A SMART goal or objective is clear, quantifiable, realistic, aligned with the company’s mission and vision, and has a deadline. SMART stands for:

• Specific – The goal or objective should be clear, concise, and well-defined.
• Measurable – The goal or objective should be quantifiable or verifiable.
• Achievable – The goal or objective should be realistic and attainable.
• Relevant – The goal or objective should be aligned with the company’s vision, mission, and values.
• Time-bound – The goal or objective should have a deadline or timeframe.

For example, using the SMART criteria, a bakery can refine its business objective for increasing the average revenue per customer as follows:

• Specific – Increase revenue with new products and services from $5 to $5.50.
• Measurable – Track customer revenue monthly with sales reports.
• Achievable – Research the market, develop new products and services, and train staff to upsell and cross-sell.
• Relevant – Improve customer satisfaction and loyalty, profitability and cash flow, and market competitiveness.
• Time-bound – Achieve this objective in six months, from January 1st to June 30th.

OPTION 2: Use the OKR framework. OKR stands for O bjectives and K ey R esults. An OKR is a goal-setting technique that links the company’s objectives with measurable outcomes. An objective is a qualitative statement of what the company wants to achieve. A key result is a quantitative metric that shows how the objective will be achieved.

OPTION 3: Use the SWOT analysis. SWOT stands for S trengths, W eaknesses, O pportunities, and T hreats. A SWOT analysis is a strategic tool that helps the company assess the internal and external factors that affect its goals and objectives.

• Strengths – Internal factors that give the company an advantage over others. 
• Weaknesses – Internal factors that limit the company’s performance or growth. 
• Opportunities – External factors that allow the company to improve or expand. 
• Threats – External factors that pose a risk or challenge to the company.

For example, using these frameworks, a bakery might set the following goals and objectives for its SBA business plan :

Objective – To launch a new product line of gluten-free cakes in the next quarter.

Key Results:

• Research gluten-free cake market demand and preferences by month-end.
• Create and test 10 gluten-free cake recipes by next month-end.
• Make and sell 100 gluten-free cakes weekly online or in-store by quarter-end.

SWOT Analysis:

• Expertise and experience in baking and cake decorating.
• Loyal and satisfied customer base.
• Strong online presence and reputation.

Weaknesses:

• Limited production capacity and equipment.
• High production costs and low-profit margins.
• Lack of knowledge and skills in gluten-free baking.

Opportunities:

• Growing demand and awareness for gluten-free products.
• Competitive advantage and differentiation in the market.
• Potential partnerships and collaborations with health-conscious customers and organizations.
• Increasing competition from other bakeries and gluten-free brands.
• Changing customer tastes and preferences.
• Regulatory and legal issues related to gluten-free labeling and certification.

Examples of Business Goals and Objectives

To illustrate how to write business goals and objectives for a business plan, let’s use a hypothetical example of a bakery business called Sweet Treats. Sweet Treats is a small bakery specializing in custom-made cakes, cupcakes, cookies, and other baked goods for various occasions.

Here are some examples of possible startup business goals and objectives for Sweet Treats:

Earning and Preserving Profitability

Profitability is the ability of a company to generate more revenue than expenses. It indicates the financial health and performance of the company. Profitability is essential for a business to sustain its operations, grow its market share, and reward its stakeholders.

Some possible objectives for earning and preserving profitability for Sweet Treats are:

• To increase the gross profit margin by 5% in the next quarter by reducing the cost of goods sold
• To achieve a net income of $100,000 in the current fiscal year by increasing sales and reducing overhead costs

Ensuring Consistent Cash Flow

Cash flow is the amount of money that flows in and out of a company. A company needs to have enough cash to cover its operating expenses, pay its debts, invest in its growth, and reward its shareholders.

Some possible objectives for ensuring consistent cash flow for Sweet Treats are:

• Increase monthly operating cash inflow by 15% by the end of the year by improving the efficiency and productivity of the business processes
• Increase the cash flow from investing activities by selling or disposing of non-performing or obsolete assets

Creating and Maintaining Efficiency

Efficiency is the ratio of output to input. It measures how well a company uses its resources to produce its products or services. Efficiency can help a business improve its quality, productivity, customer satisfaction, and profitability.

Some possible objectives for creating and maintaining efficiency for Sweet Treats are:

• To reduce the production time by 10% in the next month by implementing lean manufacturing techniques
• To increase the customer service response rate by 20% in the next week by using chatbots or automated systems

Winning and Keeping Clients

Clients are the people or organizations that buy or use the products or services of a company. They are the source of revenue and growth for a company. Therefore, winning and keeping clients is vital to generating steady revenue, increasing customer loyalty, and enhancing word-of-mouth marketing.

Some possible objectives for winning and keeping clients for Sweet Treats are:

• To acquire 100 new clients in the next quarter by launching a referral program or a promotional campaign
• To retain 90% of existing clients in the current year by offering loyalty rewards or satisfaction guarantees

Building a Recognizable Brand

A brand is the name, logo, design, or other features distinguishing a company from its competitors. It represents the identity, reputation, and value proposition of a company. Building a recognizable brand is crucial for attracting and retaining clients and creating a loyal fan base.

Some possible objectives for building a recognizable brand for Sweet Treats are:

• To increase brand awareness by 50% in the next six months by creating and distributing engaging content on social media platforms
• To improve brand image by 30% in the next year by participating in social causes or sponsoring events that align with the company’s values

Expanding and Nurturing an Audience with Marketing

An audience is a group of people interested in or following a company’s products or services. They can be potential or existing clients, fans, influencers, or partners. Expanding and nurturing an audience with marketing is essential for increasing a company’s visibility, reach, and engagement.

Some possible objectives for expanding and nurturing an audience with marketing for Sweet Treats are:

• To grow the email list by 1,000 subscribers in the next month by offering a free ebook or a webinar
• To nurture leads by sending them relevant and valuable information through email newsletters or blog posts

Strategizing for Expansion

Expansion is the process of increasing a company’s size, scope, or scale. It can involve entering new markets, launching new products or services, opening new locations, or forming new alliances. Strategizing for expansion is important for diversifying revenue streams, reaching new audiences, and gaining competitive advantages.

Some possible objectives for strategizing for expansion for Sweet Treats are:

• To launch a new product or service line by developing and testing prototypes
• To open a new branch or franchise by securing funding and hiring staff

Template for Business Objectives

A template for writing business objectives is a format or structure that can be used as a guide or reference for creating your objectives. A template for writing business objectives can help you to ensure that your objectives are SMART, clear, concise, and consistent.

To use this template, fill in the blanks with your information. Here is an example of how you can use this template:

Example of Business Objectives

Our business is a _____________ (type of business) that provides _____________ (products or services) to _____________ (target market). Our vision is to _____________ (vision statement) and our mission is to _____________ (mission statement).

Our long-term business goals and objectives for the next _____________ (time period) are:

S pecific: We want to _____________ (specific goal) by _____________ (specific action).

M easurable: We will measure our progress by _____________ (quantifiable indicator).

A chievable: We have _____________ (resources, capabilities, constraints) that will enable us to achieve this goal.

R elevant: This goal supports our vision and mission by _____________ (benefit or impact).

T ime-bound: We will complete this goal by _____________ (deadline).

Repeat this process for each goal and objective for your business plan.

How to Monitor Your Business Objectives?

After setting goals and objectives for your business plan, you should check them regularly to see if you are achieving them. Monitoring your business objectives can help you to:

• Track your progress and performance
• Identify and overcome any challenges
• Adjust your actions and strategies as needed

Some of the tools and methods that you can use to monitor your business objectives are:

• Dashboards – Show key data and metrics for your objectives with tools like Google Data Studio, Databox, or DashThis.
• Reports – Get detailed information and analysis for your objectives with tools like Google Analytics, Google Search Console, or SEMrush.
• Feedback – Learn from your customers and their needs and expectations with tools like SurveyMonkey, Typeform, or Google Forms.

Strategies for Realizing Business Objectives

To achieve your business objectives, you need more than setting and monitoring them. You need strategies and actions that support them. Strategies are the general methods to reach your objectives. Actions are the specific steps to implement your strategies.

Different objectives require different strategies and actions. Some common types are:

• Marketing strategies
• Operational strategies
• Financial strategies
• Human resource strategies
• Growth strategies

To implement effective strategies and actions, consider these factors:

• Alignment – They should match your vision, mission, values, goals, and objectives
• Feasibility – They should be possible with your capabilities, resources, and constraints
• Suitability – They should fit the context and needs of your business

How OGSCapital Can Help You Achieve Your Business Objectives?

We at OGSCapital can help you with your business plan and related documents. We have over 15 years of experience writing high-quality business plans for various industries and regions. We have a team of business plan experts who can assist you with market research, financial analysis, strategy formulation, and presentation design. We can customize your business plan to suit your needs and objectives, whether you need funding, launching, expanding, or entering a new market. We can also help you with pitch decks, executive summaries, feasibility studies, and grant proposals. Contact us today for a free quote and start working on your business plan.

Frequently Asked Questions

What are the goals and objectives in business.

Goals and objectives in a business plan are the desired outcomes that a company works toward. To describe company goals and objectives for a business plan, start with your mission statement and then identify your strategic and operational objectives. To write company objectives, you must brainstorm, organize, prioritize, assign, track, and review them using the SMART framework and KPIs.

What are the examples of goals and objectives in a business plan?

Examples of goals and objectives in a business plan are: Goal: To increase revenue by 10% each year for the next five years. Objective: To launch a new product line and create a marketing campaign to reach new customers.

What are the 4 main objectives of a business?

The 4 main objectives of a business are economic, social, human, and organic. Economic objectives deal with financial performance, social objectives deal with social responsibility, human objectives deal with employee welfare, and organic objectives deal with business growth and development.

What are goals and objectives examples?

Setting goals and objectives for a business plan describes what a business or a team wants to achieve and how they will do it. For example: Goal: To provide excellent customer service. Objective: To increase customer satisfaction scores by 20% by the end of the quarter. 

At OGSCapital, our business planning services offer expert guidance and support to create a realistic and actionable plan that aligns with your vision and mission. Get in touch to discuss further!

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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Setting Business Goals & Objectives: 4 Considerations

• 31 Oct 2023

Setting business goals and objectives is important to your company’s success. They create a roadmap to help you identify and manage risk , gain employee buy-in, boost team performance , and execute strategy . They’re also an excellent marker to measure your business’s performance.

Yet, meeting those goals can be difficult. According to an Economist study , 90 percent of senior executives from companies with annual revenues of one billion dollars or more admitted they failed to reach all their strategic goals because of poor implementation. In order to execute strategy, it’s important to first understand what’s attainable when developing organizational goals and objectives.

If you’re struggling to establish realistic benchmarks for your business, here’s an overview of what business goals and objectives are, how to set them, and what you should consider during the process.

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What Are Business Goals and Objectives?

Business objectives dictate how your company plans to achieve its goals and address the business’s strengths, weaknesses, and opportunities. While your business goals may shift, your objectives won’t until there’s an organizational change .

Business goals describe where your company wants to end up and define your business strategy’s expected achievements.

According to the Harvard Business School Online course Strategy Execution , there are different types of strategic goals . Some may even push you and your team out of your comfort zone, yet are important to implement.

For example, David Rodriguez, global chief human resources officer at Marriott, describes in Strategy Execution the importance of stretch goals and “pushing people to not accept today's level of success as a final destination but as a starting point for what might be possible in the future.”

It’s important to strike a balance between bold and unrealistic, however. To do this, you must understand how to responsibly set your business goals and objectives.

Related: A Manager’s Guide To Successful Strategy Implementation

How to Set Business Goals and Objectives

While setting your company’s business goals and objectives might seem like a simple task, it’s important to remember that these goals shouldn’t be based solely on what you hope to achieve. There should be a correlation between your company’s key performance indicators (KPIs)—quantifiable success measures—and your business strategy to justify why the goal should, and needs to, be achieved.

This is often illustrated through a strategy map —an illustration of the cause-and-effect relationships that underpin your strategy. This valuable tool can help you identify and align your business goals and objectives.

“A strategy map gives everyone in your business a road map to understand the relationship between goals and measures and how they build on each other to create value,” says HBS Professor Robert Simons in Strategy Execution .

While this roadmap can be incredibly helpful in creating the right business goals and objectives, a balanced scorecard —a tool to help you track and assess non-financial measures—ensures they’re achievable through your current business strategy.

“Ask yourself, if I picked up a scorecard and examined the measures on that scorecard, could I infer what the business's strategy was,” Simon says. “If you've designed measures well, the answer should be yes.”

According to Strategy Execution , these measures are necessary to ensure your performance goals are achieved. When used in tandem, a balanced scorecard and strategy map can also tell you whether your goals and objectives will create value for you and your customers.

“The balanced scorecard combines the traditional financial perspective with additional perspectives that focus on customers, internal business processes, and learning and development,” Simons says.

These four perspectives are key considerations when setting your business goals and objectives. Here’s an overview of what those perspectives are and how they can help you set the right goals for your business.

4 Things to Consider When Setting Business Goals and Objectives

1. financial measures.

It’s important to ensure your plans and processes lead to desired levels of economic value. Therefore, some of your business goals and objectives should be financial.

Some examples of financial performance goals include:

• Cutting costs
• Increasing revenue
• Improving cash flow management

“Businesses set financial goals by building profit plans—one of the primary diagnostic control systems managers use to execute strategy,” Simons says in Strategy Execution . “They’re budgets drawn up for business units that have both revenues and expenses, and summarize the anticipated revenue inflows and expense outflows for a specified accounting period.”

Profit plans are essential when setting your business goals and objectives because they provide a critical link between your business strategy and economic value creation.

According to Simons, it’s important to ask three questions when profit planning:

• Does my business strategy generate enough profit to cover costs and reinvest in the business?
• Does my business generate enough cash to remain solvent through the year?
• Does my business create sufficient financial returns for investors?

By mapping out monetary value, you can weigh the cost of different strategies and how likely it is you’ll meet your company and investors’ financial expectations.

2. Customer Satisfaction

To ensure your business goals and objectives aid in your company’s long-term success, you need to think critically about your customers’ satisfaction. This is especially important in a world where customer reviews and testimonials are crucial to your organization’s success.

“Everything that's important to the business, we have a KPI and we measure it,” says Tom Siebel, founder, chairman, and CEO of C3.ai, in Strategy Execution . “And what could be more important than customer satisfaction?”

Unlike your company’s reputation, measuring customer satisfaction has a far more personal touch in identifying what customers love and how to capitalize on it through future strategic initiatives .

“We do anonymous customer satisfaction surveys every quarter to see how we're measuring up to our customer expectations,” Siebel says.

While this is one example, your customer satisfaction measures should reflect your desired market position and focus on creating additional value for your audience.

Related: 3 Effective Methods for Assessing Customer Needs

3. Internal Business Processes

Internal business processes is another perspective that should factor into your goal setting. It refers to several aspects of your business that aren’t directly affected by outside forces. Since many goals and objectives are driven by factors such as business competition and market shifts, considering internal processes can create a balanced business strategy.

“Our goals are balanced to make sure we’re holistically managing the business from a financial performance, quality assurance, innovation, and human talent perspective,” says Tom Polen, CEO and president of Becton Dickinson, in Strategy Execution .

According to Strategy Execution , internal business operations are broken down into the following processes:

• Operations management
• Customer management

While improvements to internal processes aren’t driven by economic value, these types of goals can still reap a positive return on investment.

“We end up spending much more time on internal business process goals versus financial goals,” Polen says. “Because if we take care of them, the financial goals will follow at the end of the day.”

4. Learning and Growth Opportunities

Another consideration while setting business goals and objectives is learning and growth opportunities for your team. These are designed to increase employee satisfaction and productivity.

According to Strategy Execution , learning and growth opportunities touch on three types of capital:

• Human: Your employees and the skills and knowledge required for them to meet your company’s goals
• Information: The databases, networks, and IT systems needed to support your long-term growth
• Organization: Ensuring your company’s leadership and culture provide people with purpose and clear objectives

Employee development is a common focus for learning and growth goals. Through professional development opportunities , your team will build valuable business skills and feel empowered to take more risks and innovate.

To create a culture of innovation , it’s important to ensure there’s a safe space for your team to make mistakes—and even fail.

“We ask that people learn from their mistakes,” Rodriguez says in Strategy Execution . “It's really important to us that people feel it’s safe to try new things. And all we ask is people extract their learnings and apply it to the next situation.”

Achieve Your Business Goals

Business goals aren’t all about your organization’s possible successes. It’s also about your potential failures.

“When we set goals, we like to imagine a bright future with our business succeeding,” Simons says in Strategy Execution . “But to identify your critical performance variables, you need to engage in an uncomfortable exercise and consider what can cause your strategy to fail.”

Anticipating potential failures isn’t easy. Enrolling in an online course—like HBS Online’s Strategy Execution —can immerse you in real-world case studies of past strategy successes and failures to help you better understand where these companies went wrong and how to avoid it in your business.

Do you need help setting your business goals and objectives? Explore Strategy Execution —one of our online strategy courses —and download our free strategy e-book to gain the insights to create a successful strategy.

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The 7 Best Business Plan Examples (2024)

As an aspiring entrepreneur gearing up to start your own business , you likely know the importance of drafting a business plan. However, you might not be entirely sure where to begin or what specific details to include. That’s where examining business plan examples can be beneficial. Sample business plans serve as real-world templates to help you craft your own plan with confidence. They also provide insight into the key sections that make up a business plan, as well as demonstrate how to structure and present your ideas effectively.

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Example business plan

To understand how to write a business plan, let’s study an example structured using a seven-part template. Here’s a quick overview of those parts:

• Executive summary: A quick overview of your business and the contents of your business plan.
• Company description: More info about your company, its goals and mission, and why you started it in the first place.
• Market analysis: Research about the market and industry your business will operate in, including a competitive analysis about the companies you’ll be up against.
• Products and services: A detailed description of what you’ll be selling to your customers.
• Marketing plan: A strategic outline of how you plan to market and promote your business before, during, and after your company launches into the market.
• Logistics and operations plan: An explanation of the systems, processes, and tools that are needed to run your business in the background.
• Financial plan: A map of your short-term (and even long-term) financial goals and the costs to run the business. If you’re looking for funding, this is the place to discuss your request and needs.

7 business plan examples (section by section)

In this section, you’ll find hypothetical and real-world examples of each aspect of a business plan to show you how the whole thing comes together. 

• Executive summary

Your executive summary offers a high-level overview of the rest of your business plan. You’ll want to include a brief description of your company, market research, competitor analysis, and financial information. 

In this free business plan template, the executive summary is three paragraphs and occupies nearly half the page:

• Company description

You might go more in-depth with your company description and include the following sections:

• Nature of the business. Mention the general category of business you fall under. Are you a manufacturer, wholesaler, or retailer of your products?
• Background information. Talk about your past experiences and skills, and how you’ve combined them to fill in the market. 
• Business structure. This section outlines how you registered your company —as a corporation, sole proprietorship, LLC, or other business type.
• Industry. Which business sector do you operate in? The answer might be technology, merchandising, or another industry.
• Team. Whether you’re the sole full-time employee of your business or you have contractors to support your daily workflow, this is your chance to put them under the spotlight.

You can also repurpose your company description elsewhere, like on your About page, Instagram page, or other properties that ask for a boilerplate description of your business. Hair extensions brand Luxy Hair has a blurb on it’s About page that could easily be repurposed as a company description for its business plan. 

• Market analysis

Market analysis comprises research on product supply and demand, your target market, the competitive landscape, and industry trends. You might do a SWOT analysis to learn where you stand and identify market gaps that you could exploit to establish your footing. Here’s an example of a SWOT analysis for a hypothetical ecommerce business: 

You’ll also want to run a competitive analysis as part of the market analysis component of your business plan. This will show you who you’re up against and give you ideas on how to gain an edge over the competition. 

• Products and services

This part of your business plan describes your product or service, how it will be priced, and the ways it will compete against similar offerings in the market. Don’t go into too much detail here—a few lines are enough to introduce your item to the reader.

• Marketing plan

Potential investors will want to know how you’ll get the word out about your business. So it’s essential to build a marketing plan that highlights the promotion and customer acquisition strategies you’re planning to adopt. 

Most marketing plans focus on the four Ps: product, price, place, and promotion. However, it’s easier when you break it down by the different marketing channels . Mention how you intend to promote your business using blogs, email, social media, and word-of-mouth marketing. 

Here’s an example of a hypothetical marketing plan for a real estate website:

Logistics and operations

This section of your business plan provides information about your production, facilities, equipment, shipping and fulfillment, and inventory.

Financial plan

The financial plan (a.k.a. financial statement) offers a breakdown of your sales, revenue, expenses, profit, and other financial metrics. You’ll want to include all the numbers and concrete data to project your current and projected financial state.

In this business plan example, the financial statement for ecommerce brand Nature’s Candy includes forecasted revenue, expenses, and net profit in graphs.

It then goes deeper into the financials, citing:

• Funding needs
• Project cash-flow statement
• Project profit-and-loss statement
• Projected balance sheet

You can use Shopify’s financial plan template to create your own income statement, cash-flow statement, and balance sheet. 

Types of business plans (and what to write for each)

A one-page business plan is a pared down version of a standard business plan that’s easy for potential investors and partners to understand. You’ll want to include all of these sections, but make sure they’re abbreviated and summarized:

• Logistics and operations plan
• Financials 

A startup business plan is meant to secure outside funding for a new business. Typically, there’s a big focus on the financials, as well as other sections that help determine the viability of your business idea—market analysis, for example. Shopify has a great business plan template for startups that include all the below points:

• Market research: in depth
• Financials: in depth

Internal 

Your internal business plan acts as the enforcer of your company’s vision. It reminds your team of the long-term objective and keeps them strategically aligned toward the same goal. Be sure to include:

• Market research

Feasibility 

A feasibility business plan is essentially a feasibility study that helps you evaluate whether your product or idea is worthy of a full business plan. Include the following sections:

A strategic (or growth) business plan lays out your long-term vision and goals. This means your predictions stretch further into the future, and you aim for greater growth and revenue. While crafting this document, you use all the parts of a usual business plan but add more to each one:

• Products and services: for launch and expansion
• Market analysis: detailed analysis
• Marketing plan: detailed strategy
• Logistics and operations plan: detailed plan
• Financials: detailed projections

Free business plan templates

Now that you’re familiar with what’s included and how to format a business plan, let’s go over a few templates you can fill out or draw inspiration from.

Bplans’ free business plan template

Bplans’ free business plan template focuses a lot on the financial side of running a business. It has many pages just for your financial plan and statements. Once you fill it out, you’ll see exactly where your business stands financially and what you need to do to keep it on track or make it better.

PandaDoc’s free business plan template

PandaDoc’s free business plan template is detailed and guides you through every section, so you don’t have to figure everything out on your own. Filling it out, you’ll grasp the ins and outs of your business and how each part fits together. It’s also handy because it connects to PandaDoc’s e-signature for easy signing, ideal for businesses with partners or a board.

Miro’s Business Model Canvas Template

Miro’s Business Model Canvas Template helps you map out the essentials of your business, like partnerships, core activities, and what makes you different. It’s a collaborative tool for you and your team to learn how everything in your business is linked.

Better business planning equals better business outcomes

Building a business plan is key to establishing a clear direction and strategy for your venture. With a solid plan in hand, you’ll know what steps to take for achieving each of your business goals. Kickstart your business planning and set yourself up for success with a defined roadmap—utilizing the sample business plans above to inform your approach.

Business plan FAQ

What are the 3 main points of a business plan.

• Concept. Explain what your business does and the main idea behind it. This is where you tell people what you plan to achieve with your business.
• Contents. Explain what you’re selling or offering. Point out who you’re selling to and who else is selling something similar. This part concerns your products or services, who will buy them, and who you’re up against.
• Cash flow. Explain how money will move in and out of your business. Discuss the money you need to start and keep the business going, the costs of running your business, and how much money you expect to make.

How do I write a simple business plan?

To create a simple business plan, start with an executive summary that details your business vision and objectives. Follow this with a concise description of your company’s structure, your market analysis, and information about your products or services. Conclude your plan with financial projections that outline your expected revenue, expenses, and profitability.

What is the best format to write a business plan?

The optimal format for a business plan arranges your plan in a clear and structured way, helping potential investors get a quick grasp of what your business is about and what you aim to achieve. Always start with a summary of your plan and finish with the financial details or any extra information at the end.

Want to learn more?

• Question: Are You a Business Owner or an Entrepreneur?
• Bootstrapping a Business: 10 Tips to Help You Succeed
• Entrepreneurial Mindset: 20 Ways to Think Like an Entrepreneur
• 101+ Best Small Business Software Programs 

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24 of My Favorite Sample Business Plans & Examples For Your Inspiration

Published: February 06, 2024

I believe that reading sample business plans is essential when writing your own.

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As you explore business plan examples from real companies and brands, it’s easier for you to learn how to write a good one.

But what does a good business plan look like? And how do you write one that’s both viable and convincing. I’ll walk you through the ideal business plan format along with some examples to help you get started.

Table of Contents

Business Plan Format

Business plan types, sample business plan templates, top business plan examples.

Ask any successful sports coach how they win so many games, and they’ll tell you they have a unique plan for every single game. To me, the same logic applies to business.

If you want to build a thriving company that can pull ahead of the competition, you need to prepare for battle before breaking into a market.

Business plans guide you along the rocky journey of growing a company. And if your business plan is compelling enough, it can also convince investors to give you funding.

With so much at stake, I’m sure you’re wondering where to begin.

Free Business Plan Template

The essential document for starting a business -- custom built for your needs.

• Outline your idea.
• Pitch to investors.
• Secure funding.
• Get to work!

You're all set!

Click this link to access this resource at any time.

Fill out the form to get your free template.

First, you’ll want to nail down your formatting. Most business plans include the following sections.

1. Executive Summary

I’d say the executive summary is the most important section of the entire business plan. 

Why? Essentially, it's the overview or introduction, written in a way to grab readers' attention and guide them through the rest of the business plan. This is important, because a business plan can be dozens or hundreds of pages long.

There are two main elements I’d recommend including in your executive summary:

Company Description

This is the perfect space to highlight your company’s mission statement and goals, a brief overview of your history and leadership, and your top accomplishments as a business.

Tell potential investors who you are and why what you do matters. Naturally, they’re going to want to know who they’re getting into business with up front, and this is a great opportunity to showcase your impact.

Need some extra help firming up those business goals? Check out HubSpot Academy’s free course to help you set goals that matter — I’d highly recommend it

Products and Services

To piggyback off of the company description, be sure to incorporate an overview of your offerings. This doesn’t have to be extensive — just another chance to introduce your industry and overall purpose as a business.

In addition to the items above, I recommend including some information about your financial projections and competitive advantage here too.:

Keep in mind you'll cover many of these topics in more detail later on in the business plan. So, keep the executive summary clear and brief, and only include the most important takeaways.

Executive Summary Business Plan Examples

This example was created with HubSpot’s business plan template:

This executive summary is so good to me because it tells potential investors a short story while still covering all of the most important details.

Image Source

Tips for Writing Your Executive Summary

• Start with a strong introduction of your company, showcase your mission and impact, and outline the products and services you provide.
• Clearly define a problem, and explain how your product solves that problem, and show why the market needs your business.
• Be sure to highlight your value proposition, market opportunity, and growth potential.
• Keep it concise and support ideas with data.
• Customize your summary to your audience. For example, emphasize finances and return on investment for venture capitalists.

Check out our tips for writing an effective executive summary for more guidance.

2. Market Opportunity

This is where you'll detail the opportunity in the market.

The main question I’d ask myself here is this: Where is the gap in the current industry, and how will my product fill that gap?

More specifically, here’s what I’d include in this section:

• The size of the market
• Current or potential market share
• Trends in the industry and consumer behavior
• Where the gap is
• What caused the gap
• How you intend to fill it

To get a thorough understanding of the market opportunity, you'll want to conduct a TAM, SAM, and SOM analysis and perform market research on your industry.

You may also benefit from creating a SWOT analysis to get some of the insights for this section.

Market Opportunity Business Plan Example

I like this example because it uses critical data to underline the size of the potential market and what part of that market this service hopes to capture.

Tips for Writing Your Market Opportunity Section

• Focus on demand and potential for growth.
• Use market research, surveys, and industry trend data to support your market forecast and projections.
• Add a review of regulation shifts, tech advances, and consumer behavior changes.
• Refer to reliable sources.
• Showcase how your business can make the most of this opportunity.

3. Competitive Landscape

Since we’re already speaking of market share, you'll also need to create a section that shares details on who the top competitors are.

After all, your customers likely have more than one brand to choose from, and you'll want to understand exactly why they might choose one over another.

My favorite part of performing a competitive analysis is that it can help you uncover:

• Industry trends that other brands may not be utilizing
• Strengths in your competition that may be obstacles to handle
• Weaknesses in your competition that may help you develop selling points
• The unique proposition you bring to the market that may resonate with customers

Competitive Landscape Business Plan Example

I like how the competitive landscape section of this business plan below shows a clear outline of who the top competitors are.

It also highlights specific industry knowledge and the importance of location, which shows useful experience in this specific industry. 

This can help build trust in your ability to execute your business plan.

Tips for Writing Your Competitive Landscape

• Complete in-depth research, then emphasize your most important findings.
• Compare your unique selling proposition (USP) to your direct and indirect competitors.
• Show a clear and realistic plan for product and brand differentiation.
• Look for specific advantages and barriers in the competitive landscape. Then, highlight how that information could impact your business.
• Outline growth opportunities from a competitive perspective.
• Add customer feedback and insights to support your competitive analysis.

4. Target Audience

Use this section to describe who your customer segments are in detail. What is the demographic and psychographic information of your audience?

If your immediate answer is "everyone," you'll need to dig deeper. Here are some questions I’d ask myself here:

• What demographics will most likely need/buy your product or service?
• What are the psychographics of this audience? (Desires, triggering events, etc.)
• Why are your offerings valuable to them?

I’d also recommend building a buyer persona to get in the mindset of your ideal customers and be clear on why you're targeting them.

Target Audience Business Plan Example

I like the example below because it uses in-depth research to draw conclusions about audience priorities. It also analyzes how to create the right content for this audience.

Tips for Writing Your Target Audience Section

• Include details on the size and growth potential of your target audience.
• Figure out and refine the pain points for your target audience , then show why your product is a useful solution.
• Describe your targeted customer acquisition strategy in detail.
• Share anticipated challenges your business may face in acquiring customers and how you plan to address them.
• Add case studies, testimonials, and other data to support your target audience ideas.
• Remember to consider niche audiences and segments of your target audience in your business plan.

5. Marketing Strategy

Here, you'll discuss how you'll acquire new customers with your marketing strategy. I’d suggest including information:

• Your brand positioning vision and how you'll cultivate it
• The goal targets you aim to achieve
• The metrics you'll use to measure success
• The channels and distribution tactics you'll use

I think it’s helpful to have a marketing plan built out in advance to make this part of your business plan easier.

Marketing Strategy Business Plan Example

This business plan example includes the marketing strategy for the town of Gawler.

In my opinion, it really works because it offers a comprehensive picture of how they plan to use digital marketing to promote the community.

Tips for Writing Your Marketing Strategy

• Include a section about how you believe your brand vision will appeal to customers.
• Add the budget and resources you'll need to put your plan in place.
• Outline strategies for specific marketing segments.
• Connect strategies to earlier sections like target audience and competitive analysis.
• Review how your marketing strategy will scale with the growth of your business.
• Cover a range of channels and tactics to highlight your ability to adapt your plan in the face of change.

6. Key Features and Benefits

At some point in your business plan, you'll need to review the key features and benefits of your products and/or services.

Laying these out can give readers an idea of how you're positioning yourself in the market and the messaging you're likely to use. It can even help them gain better insight into your business model.

Key Features and Benefits Business Plan Example

In my opinion, the example below does a great job outlining products and services for this business, along with why these qualities will attract the audience.

Tips for Writing Your Key Features and Benefits

• Emphasize why and how your product or service offers value to customers.
• Use metrics and testimonials to support the ideas in this section.
• Talk about how your products and services have the potential to scale.
• Think about including a product roadmap.
• Focus on customer needs, and how the features and benefits you are sharing meet those needs.
• Offer proof of concept for your ideas, like case studies or pilot program feedback.
• Proofread this section carefully, and remove any jargon or complex language.

7. Pricing and Revenue

This is where you'll discuss your cost structure and various revenue streams. Your pricing strategy must be solid enough to turn a profit while staying competitive in the industry. 

For this reason, here’s what I’d might outline in this section:

• The specific pricing breakdowns per product or service
• Why your pricing is higher or lower than your competition's
• (If higher) Why customers would be willing to pay more
• (If lower) How you're able to offer your products or services at a lower cost
• When you expect to break even, what margins do you expect, etc?

Pricing and Revenue Business Plan Example

I like how this business plan example begins with an overview of the business revenue model, then shows proposed pricing for key products.

Tips for Writing Your Pricing and Revenue Section

• Get specific about your pricing strategy. Specifically, how you connect that strategy to customer needs and product value.
• If you are asking a premium price, share unique features or innovations that justify that price point.
• Show how you plan to communicate pricing to customers.
• Create an overview of every revenue stream for your business and how each stream adds to your business model as a whole.
• Share plans to develop new revenue streams in the future.
• Show how and whether pricing will vary by customer segment and how pricing aligns with marketing strategies.
• Restate your value proposition and explain how it aligns with your revenue model.

8. Financials

To me, this section is particularly informative for investors and leadership teams to figure out funding strategies, investment opportunities, and more.

 According to Forbes , you'll want to include three main things:

• Profit/Loss Statement - This answers the question of whether your business is currently profitable.
• Cash Flow Statement - This details exactly how much cash is incoming and outgoing to give insight into how much cash a business has on hand.
• Balance Sheet - This outlines assets, liabilities, and equity, which gives insight into how much a business is worth.

While some business plans might include more or less information, these are the key details I’d include in this section.

Financials Business Plan Example

This balance sheet is a great example of level of detail you’ll need to include in the financials section of your business plan.

Tips for Writing Your Financials Section

• Growth potential is important in this section too. Using your data, create a forecast of financial performance in the next three to five years.
• Include any data that supports your projections to assure investors of the credibility of your proposal.
• Add a break-even analysis to show that your business plan is financially practical. This information can also help you pivot quickly as your business grows.
• Consider adding a section that reviews potential risks and how sensitive your plan is to changes in the market.
• Triple-check all financial information in your plan for accuracy.
• Show how any proposed funding needs align with your plans for growth.

As you create your business plan, keep in mind that each of these sections will be formatted differently. Some may be in paragraph format, while others could be charts or graphs.

The formats above apply to most types of business plans. That said, the format and structure of your plan will vary by your goals for that plan. 

So, I’ve added a quick review of different business plan types. For a more detailed overview, check out this post .

1. Startups

Startup business plans are for proposing new business ideas.

If you’re planning to start a small business, preparing a business plan is crucial. The plan should include all the major factors of your business.

You can check out this guide for more detailed business plan inspiration .

2. Feasibility Studies

Feasibility business plans focus on that business's product or service. Feasibility plans are sometimes added to startup business plans. They can also be a new business plan for an already thriving organization.

3. Internal Use

You can use internal business plans to share goals, strategies, or performance updates with stakeholders. In my opinion, internal business plans are useful for alignment and building support for ambitious goals.

4. Strategic Initiatives

Another business plan that's often for sharing internally is a strategic business plan. This plan covers long-term business objectives that might not have been included in the startup business plan.

5. Business Acquisition or Repositioning

When a business is moving forward with an acquisition or repositioning, it may need extra structure and support. These types of business plans expand on a company's acquisition or repositioning strategy.

Growth sometimes just happens as a business continues operations. But more often, a business needs to create a structure with specific targets to meet set goals for expansion. This business plan type can help a business focus on short-term growth goals and align resources with those goals.

Now that you know what's included and how to format a business plan, let's review some of my favorite templates.

1. HubSpot's One-Page Business Plan

Download a free, editable one-page business plan template..

The business plan linked above was created here at HubSpot and is perfect for businesses of any size — no matter how many strategies we still have to develop.

Fields such as Company Description, Required Funding, and Implementation Timeline give this one-page business plan a framework for how to build your brand and what tasks to keep track of as you grow.

Then, as the business matures, you can expand on your original business plan with a new iteration of the above document.

Why I Like It

This one-page business plan is a fantastic choice for the new business owner who doesn’t have the time or resources to draft a full-blown business plan. It includes all the essential sections in an accessible, bullet-point-friendly format. That way, you can get the broad strokes down before honing in on the details.

2. HubSpot's Downloadable Business Plan Template

We also created a business plan template for entrepreneurs.

The template is designed as a guide and checklist for starting your own business. You’ll learn what to include in each section of your business plan and how to do it.

There’s also a list for you to check off when you finish each section of your business plan.

Strong game plans help coaches win games and help businesses rocket to the top of their industries. So if you dedicate the time and effort required to write a workable and convincing business plan, you’ll boost your chances of success and even dominance in your market.

This business plan kit is essential for the budding entrepreneur who needs a more extensive document to share with investors and other stakeholders.

It not only includes sections for your executive summary, product line, market analysis, marketing plan, and sales plan, but it also offers hands-on guidance for filling out those sections.

3. LiveFlow’s Financial Planning Template with built-in automation

This free template from LiveFlow aims to make it easy for businesses to create a financial plan and track their progress on a monthly basis.

The P&L Budget versus Actual format allows users to track their revenue, cost of sales, operating expenses, operating profit margin, net profit, and more.

The summary dashboard aggregates all of the data put into the financial plan sheet and will automatically update when changes are made.

Instead of wasting hours manually importing your data to your spreadsheet, LiveFlow can also help you to automatically connect your accounting and banking data directly to your spreadsheet, so your numbers are always up-to-date.

With the dashboard, you can view your runway, cash balance, burn rate, gross margins, and other metrics. Having a simple way to track everything in one place will make it easier to complete the financials section of your business plan.

This is a fantastic template to track performance and alignment internally and to create a dependable process for documenting financial information across the business. It’s highly versatile and beginner-friendly.

It’s especially useful if you don’t have an accountant on the team. (I always recommend you do, but for new businesses, having one might not be possible.)

4. ThoughtCo’s Sample Business Plan

One of the more financially oriented sample business plans in this list, BPlan’s free business plan template dedicates many of its pages to your business’s financial plan and financial statements.

After filling this business plan out, your company will truly understand its financial health and the steps you need to take to maintain or improve it.

I absolutely love this business plan template because of its ease-of-use and hands-on instructions (in addition to its finance-centric components). If you feel overwhelmed by the thought of writing an entire business plan, consider using this template to help you with the process.

6. Harvard Business Review’s "How to Write a Winning Business Plan"

Most sample business plans teach you what to include in your business plan, but this Harvard Business Review article will take your business plan to the next level — it teaches you the why and how behind writing a business plan.

With the guidance of Stanley Rich and Richard Gumpert, co-authors of " Business Plans That Win: Lessons From the MIT Enterprise Forum ", you'll learn how to write a convincing business plan that emphasizes the market demand for your product or service.

You’ll also learn the financial benefits investors can reap from putting money into your venture rather than trying to sell them on how great your product or service is.

This business plan guide focuses less on the individual parts of a business plan, and more on the overarching goal of writing one. For that reason, it’s one of my favorites to supplement any template you choose to use. Harvard Business Review’s guide is instrumental for both new and seasoned business owners.

7. HubSpot’s Complete Guide to Starting a Business

If you’re an entrepreneur, you know writing a business plan is one of the most challenging first steps to starting a business.

Fortunately, with HubSpot's comprehensive guide to starting a business, you'll learn how to map out all the details by understanding what to include in your business plan and why it’s important to include them. The guide also fleshes out an entire sample business plan for you.

If you need further guidance on starting a business, HubSpot's guide can teach you how to make your business legal, choose and register your business name, and fund your business. It will also give small business tax information and includes marketing, sales, and service tips.

This comprehensive guide will walk you through the process of starting a business, in addition to writing your business plan, with a high level of exactitude and detail. So if you’re in the midst of starting your business, this is an excellent guide for you.

It also offers other resources you might need, such as market analysis templates.

8. Panda Doc’s Free Business Plan Template

PandaDoc’s free business plan template is one of the more detailed and fleshed-out sample business plans on this list. It describes what you should include in each section, so you don't have to come up with everything from scratch.

Once you fill it out, you’ll fully understand your business’ nitty-gritty details and how all of its moving parts should work together to contribute to its success.

This template has two things I love: comprehensiveness and in-depth instructions. Plus, it’s synced with PandaDoc’s e-signature software so that you and other stakeholders can sign it with ease. For that reason, I especially love it for those starting a business with a partner or with a board of directors.

9. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers several free business plan templates that can be used to inspire your own plan.

Before you get started, you can decide what type of business plan you need — a traditional or lean start-up plan.

Then, you can review the format for both of those plans and view examples of what they might look like.

We love both of the SBA’s templates because of their versatility. You can choose between two options and use the existing content in the templates to flesh out your own plan. Plus, if needed, you can get a free business counselor to help you along the way.

I’ve compiled some completed business plan samples to help you get an idea of how to customize a plan for your business.

I chose different types of business plan ideas to expand your imagination. Some are extensive, while others are fairly simple.

Let’s take a look.

1. LiveFlow

One of the major business expenses is marketing. How you handle your marketing reflects your company’s revenue.

I included this business plan to show you how you can ensure your marketing team is aligned with your overall business plan to get results. The plan also shows you how to track even the smallest metrics of your campaigns, like ROI and payback periods instead of just focusing on big metrics like gross and revenue.

Fintech startup, LiveFlow, allows users to sync real-time data from its accounting services, payment platforms, and banks into custom reports. This eliminates the task of pulling reports together manually, saving teams time and helping automate workflows.

"Using this framework over a traditional marketing plan will help you set a profitable marketing strategy taking things like CAC, LTV, Payback period, and P&L into consideration," explains LiveFlow co-founder, Lasse Kalkar .

When it came to including marketing strategy in its business plan, LiveFlow created a separate marketing profit and loss statement (P&L) to track how well the company was doing with its marketing initiatives.

This is a great approach, allowing businesses to focus on where their marketing dollars are making the most impact. Having this information handy will enable you to build out your business plan’s marketing section with confidence. LiveFlow has shared the template here . You can test it for yourself.

2. Lula Body

Sometimes all you need is a solid mission statement and core values to guide you on how to go about everything. You do this by creating a business plan revolving around how to fulfill your statement best.

For example, Patagonia is an eco-friendly company, so their plan discusses how to make the best environmentally friendly products without causing harm.

A good mission statement  should not only resonate with consumers but should also serve as a core value compass for employees as well.

Patagonia has one of the most compelling mission statements I’ve seen:

"Together, let’s prioritise purpose over profit and protect this wondrous planet, our only home."

It reels you in from the start, and the environmentally friendly theme continues throughout the rest of the statement.

This mission goes on to explain that they are out to "Build the best product, cause no unnecessary harm, and use business to protect nature."

Their mission statement is compelling and detailed, with each section outlining how they will accomplish their goal.

4. Vesta Home Automation

This executive summary for a smart home device startup is part of a business plan created by students at Mount Royal University .

While it lacks some of the sleek visuals of the templates above, its executive summary does a great job of demonstrating how invested they are in the business.

Right away, they mention they’ve invested $200,000 into the company already, which shows investors they have skin in the game and aren’t just looking for someone else to foot the bill.

This is the kind of business plan you need when applying for business funds. It clearly illustrates the expected future of the company and how the business has been coming along over the years.

5. NALB Creative Center

This fictional business plan for an art supply store includes everything one might need in a business plan: an executive summary, a company summary, a list of services, a market analysis summary, and more.

One of its most notable sections is its market analysis summary, which includes an overview of the population growth in the business’ target geographical area, as well as a breakdown of the types of potential customers they expect to welcome at the store. 

This sort of granular insight is essential for understanding and communicating your business’s growth potential. Plus, it lays a strong foundation for creating relevant and useful buyer personas .

It’s essential to keep this information up-to-date as your market and target buyer changes. For that reason, you should carry out market research as often as possible to ensure that you’re targeting the correct audience and sharing accurate information with your investors.

Due to its comprehensiveness, it’s an excellent example to follow if you’re opening a brick-and-mortar store and need to get external funding to start your business .

6. Curriculum Companion Suites (CSS)

If you’re looking for a SaaS business plan example, look no further than this business plan for a fictional educational software company called Curriculum Companion Suites. 

Like the business plan for the NALB Creative Center, it includes plenty of information for prospective investors and other key stakeholders in the business.

One of the most notable features of this business plan is the executive summary, which includes an overview of the product, market, and mission.

The first two are essential for software companies because the product offering is so often at the forefront of the company’s strategy. Without that information being immediately available to investors and executives, then you risk writing an unfocused business plan.

It’s essential to front-load your company’s mission if it explains your "Why?" and this example does just that. In other words, why do you do what you do, and why should stakeholders care? This is an important section to include if you feel that your mission will drive interest in the business and its offerings.

7. Culina Sample Business Plan

Culina's sample business plan is an excellent example of how to lay out your business plan so that it flows naturally, engages readers, and provides the critical information investors and stakeholders need. 

You can use this template as a guide while you're gathering important information for your own business plan. You'll have a better understanding of the data and research you need to do since Culina’s plan outlines these details so flawlessly for inspiration.

8. Plum Sample Business Plan

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Human Resources | Tip List

10 SMART Goals Examples for Small Businesses (+ Free Template)

Published January 23, 2023

Published Jan 23, 2023

WRITTEN BY: Rebecca Michael

Utilizing the SMART goals methodology will help your company achieve its strategic objectives. SMART stands for specific, measurable, achievable, relevant, and time-bound goals. This strategy will focus your team members on the most important objectives for your business, which will help you in achieving them efficiently.

We outlined some SMART goals examples you can use to help you create your own and stay focused on what you’re trying to achieve. Practical application is the best way to truly understand how SMART goals are utilized in small business today. These examples show you how you might apply the process for your own business.

1. Create a Marketing Plan for a New Business Within 1 Month

When starting a new business, there are plans within plans to make. Creating the marketing plan for the new company is an important SMART goal.

• Specific: We need to create a marketing plan that has a specific outline we can follow to ensure we covered the most important information.
• Measurable: Each week of the month, we will finalize 25% of the plan’s details to ensure completion within one month.
• Achievable: One month should be plenty of time to do all the market research and company analysis required to create a good marketing plan.
• Relevant: Without a solid plan for marketing, the company is missing a crucial component to success.
• Time-bound: The time limit is one month.

Check out our guides to writing a marketing plan and creating an effective blog content strategy for additional information on SMART marketing goals.

2. Pay Off $10,000 in Business Debt Within 30 Months

Setting financial goals is an important step toward gaining control of your business finances. One SMART goal example may be to pay down the company’s debt, thus making more money available for employee pay increases and other projects.

• Specific: Pay off $10,000.
• Measurable: We can measure progress by monitoring our cash accounts as we go, and track how we are doing month to month.
• Achievable: We will achieve this by spending less on growth-goal related items and will work to encourage vendors to pay on time and in full.
• Relevant: We will highlight development and project opportunities throughout the year that can benefit from increased investment once the debt is paid down.
• Time-bound: Within 30 months, we will achieve our objective.

Did You Know?

SMART goals actually do work. According to a study by Dominican University , 76% of people that recorded their goals, created actionable steps to do and reported on them weekly to another person achieved their goals. This is 33% better than those who didn’t write down their goals.

3. Set Up a Remote Sales Networking System Within 7 Days

This scenario became painfully real to many companies in the early months of 2020. Setting SMART goals for transitioning to remote operations at the beginning of the COVID-19 pandemic was an important part of maintaining an effective sales culture during a very stressful time. This SMART goal example is rooted in a real-world experience that many people faced.

• Specific: Every member of our remote sales team should be connected and operational.
• Measurable: The task is complete when the networking system is operating and our remote workers are able to work.
• Achievable: Although this goal might be ambitious, we can move this to the top of our priority list and temporarily pull in resources from longer-term projects to complete this necessary goal.
• Relevant: Remote work is a good setup even when there’s not a pandemic making it necessary. In 2020, remote networking allowed companies to continue operating. In a post-COVID world, remote networking helps employees be productive and companies achieve results.
• Time-bound: The time limitation for this goal is seven days.

4. Increase New Customer Reviews by 30% Year Over Year

Most companies’ growth these days has to do with the brand awareness your business has in the market. One of your most important goals in brand cultivation is your brand awareness growth throughout the year.

One SMART goal example for this: The number of new customer reviews we get must increase 30% on a year-over-year (YoY) basis.

• Specific: Increase customer reviews by 30%.
• Measurable: We measure our progress through monthly reporting, and it shows if we reach our target or not.
• Achievable: We increased our customer reviews last year by 20%. We believe the 30% target is achievable.
• Relevant: Based on our research to date, an increase in the number of customer reviews corresponds with increased sales in our top growth channels.
• Time-bound: This is a YoY comparison.

5. Ensure All Our Overseas Factory Workers Are Paid a Living Wage Within 3 Months

As consumers become more conscious of where their goods come from, the demand for ethically sourced products increases. If you source your products ethically, you can gain customer loyalty and charge a premium while doing it.

The word “ethical” is vague and can mean many things. Different companies have different standards of ethics that they are able and willing to implement. For example, you might insist that the overseas workers who make your product be paid 25% higher than the average wage for that industry, or that your production lines provide well-paying jobs and valuable job training to women escaping domestic violence. You might also make your manufacturing carbon-neutral by planting trees to offset the carbon emissions produced in creating your products. In this SMART goals example, the specific goal is to vet the working conditions of our overseas factories and ensure that all workers are paid a living wage.

• Specific: We are focused on all our overseas factory workers earning a living wage.
• Measurable: We will request cost of living data from our overseas partners and then evaluate their compliance with our living wage goal or select new partners on a region-by-region basis.
• Achievable: Since we already work with overseas factories, vetting suppliers and choosing new partners based on our updated requirements is an achievable goal.
• Relevant: Many customers base their spending habits on their ethical values. Sourcing our products ethically will help us win loyal customers.
• Time-bound: The goal is to accomplish this within three months.

6. Grow Worldwide Market Share of Our Top-selling Software at Least 10% by the End of the Year

Growing market share is the goal of most organizations, large or small.

• Specific: We know the geographic area, the product line, and the level of growth (10%) we’re looking for.
• Measurable: We will be able to measure our goal by tracking new customers, growth in new markets, and overall growth in current markets.
• Achievable: We grew, overall, by 8% last year and we feel this increased goal is doable.
• Relevant: Growth in market share often results in higher revenue and more customers, among other benefits.
• Time-bound: We will reach our goal by the end of the year.

It’s very important to create and use SMART objectives because they provide a frame of reference for all involved. That way, at the end of the period being measured your team can reassess whether or not it was truly “achievable.”

7. Transition IT Support From Contract to In-house in 6 Months

All companies that use computers have to have IT support. Many companies hire IT support companies to take care of their computer needs. As a company grows, it might become more financially beneficial to create an IT department and handle those needs in-house rather than contracting out to a service, as in this SMART goal example.

• Specific: This goal requires adding a new department to the organization structure and staffing it.
• Measurable: This goal is measurable by the existence or non-existence of an IT department. The number of people who will need to be hired is another measurement that will be determined in a sub-goal of this overarching goal because SMART goals can and usually do have additional goals required to make the plan happen.
• Achievable: This is a reasonable timeline for this goal, and we have the resources and expertise to create this department and hire qualified people.
• Relevant: An in-house IT department will save us time and money and make our employees more productive by decreasing technology-related downtime.
• Time-bound: The timeline for this goal is six months.

8. Plan 5 Customer Education Webinars by the Fourth Quarter

A good idea here may be to plan and execute five customer education webinars by the fourth quarter with 15-plus attendees per event and at least 80% highly satisfied or very satisfied responses regarding content.

• Specific: The goal is to plan five webinars.
• Measurable: We will assess the number of attendees in each webinar and distribute and analyze attendee survey results.
• Achievable: The personnel and system resources are available and the need is active.
• Relevant: These webinars will help generate additional customers and/or our brand will establish expertise in the market.
• Time-bound: We will have this completed by the fourth quarter of the current year.

9. Increase Sales Cold Calls by 10% This Year

In many businesses, cold calls are key to sales. Whether you’re doing business-to-business or direct-to-customer sales, if your business model requires you to reach out, then increasing your cold calls can be the key to setting higher sales goals , as demonstrated in this SMART goals example.

• Specific: We want to make 10% more cold calls this year than last year.
• Measurable: It is easy to compare the number of calls made last year to the number of calls made this year.
• Achievable: We can add incentives to push our team to make more calls. If we need to hire more people or move some part-time employees to full-time, we can do that.
• Relevant: If the conversion rate for our calls remains constant, this will increase our overall sales.
• Time-bound: We have until the end of this year to complete this goal.

10. Increase Website Traffic 25% by December 2023

If your website is successful, you already are aware of your overall conversion rates, both in terms of click-throughs from search engines and social media and in terms of sales generated per click-through. Increasing your website traffic will increase your sales, as long as your sales conversion rate remains relatively constant, in this SMART business goals example.

• Specific: To increase the number of visitors that come to our site by 25%.
• Measurable: Increase our annual visitors from 100,000 to 125,000.
• Achievable: Our inbound marketing team has solid social media and content creation strategies in place. We can hire additional experts as needed to increase our visibility and our website traffic.
• Relevant:  The more traffic we have, the more money we make and the larger our reach.
• Time-bound: We want to complete this goal by December 2023.

According to the Center for Management & Organization Effectiveness, studies show that goal-setting teams enjoy 20%-25% improved performance . In addition, employees with goals are happier at work, less stressed, and more productive.

How SMART Goals Work

Here’s how each letter in a SMART goal acronym helps you focus your efforts to achieve desired results:

S = Specific

The “S” in a SMART goal stands for “Specificity.”

We all know that it helps us to remember to write down what we want to do, using action words. For example, instead of saying, “I want more clients,” you might say, “I’m going to sign up four new clients within this next quarter.” Being specific and using action verbs focuses you on what exactly you, or your team, needs to do. The key questions that you are asking you or your team are the following:

• What’s the objective?
• What needs to be accomplished?
• Who (what team) is responsible for completing or driving this task or project?
• What steps will you or your team take to achieve it?

In the following SMART goals examples, notice how the goals provide information about what exactly you need to do, even though you still need to outline further tasks and sub-goals to flesh out your plan.

M = Measurable

The “M” in a SMART goal helps you clarify and quantify your efforts so you can “Measure” them.

In the SMART goals example of signing up new clients, we can add the additional note that your goal is to increase, by four, the number of new clients. Although establishing a target may seem obvious, many fail to add this important component to their goal framework. In short, your measurements determine whether or not you achieve your goal.

A = Achievable

The “A” in SMART goals represents the goal’s “Achievability” factor.

This step reminds us to check to make sure the goal is within reach; is it practical? Experienced leaders will tell you that people are motivated by goals that stretch them, as long as they’re not unrealistic. Let’s assume, for example, four new clients is an achievable goal, but the timeline suggested is not. Ensure that you are both ambitious as well as practical.

R = Relevant

The “R” in SMART goals addresses the “Relevance” of the goal.

If your overall business plan calls for increasing profitability, instead of sales, perhaps new customers aren’t your primary goal. Instead of focusing on new customers you may need to focus on retention of existing customers and their profitability per sale transaction, price increases, or reducing production costs. Make sure the goal you set makes sense for you. In the following SMART goals examples, notice how Relevant often means “how will this benefit me?”

T = Time-bound

The “T” in SMART goals references the “Time” aspect of your goal.

Setting a time frame around your goals is essential; it not only identifies the end or conclusion of your goal’s duration, but motivates the identified endeavor. Working to achieve four new customers is fine, but if you don’t set a time frame it could diminish the objective overall as it could take much longer to achieve four customers than desired.

(ADD: Infographic template for SMART goals. Fill in the blank format, with the following entry fields: “S: What SPECIFICALLY do I want to do?” “M: How is this MEASURED?” “A: Is this ACHIEVABLE?” “R: How is this RELEVANT to my business?” “T: How much TIME do I have?”)

Do's and Don'ts in Setting SMART Goals

Now that you have seen some SMART goals examples, we want to share with you the “do’s and don’ts” of setting SMART goals. This shortlist has examples of what others have done in the past that have impeded their ability to set successful SMART goals and execute on them thoroughly.

As you can see, following a few simple rules and ensuring that your team follows suit will aid you in setting SMART goals that make sense to everyone on the team.

Additional Tips for Setting SMART Goals

There are strategies for getting your team on board with your SMART goals, which will make you more likely to be successful at implementing your goals. Keep these tips in mind while you’re considering your SMART business goals examples.

• Get your team involved . People are more passionate about goals they help create. Have your team brainstorm ideas, and involve them in the process of narrowing and selecting the goals they want to work on.
• Make a plan of action . There should be specific goals for each step of the way. This is like making mini-SMART goals to help you reach your overall SMART goal.
• Write it down . Every team member needs a copy of the plan, with the big goal and the smaller goals. This helps everyone stay on track.
• Evaluate, evaluate, evaluate . After every project, have everyone evaluate their own performance and the team’s performance as a whole. What was the goal? Did you achieve it? What went well? What went wrong? What could you have done better? What did you learn? What specific actions can you take to improve your performance in the future?
• Reassess the goals as needed . As you work on a project, you might find that you need to change your plan, or even adjust your broader SMART goal. Take time to make sure the plan you have is still in alignment with your overall goals and vision.
• Use a performance management system . It can be hard to keep up with all the elements of goal setting and follow-up, especially in a large organization. A performance management system can help you keep track of everything.

Bottom Line

Not having a goal is like hiking without a map or building a boat without a plan. Making your goals SMART ensures that you not only know what you want to achieve, but how you will get there (as well as a way to measure your progress along the way). We encourage you to read more about using SMART goals as part of your performance management process as well.

About the Author

Find Rebecca On LinkedIn

Rebecca Michael

Rebecca Michael has more than 15 years of experience in publishing and digital media. She previously served as a Head of Content and Editor-in-Chief for a large digital marketing company specializing in content strategies for small businesses. Rebecca has over 20 years of writing experience in online TV, blogs, and news sites. She is the Director of Content for Fit Small Business and The Close , where she’s developed topic teams of excellence that deliver high-quality content to our readers.

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How to write SMART goals

It’s easier to succeed when you have clearly defined objectives that are based in reality.

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5-second summary

• Teams often fall short of meeting their goals due to a lack of consensus on the definition of success.
• SMART goals use a specific set of criteria to help ensure that objectives are clearly defined and attainable within a certain timeframe.
• Working through each step of creating a SMART goal can reveal instances where priorities and resources are out of alignment.

Meet Jane. She’s a product manager at a mid-sized tech company – let’s call it Techfirm, Inc. Jane has been tasked with increasing usage of Techfirm’s mobile app.

She knows she’ll need all hands on deck to make this happen, but when Jane has set team-wide goals in the past, they’ve quickly fallen off track. Nobody seemed to have a clear understanding of what success should look like; progress wasn’t monitored closely enough, and inevitably, that important objective slipped to the back burner (before toppling off the stove entirely).

That’s why, this time around, Jane plans to leverage SMART goals for setting an action plan and staying the course.

Want to get started right now?

Use our template to define the different components of your SMART goal.

What are SMART goals?

The SMART in SMART goals stands for Specific, Measurable, Achievable, Relevant, and Time-Bound.

Defining these parameters as they pertain to your goal helps ensure that your objectives are attainable within a certain time frame. This approach eliminates generalities and guesswork, sets a clear timeline, and makes it easier to track progress and identify missed milestones.

An example of a SMART-goal statement might look like this: Our goal is to [quantifiable objective] by [timeframe or deadline]. [Key players or teams] will accomplish this goal by [what steps you’ll take to achieve the goal]. Accomplishing this goal will [result or benefit].

Let’s use Jane’s objective to work through each component.

S: Specific

In order for a goal to be effective, it needs to be specific. A specific goal answers questions like:

• What needs to be accomplished?
• Who’s responsible for it?
• What steps need to be taken to achieve it?

Thinking through these questions helps get to the heart of what you’re aiming for. Here’s an example of a specific goal Jane might come up with:

Grow the number of monthly users of Techfirm’s mobile app by optimizing our app-store listing and creating targeted social media campaigns.

M: Measurable

Don’t underestimate the outsized impact of short-term goals

Specificity is a solid start, but quantifying your goals (that is, making sure they’re measurable) makes it easier to track progress and know when you’ve reached the finish line.

Jane and her product team want to grow the number of their mobile app users – but by how much? If they get even one new signup, that’s technically positive growth – so does that mean they’re done? Same goes for their strategy – how many platforms will they advertise on? 

To make this SMART objective more impactful, Jane should incorporate measurable, trackable benchmarks.

Increase the number of monthly users of Techfirm’s mobile app by 1,000 by optimizing our app-store listing and creating targeted social media campaigns for four social media platforms: Facebook, Twitter, Instagram, and LinkedIn.

A: Achievable

This is the point in the process when you give yourself a serious reality check. Goals should be realistic –  not  pedestals from which you inevitably tumble. Ask yourself: is your objective something your team can reasonably accomplish?

Jane might look at her goal and realize that, given her small team and their heavy workload, creating ad campaigns for four social platforms might be biting off more than they can chew. She decides to scale back to the three social networks where she’s most likely to find new clients.

Increase the number of monthly users of Techfirm’s mobile app by 1,000 by optimizing our app-store listing and creating targeted social media campaigns for three social media platforms: Facebook, Twitter, and Instagram.

Safeguarding the achievability of your goal is much easier when you’re the one setting it. However, that’s not always the case. When goals are handed down from elsewhere, make sure to communicate any restraints you may be working under. Even if you can’t shift the end goal, at least you can make your position (and any potential roadblocks) known up-front.

R: Relevant

Here’s where you need to think about the big picture. Why are you setting the goal that you’re setting? Jane knows that the app is a huge driver of customer loyalty, and that an uptick in their app usage could mean big things for the company’s bottom-line revenue goals. Now she revises her statement to reflect that context.

Grow the number of monthly users of Techfirm’s mobile app by 1,000 by optimizing our app-store listing and creating targeted social media campaigns for three social media platforms: Facebook, Twitter, and Instagram. Because mobile users tend to use our product longer, growing our app usage will ultimately increase profitability.

T: Time-bound

To properly measure success, you and your team need to be on the same page about when a goal has been reached. What’s your time horizon? When will the team start creating and implementing the tasks they’ve identified? When will they finish?

SMART goals should have time-related parameters built in, so everybody knows how to stay on track within a designated time frame.

When Jane incorporates those dates, her SMART goal is complete.

Grow the number of monthly users of Techfirm’s mobile app by 1,000 within Q1 of 2022. This will be accomplished by optimizing our app-store listing and creating targeted social media campaigns, which will begin running in February 2022, on three social media platforms: Facebook, Twitter, and Instagram. Since mobile is our primary point of conversion for paid-customer signups, growing our app usage will ultimately increase sales.

Knowing how to set goals using the SMART framework can help you succeed in setting and attaining goals, no matter how large or small.

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How to Write a Nail Salon Business Plan + Free Sample Plan PDF

Elon Glucklich

7 min. read

Updated April 1, 2024

Download: Free one-page nail salon sample business plan

Nail trends are changing faster than ever. With social media fueling endless inspiration, people of all ages are embracing self-expression through their appearance, and their nails are no exception.

With the number of manicurists and pedicurists projected to grow 9% in the next decade, this burst of creativity is opening opportunities for nail technicians who dream of owning their own nail salon.

But just because the market is booming doesn’t mean anyone can start a nail salon and be successful. To build a financially stable business, you’ll need to have a sharp understanding of your ideal client, define the unique services that sets you apart, and develop smart marketing strategies to bring customers in your door.

A well-crafted business plan will help you focus your planning efforts on the tactics and strategies that attract loyal clients. And it’s key for convincing banks or investors if you need funding to get started.

• Nail salon business plan checklist

Here are a few sections we recommend including in a nail salon business plan:

Executive summary

• Products & services

Market analysis

• Marketing & sales plan
• Company overview
• Financial plan & forecasts

Writing a business plan thorough enough to impress lenders typically requires following a standard format. But if you aren’t seeking outside funding, you shouldn’t feel like you have to stick to that structure.

For instance, don’t spend too much time on the products and services section of your business plan if you’re writing it to determine how to market your business. Just include the sections that are relevant to your situation.

Here’s an example of a nail salon business plan outline. Just remember that your business plan might have different sections. It’s all about what you need for your business.

The executive summary is essentially your nail salon’s opening pitch. 

It shouldn’t be more than 1-2 pages, and should be written last, despite going first in the plan. Just outline the objective of your business, and your mission. 

Are you focused on intricate nail art, speedy manicures, or a luxurious spa-like experience? 

Then, describe the issue you solve for clients and your unique value proposition — the factor or factors that make you different from the competition. Some examples include:

• A unique combination of services
• An emphasis on naturally made products
• Partnerships with other beauty service providers (hair, makeup, etc.)

The executive summary is all about being concise, but capturing the reader’s interest so that they’ll want to read more.

Products and services

The products and services section is all about detailing your revenue streams. Start with your core nail services. Maybe you offer:

• Gel/acrylics

Once you’ve written down the basics, expand to emphasize any unique offerings, such as:

• Intricate designs
• Complementary services like aromatherapy
• Plant-based ingredients

You should mention any retail products you plan to sell, such as:

• Nail polishes
• Nail care kits
• Hand creams.

These are potentially additional revenue streams for your business. Use the products and services section to focus on your unique value proposition . Maybe you’re known for your eye-catching nail designs, or have partnerships with complementary businesses like hair salons. Anything that contributes to your sales and profitability is worth including.

This is where you get to know your target market and your competition. What’s the size of the nail salon market in your area? Can your customers be grouped factors like:

• Spending habits

The market analysis section should outline the specific groups in your community that you aim to serve, such as working professionals, students, or individuals seeking luxury treatments.

If you’re already running a nail salon, you likely have a sense of your customer demographics. But studying industry trends (like the growing demand for natural nail care) and whether they can help you understand how your customers’ motivations and desires might change over time.

Use your business plan to compile that research, and zero in on the demographics and desires of your perfect client . Maybe they’re:

• Busy professionals seeking quick lunchtime manicures
• Trend-conscious teens and young adults
• Parents looking for some relaxation

You should also scout out your competition . List other nearby salons in your plan, noting their strengths and weaknesses. How will you stand out and win customers over?

Marketing and sales plan

The marketing and sales plan describes your strategies to turn your target market into paying clients.

Start by detailing your strategies to reach customers. 

We recommend you prioritize social media channels , as they’re a major driver for the beauty industry. Platforms like TikTok and Instagram are ideal for showcasing your nail work. 

Other marketing tactics to consider include:

• Partnerships with local businesses
• Loyalty programs for returning customers
• Incentives for customers who bring friends to your business 

Whichever marketing channels you choose to invest in, remember that your market research and unique value proposition should inform the content you put out to entice consumers. 

For instance, if most of your customers are working professionals, determining other businesses they frequent and seeking our partnership opportunities with them could be a valuable approach. But if your clients are mostly high school and college students, you’re most likely to be successful with an engaging social media campaign.

Make sure to track the results of your marketing efforts as well, so you know which strategies are paying off.

Company Overview

The company overview is where you highlight your team and business history. (If you aren’t seeking a loan or investment, you can likely skip this section).

Outline your business structure . Are you a:

• Sole proprietor
• Partnership
• Corporation

Then, highlight your team. Even if it’s just you, summarize your experience and any special certifications you hold. If you have key employees like nail salon technicians, a manager, or an administrative assistant, list their experience and skills. And if you plan on hiring, briefly mention the skills you’ll be looking for in future team members.

If you already have customers or brand partnerships, mention them in this section as well.

Financial Plan

The financial plan is all about deciding how successful your business can be. You’ll need a few things:

Sales Forecast : How much do you realistically expect to bring in each month? Consider the average price of services and how many clients you can serve.

Profit and Loss (P&L) : This lists your income minus expenses. Don’t forget things like rent, nail polish, and staff salaries.

Cash Flow Statement : This shows when money comes in and goes out, which is crucial for managing bills.

Startup Costs : If you’re seeking a loan, itemize costs like salon equipment, initial inventory, and any renovations.

Detail the assumptions behind your profitability and starting capital projections to provide clarity on your market analysis and expectations. Also, outline any potential risks, such as economic downturns affecting discretionary spending. And if you’re seeking funding, outline here how you will use those funds to support your business operations.

This optional section is where you include extra materials that strengthen your main points, but don’t fit in the actual plan. 

Maybe you surveyed customers about their preferences for a new product line, or researched the demographics of your neighborhood online. 

Include those reports in the appendix, if you think anyone reading the plan will benefit from the additional information. 

Remember, only include items that truly add value to your plan.

• Download your free nail salon one page sample business plan

Download our nail salon sample business plan template right now for free. You can also view other salon and spa business plan templates , or browse Bplans’ gallery of more than 550 sample business plans to find more inspiration. 

In a space as full of entrepreneurs as the nail industry, standing out is crucial, and writing a business plan is one of the best ways to make sure you set yourself apart with a strategy that’s financially viable and built for long-term success.

And remember, you’ll need a plan if you’re looking for a loan or investment to fund your business.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

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Content Quicklinks:

✔ What is a Coaching Plan? ✔ What to Include in a Coaching Plan ✔ How to Write a Coaching Plan ✔ Coaching Plan Template ✔ Coaching Plan FAQs ✔ Build a Thriving Coaching Practice

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The secret to an effective coaching plan + free template.

Unlocking the full potential of your coaching clients takes more than just passion; it demands a structured approach. Coaching plans are the backbone of successful coaching relationships. They provide a clear roadmap for your coaching process and action steps for your client.

Let’s explore how you can create a step-by-step plan for your coaching process to maximize the results you deliver. You’ll also find a free coaching plan template in this article to fill in for each client when you start working together.

What is a Coaching Plan?

A coaching plan is a structured framework that outlines the goals and strategies of a coaching engagement. It serves as a roadmap for the coaching process with a clear direction for both the coach and the client.

It defines the client’s desired outcomes and breaks them down into key milestones to keep the sessions on track. Without it, your work with the client might float aimlessly, lack tangible results, and lead to missed opportunities.

If you coach with a plan, however, you can track and evaluate your client’s progress at every step and keep them accountable to take action. Working with clear benchmarks will help them take ownership of their personal growth and stay committed to the coaching process.

Your plan should be individual to each client and tailored to their aspirations and challenges. It should be clear enough to move the client’s progress in the desired direction but flexible enough to evolve as new insights emerge during the coaching relationship.

What to Include in a Coaching Plan

The most important part of an effective coaching plan is the client’s desired outcome when working with you. This should be clearly defined in your very first session with them and inform other elements of your coaching plan, such as:

• The goals that support that outcome
• The key milestones that will signal progress
• The action plan required to reach them
• A specific timeline
• The evaluation criteria for the client’s goals

The objectives you first define with your client might shift during your relationship. An “aha” moment might prompt them to refine their goals or head in a new direction.

For example, your client might come to you with a desire to build a million-dollar business. However, after digging deeper into their real motivations, they might discover that they want to feel seen and have a sense of purpose, which can be achieved in simpler ways.

[ Read: 12 Types Of Coaches and How They Win Clients In Their Niches ]

Even if you need to completely revise your coaching action plan at some point, its core elements stay the same. They should be built around the specific outcomes you and your client set for the coaching process and inform their next steps.

How to Write a Coaching Plan

Here’s how to write a plan that aligns your coaching process with the client’s goals and leads to meaningful results.

1. Establish Clear Goals

Begin by working with the client to clearly define their goals and desired outcomes for the coaching engagement. This is the time to dream; remove any mental limitations and encourage your client to expand their frame of mind.

For example, you can ask them:

• If everything was possible, what would you want to achieve?
• What would you do if time and money weren’t an issue for you?
• What did you always wish you could’ve done but never had the chance to?

It’s also worth exploring their core motivations to achieve these goals. A technique that helps do this is the five “whys.” By repeatedly asking your client why their objectives matter to them, you can get to the root of their desires and make sure they are aiming for what matters. 

Once you know your client’s goals, you can refine them with the SMART goals framework. Make sure their objectives are:

• Specific : Clarify the fine details of the goal, for example, by answering who, what, where, when, and why.
• Measurable : Make sure there’s a way to determine when the goal is achieved.
• Achievable : Ensure the goal is realistic and attainable, given the resources available.
• Relevant : Align the goal with the client’s values, priorities, and ultimate vision.
• Time-bound : Make sure the goal can be completed within a set time frame (more about this later).

There might be a lot that comes up in this process. Identify the specific areas or topics the coachee wants to focus on now in line with their priorities. Guide them to define their goals more specifically and decide which growth areas are more important to tackle first.

2. Break Them Down

Big goals can feel overwhelming to act on. To make them more digestible, define some clear milestones for them. For example:

• Running research to gather new information.
• Acquiring new skills to be able to work towards the goal.
• Getting the resources necessary to move on.
• Seeking out people who can help with their knowledge, advice, or support.
• Carrying out a smaller version of the same project.
• Developing a smaller version of the final outcome into something bigger.

If your client wants to launch a new business, an actionable plan with key milestones for them could include:

• Identifying their target market and niche
• Registering their business
• Developing their first product
• Creating branding materials, such as a website and a professional biography
• Testing and refining their product with a focus group
• Launching marketing campaigns to build brand awareness and attract customers
• Monitoring their sales performance and developing new strategies

Always keep in mind your client’s unique preferences instead of handing them a ready-made plan. Provide guidance to them but make sure they articulate their own objectives for themselves. Their goals and key milestones should be something they can wholeheartedly commit to.

3. Establish the Timeline

Goals are only effective if they are tied to a specific timeline. While big goals and milestones can have a broader deadline (for example, buying a new property in 5-10 years), short-term and mid-term steps should be defined within a specific time frame.

Your coaching plan should ideally revolve around a key milestone. For example, you may agree with your client to work towards overcoming their stage fright in the next 3 months. This way, they know what overarching objectives they are working towards while committing to a specific coaching process with you on a key target.

Writing down the exact date for a goal in your client notes can be extremely motivating. For example, “I’ll make my first sale by 31st March.” With Paperbell , you can store all your client notes and information in one place and refer back to them any time you need to.

4. Define Accountability Measures 

Outline and document the specific goals and milestones you’ll be working towards with the client. Based on this, you can define action steps at the end of each session with them to move closer to them.

If your client has certain responsibilities, for example, sending you a check-in every week, include that in your coaching plan too. For habits and action steps that need to be completed on a regular basis, you can set up a digital progress tracker where your coachee can check off the tasks that they have completed.

5. List Relevant Coaching Tools

Gather the exercises and tools that might help make your coaching process with the client more effective. These may be:

• Coaching questions
• Coaching models
• Assessments
• Additional resources
• Referrals to support groups or other professionals

This information is not for your shared notes with the client but for you only. If you feel they are hitting a roadblock or need more clarity on a particular area, you can always return to this customized toolkit to help them reach their next step.

Define and agree on the frequency of sessions with the client that would be most effective in helping them reach their goals. If you haven’t already, decide on the communication channels and the frequency of check-ins for your contract with them.

6. Review and Revise

Review your coaching plan regularly to ensure it still aligns with the client’s priorities, motivations, and values. Be open to their feedback and make any necessary revisions or adjustments based on their input.

Remember, your coaching plan should be flexible to evolve as the coaching relationship progresses and your client gains new insights. At the same time, it should serve as a basis for your sessions that you can refer back to and use to keep your client accountable.

Coaching Plan Template

Here’s a simple coaching plan template you can use with your clients.

Client Name:

Coaching Period:

1. Client overview: 

Describe the client’s profile, previous experience with coaching, and the main reason they approached you.

2. Client goals and milestones:

Define the client’s overarching goals and key milestones.

Key Milestones:

3. Timeline:

Establish a timeline and schedule for the coaching engagement with specific deadlines.

5. Accountability Measures:

Define how progress will be tracked and evaluated throughout the coaching process, including regular check-ins, progress reviews, and assessments.

6. Coaching tools:

Identify the coaching tools and resources that might help make the coaching engagement more effective.

Coaching Plan FAQs

How do you structure a coaching package.

Clarifying your target audience’s goals and needs, then design a package with specific tools to meet them. Define a set number of sessions you’ll have with the client and their duration and frequency.

Define the client’s responsibilities, such as check-ins or completing a course chapter. Enlist the coaching tools and exercises you want to include in your coaching process.

As you can see, designing a coaching program or package is similar to writing a coaching plan. However, a package is designed for a particular target audience and defines the plan for the coaching process before the client is hired instead of customizing it for them.

What Makes a Good Coaching Session Plan?

A good coaching session plan starts with a clear agenda. It outlines the topics to be discussed in the session and its desired outcomes. Typically, coaching sessions may involve:

• Checking in on action steps the client committed to previously,
• Aligning on the focus of the session,
• Leading the client through specific coaching questions and frameworks,
• Summarizing the insights from the session, and
• Defining the next steps the client should take until the next session.

Make sure you adapt to your client’s needs and pace as you go along with your session, and allocate time for the most crucial topics.

What Are the 7 Steps of Coaching?

The seven steps of coaching are typically defined as:

• Building rapport with the client.
• Clarifying their goals and objectives.
• Exploring their current reality and challenges.
• Discussing strategies for overcoming obstacles.
• Exploring any patterns or limiting beliefs.
• Developing action plans to move forward.
• Providing accountability and feedback to help the client stay on track.

These steps aren’t set in stone; they are simply the most common elements you may apply to make your coaching effective.

Build a Thriving Coaching Practice

A coaching plan helps maximize the results of the coaching engagement. Creating lasting change in your clients’ lives will ultimately make you successful in the field—but only if your business doesn’t distract you from it.

To streamline the admin side of your coaching business, we recommend Paperbell .

It’s an all-in-one client management tool specifically designed for coaches by coaches. It handles your contracts, schedule, payments, landing pages, and more.

Try Paperbell for free with your first client.

Further Reading

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Find out in this free report.

Ever wondered exactly what other coaches are offering, and ​for how much? Find out if you’re charging too much or too ​little by benchmarking your own rates with this free report.

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• HCM Data Loading Business Objects

Examples of Loading Goal Plans

This topic provides examples showing how to load Goal Plan objects using HCM Data Loader.

Creating a Goal Plan

This example GoalPlan.dat file loads a goal plan without a Mass Request component. In this case, a mass request record for the goal plan is created automatically using the values passed for the ReqSubmittedByPersonNumber and RequestSubmissionDate attributes.

Creating a Goal Plan with Document Types

This example GoalPlan.dat file creates a goal plan with the IncludeInPerfdocFlag attribute set to Y and assigns a document type. In this example, the GoalPlanExternalId attribute in the GoalPlanDocTypes component identifies the goal plan the performance document type is for.

Creating a Goal Plan with Mass Request Component

Use the MassRequest discriminator to load goal plan mass request records using HCM Data Loader. The Mass Request component holds attributes of the mass request object associated with the goal plan. It's referenced by sub-components that collectively define the employee population or organization to assign the goal plan to.

This example GoalPlan.dat file first loads a goal plan. The GoalPlanExternalId attribute in the MassRequest component that's later included in the file identifies the goal plan the mass request is for.

The Mass Request Assignment component holds information about an organization to associate the goal plan with. Use the MassRequestAssignment discriminator to load mass request assignment records for a mass request within a goal plan using HCM Data Loader.

This example GoalPlan.dat file creates a goal plan with a mass request assignment for the mass request.

This example GoalPlan.dat file creates a mass request assignment for a goal plan and mass request that already exist. This file uses the user keys attributes to identify the existing goal plan and organization, but you can also use source keys instead.

Creating a Goal Plan with Eligibility Criteria

Use the discriminator EligibilityProfileObject to load eligibility profile records for a goal plan using HCM Data Loader. The Eligibility Profile Object component includes a reference to an eligibility profile object that defines selection criteria for employees to assign the goal plan to.

This example GoalPlan.dat file creates a goal plan with Mass Request and Eligibility Profile Object components. In the Eligibility Profile Object component, the GoalPlanExternalId attribute identifies the goal with which the eligibility profile is associated. In this example, the Goals_EligibilityProfile_Software Developer 4 eligibility profile is associated with the GP_001_04 goal plan. This eligibility profile is marked as required.

Creating a Goal Plan with Mass Request Hierarchy Component

The Mass Request Hierarchy component holds information about a manager hierarchy or specific employees included in the goal plan. Use the MassRequestHierarchy discriminator to load mass request hierarchy records for a goal plan using HCM Data Loader. You can specify any of these values for the CascadingLevel attribute:

0 : Only to the manager

1 : Employees who directly report to the manager

999999 : All employees reporting to the manager

2 : Manager and employees who directly report to the manager

1000000 : Manager and all employees reporting to the manager

This example GoalPlan.dat file loads a goal plan with a hierarchy for the mass request. All employees in the hierarchy of the manager identified by the ManagerAssignmentNumber attribute in the Mass Request Hierarchy component are assigned the goal that's identified by the GoalPlanExternalId attribute .

This example GoalPlan.dat file creates a mass request hierarchy for a goal plan and mass request that already exist. This example uses the user key attribute to identify the goal plan and manager assignment. You can also use source keys to identify these records.

Creating a Mass Request Exemption Component

You can create a mass request for goal plan assignment but exempt certain employees from the assignment. You do this by using the Mass Request Exemption component, which specifies the employees who are exempted from the goal plan. This component can only be passed for MassRequestHierarchy records where the CascadingLevel isn't zero. For example, when the cascading level is Direct reports, All reports, Self and direct reports, or Self and all reports.

Use the MassRequestExemption discriminator to load mass request exemption records for a goal plan using HCM Data Loader. This example GoalPlan.dat file creates a goal plan with a mass request exemption for the hierarchy.

This file creates a mass request exemption for an existing goal plan and mass request hierarchy.

The source key for mass request hierarchy MassRequestHierarchyId(SourceSystemId) identifies the mass request hierarchy. The GoalPlanExternalId attribute identifies the goal plan.

Related Topics

• Guidelines for Loading Goal Plans

I was put on a performance improvement plan. Surviving a PIP not only let me keep my job but made me a better employee.

• I thought my career as a teacher was over when I was put on an Performance Improvement Plan.
• Receiving support and constructive feedback made me a better teacher.
• I kept my job and got off of the PIP but eventually left teaching behind. 

After completing my first year of teaching 8th-grade English at a private school , I was happy to have survived. Teaching is hard; teaching 105 adolescents is even harder.

Not only are they navigating puberty and the emotional whiplash that comes with it, but they are working with an undeveloped prefrontal cortex, the decision-making part of the brain. They are also distracted by social media , screen time, and seeking the approval of their friends, which makes it more difficult to get and hold their attention long enough to complete an entire unit. But I managed to do it — one lesson at a time — over the course of a very long year. I was proud of myself.

The self-congratulatory buzz didn't last long, though. When I met with the school's principal for my year-end review, I was presented with a Performance Improvement Plan (PIP) . I assumed it was code for you should just quit .

While I had worked as a teacher's assistant and part-time writing instructor for a few years, this was my first time managing a homeroom and instructing on my own. As I looked over the language of the plan — difficulty with classroom management, needs to establish clear classroom procedures, all students are not engaged in the lesson — I forgot about the lessons that went well, the books the students enjoyed, the tests that demonstrated a true understanding of the material.

Was I a horrible teacher?

The principal assured me that the point of the PIP was to improve my performance

Reluctantly, I agreed to the PIP — not necessarily because I thought all the statements were a true assessment of my ability, but because I knew some areas could use improvement. I wanted to show the school's administration what I was capable of.

Related stories

In the summer between my first and second year of teaching, I took a few professional development courses, wrote detailed lesson plans, carefully curated a selection of books for outside reading, and mapped out a variety of seating charts.

When I returned that fall, I met the new assistant principal, Mr. White, who would serve as head of discipline — as well as my advisor. He'd make sure I was following my PIP. We set up goals based on the areas that needed the most improvement, which was predominantly classroom management.

Once a week for a few months, I would observe other teachers for one class period. Together, Mr. White and I came up with classroom routines that I began implementing immediately. I remember nervously standing at the front of the classroom and reading aloud the procedures for homeroom. I heard Mr. White's voice in my head amid the groans of students who couldn't believe they had to stay seated until the bell rang.

"By setting clear expectations and consequences, you will create an atmosphere where everyone will feel respected," the voice said. "You will have command of the classroom."

We reviewed my lesson plans and day-to-day procedures. We met weekly. Occasionally, I would find him in the back of my classroom. I'd be reviewing a grammar lesson on parts of speech, and I would look up to see him glancing at the papers on the students' desks or watching the slideshow I was nervously clicking through. There was never a thumbs up, a smile, or a you're-doing-a-good-job nod in my direction. Mr. White had the ultimate poker face.

So, my jaw nearly dropped to the carpeted floor of his office on the day he told me I passed and survived my PIP with flying colors. Beyond just meeting the goals laid out before me, I exceeded them. I had, he told me, become a masterful teacher.

The PIP helped improve my abilities as an employee

What ultimately helped me to improve as a teacher was receiving constructive feedback and meeting specific, achievable goals with the support of the assistant principal. I did become a more effective teacher.

I showed myself what I could do — in and out of the classroom. That was truly the greatest gift of all.

I went on to teach for a few more years before realizing that teaching wasn't for me, but the skills and confidence I gained in that classroom have helped me immensely in other professions.

Watch: How Navy boot camp instructors are trained

• Main content