What do you do specifically for your end of the year and to kick off expectations and goal setting for the new year ahead?
Let’s look at Goal Setting first. What are your overall goals for your company? Are they being achieved? Maybe they are…and maybe they’re not. If your financial goals are not being met, might I suggest you check out Mike Michalowicz’s book Profit First. Mike’s approach I find is more like Dave Ramsey’s Financial Peace University, but more designed for entrepreneurs with fluctuating incomes.
Maybe your goals are not financial based but more processed base. Most people need support and possibly a coach to achieve these kinds of goals. My friend Matt Radicelli from Rock The House in Cleveland is probably one of the best mentors I know to help you with this. Reach out to him and tell him I sent you. 🙂
Now let’s examine the 3 R’s. The first of those is Results.
What were the results of your efforts for the last year? Do you have a report card on your team and the events they perform? Our staff fills out a report card (event feedback form) on every event they do. This helps me stay abreast of what’s going on out on the road each and every weekend and also allows me to get feedback on our team members from each other come review time at the end of the year. Maybe you’re not a multi-talent company, maybe you’re a single-op. What are the reviews from your client’s saying about you? That’s your own report card and it reflects upon your entire business and public image.
The next R is, you guessed it…Reviews.
Our staff goes through their own personal review at the end of the year to determine raises and their growth potential in our company as well. They are rated on things such as Image, Reliability, Troubleshooting, Logistics, Office Interaction and much more. Their scores are numeric and if they get over 70% on their performance review then they receive a raise for the following year. We then discuss specifically their Outline of Goals for the following year and then what their Next Steps are to achieve those goals. We come to a consensus at the end of the meeting of what they feel they need to work on and how they want to move forward with our company.
The final R is rewards. How are you going to reward your team for a job well done…and how are you going to reward yourself?
There has to be a light at the end of the tunnel…(and no that light, hopefully, isn’t an oncoming train). Employees want to be rewarded in ways, and every person’s personality is a little different. Money isn’t always the best motivator. Do your own research and find out what will truly have an impact on them. The point of the reward is to give one where and when it’s deserved and to provide a goal worth working towards.
What goals are you setting and how are you incorporating the 3 R’s into your business plans?