Setting business goals with a proven growth framework
The start of a new year is a natural time for reflection. Businesses and individuals alike take stock of progress and set aspirations for the future. But waiting until year-end to evaluate goals is a missed opportunity.
A structured goal-setting framework allows your organisation to translate vision into action and maintain momentum throughout the year. Goal setting fuels growth in many forms, from increasing sales and improving customer service to launching new products or acquiring businesses. Whatever your ambition, clear and challenging goals make it achievable.
Place your vision at the core
Every great achievement begins with a clear vision. Your organisation’s vision should act as a 3-5 year roadmap, outlining where you want to be and how success will be measured.
Key elements include:
Tangible outcomes that align with your purpose
Strategic ‘big moves’ that drive long-term growth, typically over a 3-year horizon
Annual reviews to ensure these initiatives remain relevant
Big moves help answer crucial questions:
Where are we now?
Where do we want to be?
What major shifts are required to close the gap?
With this foundation, every effort in your organisation is aligned with your broader strategy.
Structuring your goal setting framework
To effectively execute your vision, organisations need to break it down into actionable chunks. Essentially, a successful goal setting framework should function as the scaffolding that supports progress at every level. Its main purpose is to drive performance and accelerate growth. Here’s how they work:
Company-wide objectives (Annual)
Company objectives define the organisational priorities for the year. These are high-level objectives that reflect growth goals, highlighted in the ‘big moves’, aka your businesses aspirational targets.
While the time frame is annual, progress is reviewed quarterly to ensure alignment and agility. For example, a company might set an objective to ‘Drive consistent and scalable growth in new customer acquisition” with key results tied to customer acquisition or retention rates.
Transformational objectives (Quarterly)
Transformational objectives bridge the gap between high-level strategy and day-to-day execution. These initiatives often span three months, with a bi-weekly cadence for progress reviews. Unlike company-wide objectives, transformational objectives focus on cross-divisional projects that require specialised expertise and collaboration.
For example, a transformational objective might aim to ‘Improve customer experience,’ with key results tied to system deployment, training, and feedback metrics. These objectives ensure that strategic priorities are chunked into manageable, actionable steps, creating a clear pathway toward the vision.
Local objectives (Quarterly)
At the team level, local objectives mirror the time frame and cadence of transformational objectives. However, they focus on specific local objectives that contribute to broader organisational goals. Teams take ownership of these, ensuring alignment with their unique areas of expertise.
This approach transforms strategies into actionable steps, directing resources where they create the greatest value, delivering greater impact for your business. There’s nothing more rewarding than seeing hard work pay off as the results you’ve been striving for begin to materialise.
Get started on setting your business goals
Now is the time to start, define your vision, set your objectives and take the big moves that will drive sustainable growth.
At There Be Giants, we help businesses implement growth frameworks, providing the expertise and resources needed to accelerate results and achieve real impact. Book a call with our experts to start translating your vision into measurable success today.
Frequently Asked Questions
Q1: Why is goal setting important for business growth?
Goal setting translates your vision into actionable steps, aligns teams, drives performance, and maintains momentum. Clear goals help businesses achieve objectives like increasing sales, improving customer service, or launching new initiatives.
Q2: What is a proven growth framework for setting business goals?
A proven growth framework uses OKRs (Objectives & Key Results) to break down high-level vision into company-wide objectives, transformational initiatives, and local team objectives. This ensures measurable outcomes and accountability.
Q3: What are ‘big moves’ in a business growth strategy?
‘Big moves’ are strategic initiatives that drive long-term growth, usually over a 3-year horizon. They answer key questions: where you are now, where you want to be, and what major shifts are required to close the gap.
Q4: How often should businesses review goals?
Company-wide objectives are reviewed quarterly, transformational objectives every two weeks, and local objectives quarterly. Regular reviews ensure alignment, agility, and timely adjustments.
Q5: How can teams stay aligned with organisational goals?
Teams stay aligned through transparent objectives, measurable key results, and structured communication. OKR software or regular check-ins help track progress and maintain accountability.
Q6: How can There Be Giants help implement a growth framework?
There Be Giants offers expertise in goal-setting and strategic execution. Their consultants guide businesses in implementing OKRs and growth frameworks, helping accelerate results and achieve measurable impact.