4 Considerations for Setting Business Goals for 2020

With the year drawing to a close, it’s time to start defining business goals for 2020. Setting goals can clarify the nature and direction of your team’s efforts, highlight potential obstacles, and help ensure the next year includes the growth and focus your organization requires to stay competitive.

Here’s how to set business goals for the coming year:

  1. Review the previous year.

Whether or not you set explicit business goals for 2019, review the organization’s performance during that year. What did your team understand that the goals were, and how well did it meet those goals? Where did your organization fall short of expectations, and why were those expectations in place?

Reviewing your performance offers two opportunities. First, it helps you find areas for improvement that can become the basis of your 2020 goals. Second, it helps you understand the criteria you use to judge progress or failure, which can become the foundation of future goals as well.

  1. Clarify your goals.

What are your firm’s goals for the coming year? For instance, do you want to expand your practice area reach, obtain new clients, or reduce operational budgets?

Use the context of the previous year to determine where your teams should focus in 2020. For instance, if adding five new clients in 2019 wasn’t enough to get your firm’s revenues or reputation to the level you want, consider setting a goal to add more than five new clients in 2020.

  1. Break down each goal.

Once you have goals in mind, start breaking down the steps and metrics for each goal. For example, if your goal is to land ten new clients in 2020, start looking at your most successful sources of new clients in the past. Consider how much you’ll need to budget to reach this goal and set a timeline.

At this stage, you’re looking at the concrete details for success on each business goal. Whenever possible, set quantitative measures of success, along with budgets and deadlines, so you’ll know whether you’ve achieved what you set out to do.

  1. Get your teams on board.

Once goals and methods are in place, talk to your team members. Make sure that each person understands their role in the overall goal. Check-in regularly to assess progress and ensure that team members have what they need to reach their goals.

In some cases, you may need help from sources outside the firm. For instance, reaching a goal to do more business in a particular practice area may require the help of a qualified temporary attorney. Don’t hesitate to reach out to staffing firms and other professionals who can help you reach your goals, even if the necessary skills aren’t part of your core team.

At Assigned Counsel, our recruiters once practiced law. The experience taught us what legal teams need from their team members, including the value of qualified temporary help. That’s why we’re here to help our clients rethink their legal staffing strategies. To learn more, contact us today.

 

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