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

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:

Sully Tyler

  • 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. 

60 Example Business Objectives

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.

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Business growth

Business tips

Business objectives: How to set them (with 5 examples and a template)

An icon representing tasks in a list in a white square on a light orange background.

As anyone who played rec league sports in the '90s might remember, being on a team for some reason required you to sell knockoff candy bars to raise funds. Every season, my biggest customer was always me. Some kids went door-to-door, some set up outside local businesses, some sent boxes to their parents' jobs—I just used my allowance to buy a few for myself.

Aside from initiative, what my approach lacked was a plan, a goal, and accountability. A lot to ask of an unmotivated nine-year-old, I know, but 100% required for anyone who runs an actual business.

Business objectives help companies avoid my pitfalls by laying the groundwork for all the above so they can pursue achievable growth.

Table of contents:

The benefits of setting business objectives

How to set business objectives, examples of business objectives and goals, business objective template, tips for achieving business objectives.

Zapier is the leader in workflow automation—integrating with 6,000+ apps from partners like Google, Salesforce, and Microsoft. Use interfaces, data tables, and logic to build secure, automated systems for your business-critical workflows across your organization's technology stack. Learn more .

What are business objectives?

Business objectives are specific, written steps that guide company growth in measurable terms. A good business objective is concise, actionable, and assigned definite metrics for tracking progress and measuring success. Coming up with effective objectives requires a strong understanding of:

What you want the company to achieve

How you can measure success

Which players are involved in driving success

The timelines needed to plan, initiate, and implement steps

How you can improve or better support business processes , personnel, logistics, and management 

How, if successful, these actions can be integrated sustainably going forward

write business objectives

Business objectives vs. goals

Where a business objective is an actionable step taken to make improvements toward growth, a business goal is the specific high-level growth an objective helps a company reach. Business objectives are often used interchangeably with business goals, but an objective is in service of a goal. 

Here's what that breakdown could have looked like for nine-year-old me selling candy for my little league team: 

Business objective: I will increase my sales output by learning and implementing point-of-sale conversion frameworks. I'll measure success by comparing week-over-week sales growth to median sales across players on my baseball team.

Business goal: I will sell more candy bars than anyone on my team and earn the grand prize: a team party at Pizza Hut.

You might think it's good enough to continue working status quo toward your goals, but as the cliche goes, good enough usually isn't. Establishing and following defined, actionable steps through business objectives can:

Help establish clear roadmaps: You can translate your objectives into time-sensitive sequences to chart your path toward growth.

Set groundwork for culture: Clear objectives should reflect the culture you envision, and, in turn, they should help guide your team to foster it.

Influence talent acquisition: Once you know your objectives, you can use them to find the people with the specific skills and experiences needed to actualize them.

Encourage teamwork: People work together better when they know what they're working toward.

Promote sound leadership: Clear objectives give leaders opportunities to get the resources they need.

Establish accountability: By measuring progress, you can see where errors and inefficiencies come from.

Drive productivity: The endgame of an objective is to make individual team members and processes more effective.

Setting business objectives takes a thoughtful, top-to-bottom approach. At every level of your business—whether you're a massive candy corporation or one kid selling chocolate almond bars door-to-door—there are improvements to make, steps to take, and players with stakes (or in my case, bats) in the game.

Illustration of a clipboard listing the six steps to setting business objectives

1. Establish clear goals

You can't hit a home run without a fence, and you can't reach a goal without setting it. Before you start brainstorming your objectives, you need to know what your objectives will help you work toward.

Analytical tactics like a SWOT analysis and goal-setting frameworks like SMART can be extremely useful at this stage, as you'll need to be specific about what you want to achieve and honest about what is achievable. Here are a few example goals:

Increase total revenue by 25% over the next two years

Reduce production costs by 10% by the end of the year

Provide health insurance for employees by next fiscal year

Grow design department to 10+ employees this year

Reach 100k Instagram followers ahead of new product launch

Implement full rebrand before new partnership announcement

Once you have these goals in place, you can establish individual objectives that position your company to reach them.

2. Set a baseline

Like a field manager before a game, you've got to set your baselines. (Very niche pun, I know.) With a definite goal in mind, the only way to know your progress is to know where you're starting from. 

If you want to increase conversions on a specific link by X percent, look beyond current conversion percentage to the myriad factors going into it. Log the page traffic, clicks, ad performance, time on page, bounce rate, and other engagement metrics historically to this point. Your objectives will dig deeper into that one outcome to address deficiencies in the sales funnel , so every figure is important.

Analyzing your baselines could also help you recalibrate your goals. You may have decided abstractly that you want conversion rates to double in six months, but is that really possible? If your measurables show there's potentially a heavier lift involved than you expected, you can always roll back the goal performance or expand the timeline.

3. Involve players at all levels in the conversation

Too often, the most important people are left out of conversations about goals and objectives. The more levels of complexity and oversight, the more important it is to hear from everyone—yet the more likely it is that some will be excluded.

Let's say you want to reduce overhead by 5% over the next two years for your sporting goods manufacturing outfit. At a high level, your team finds you can reduce production costs by using cheaper materials for baseball gloves. A member of your sales team points out that the reduction in quality, which your brand is famous for, could lead to losses that offset those savings. Meanwhile, a factory representative points out that replacing outdated machines would be expensive initially but would increase efficiency, reduce defects, and cut maintenance costs, breaking even in four years.

By involving various teams at multiple levels, you find it's worth it to extend timelines from two to four years. Your overhead reduction may be lower than 5% by year two but should be much higher than that by year four based on these changes.

The takeaway from this pretty crude example is that it's helpful to make sure every team that touches anything related to your objective gets consulted. They should give valuable, practical input thanks to their boots- (or cleats-) on-the-ground experience.

4. Define measurable outcomes

An objective should be exactly that. Using KPIs (key performance indicators) to apply a level of objectivity to your action steps allows you to measure their progress and success over time and either adapt as you go along or stay the course.

How do you know if your specific objectives are leading to increased web traffic, or if that's just natural (or even incidental) growth? How do you know if your recruiting efforts lead to better candidates, or whether your employees are actually more satisfied? Here are a few examples of measurable outcomes to show proof:

Percentage change (15% overall increase in revenue)

Goal number (10,000 subscribers)

Success range (five to 10 new clients)

Clear change (new company name)

Executable action (weekly newsletter launch)

Your objectives should have specific, measurable outcomes. It's not enough to have a better product, be more efficient, or have more brand awareness . Your objective should be provable and grounded in data.

5. Outline a roadmap with a schedule

You've got your organizational goals defined, logged your baselines, sourced objectives from across your company, and know your metrics for defining success. Now it's time to set an actionable plan you can execute.

Your objectives roadmap should include all involved team members and departments and clear timelines for reaching milestones. Within your objectives, set action items with deadlines to stay on track, along with corresponding progress markers. For the objective of "increase lead conversion efficiency by 10%," that could look like:

May 15: Begin time logging 

June 1: Register team members for productivity seminar

June 15: Integrate Trello for managing processes

June 15: Audit time log

July 1: Implement lead automation

August 1: Audit time log—goal efficiency increase of 5%

6. Integrate successful changes

You've successfully achieved your objectives—great! But as Yogi Berra famously said, "It ain't over till it's over," and it ain't over yet. 

Don't let this win be a one-off accomplishment. Berra also said "You can observe a lot by just watching," and applying what you observed from this process will help you continue growing your company. Take what worked, and integrate it into your business processes for sustainable improvement. Then create new objectives, so you can continue the cycle.

Business objectives aren't collated plans or complicated flowcharts—they're short, impactful statements that are easy to memorize and communicate. There are four basic components every business objective should have: 

A growth-oriented intention (improve efficiency)

One or more actions (implement monthly training sessions)

A measurement for success (20% increase)

A timeline to reach success (by end of year)

For this year's summer swimwear line, we will increase sales by 15% over last year's line through customer relationship marketing. We will execute distinct email campaigns by segmenting last year's summer swimwear customers and this year's spring casualwear customers and offering season-long discount codes.

Our SaaS product's implementation team will grow to five during the next fiscal year. This will require us to submit a budget proposal by the end of the quarter and look into restructured growth tracks, new job posting templates, and revised role descriptions by the start of next fiscal year.

We will increase customer satisfaction for our mobile app product demonstrably by the end of the year by integrating a new AI chatbot feature. To measure the change in customer satisfaction, we will monitor ratings in the app store, specifically looking for decreases in rates of negative reviews by 5%-10%  as well as increases in overall positive reviews by 5%-10%.

Each of our water filtration systems will achieve NSF certification ahead of the launch of our rebranding campaign. Our product team will establish a checklist of changes necessary for meeting certification requirements and communicate timelines to the marketing team.

HR will implement bi-annual performance reviews starting next year. Review timelines will be built into scheduling software, and HR will automate email reminders to managers to communicate to their teams.

Business objectives can be as simple as one action or as complex as a multi-year roadmap—but they should be able to fall into a clear, actionable framework.

Mockup of a business objective statement worksheet

Calling your shot to the left centerfield wall and hitting a ball over that wall are two different things—the same goes for setting an objective and actualizing it.

Start with clear, attainable goals: Objectives should position your business to reach broader growth goals, so start by establishing those.

Align decisions with objectives: Once you set objectives, they should inform other decisions. Decision-makers should think about how changes they make along the way affect their objectives' timelines and execution.

Stick to the schedule or adjust it: Schedules should propel change, not rush it. Work toward meeting milestones and deadlines, but understand that they can always be moved if complications or new priorities arise. Remember, it's ok to fall short on goals .

Listen to team members at all levels: Those most affected by organizational changes can be the ones with the least say in the matter. Great ideas and insights can come from any level—even if they're only tangentially related to an outcome.

Implement automation: Automation keeps systems running smoothly—business objectives are no exception. Make a plan to bring no-code automation into workflows with Zapier to move your work forward, faster.

What makes business objectives so useful is that they can help you build a plan with defined steps to reach obtainable growth goals. As (one more time) Yogi Berra also once said, "You've got to be very careful if you don't know where you are going, because you might not get there." 

As you outline your objectives, here are some guides that can help you find KPIs and improvement opportunities:

How to conduct your own market research survey

6 customer satisfaction metrics to start measuring

Streamline work across departments with automation

Measuring SaaS success: 5 essential product-led growth metrics to track

12 value proposition templates—and how to write your own

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Bryce Emley picture

Bryce Emley

Currently based in Albuquerque, NM, Bryce Emley holds an MFA in Creative Writing from NC State and nearly a decade of writing and editing experience. His work has been published in magazines including The Atlantic, Boston Review, Salon, and Modern Farmer and has received a regional Emmy and awards from venues including Narrative, Wesleyan University, the Edward F. Albee Foundation, and the Pablo Neruda Prize. When he isn’t writing content, poetry, or creative nonfiction, he enjoys traveling, baking, playing music, reliving his barista days in his own kitchen, camping, and being bad at carpentry.

  • Small business
  • Sales & business development

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22 types of business objectives to measure success

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Clear business objectives help you achieve your mission statement and long-term company vision. These objectives can range from financial objectives to organization specific objectives. Take a look at 22 types of business objectives you can set—plus, learn when to use business objectives vs. 14 other goal frameworks. 

Whether you work at a small business, a start up, or as a team lead at a larger enterprise, as a key business owner, you’re responsible for identifying the business objectives that will help your organization hit its long-term goals. Setting goals and strategic objectives is the best way to know where you’re going and how to get there. 

In this article, learn about 22 different types of business objectives and how to make them achievable. Then, take a look at the 15 different types of goals you can set, depending on why you’re setting those goals.

What is a business objective? 

Business objectives are the results you are aiming to achieve in order to accomplish your longer-term company vision. Think of business objectives as metrics to measure your overall business success.

Hitting your business objectives means you’re on the path towards achieving larger company goals. As such, business objectives should focus on large-scale organizational impact. Good business objectives are measurable, specific, and time-bound. 

22 types of business objectives

Set business objectives based on factors that measure and impact your organization’s success. For example, you might set the following business objectives:

Financial business objectives

1. Profitability: A profitability-focused business objective is important if your company is relying on outside investors. Achieving—and maintaining—profitability ensures your long-term success so you can make progress towards your overall company mission. 

2. Revenue: Revenue-focused business objectives help you balance your income with your costs in order to stay in business. You might set business objectives to achieve a certain annual revenue goal, or to increase revenue by a certain percentage over a period of time. 

3. Costs: Costs refer to how much money you’re spending on your business. Reducing costs can help you increase revenue and achieve profitability. Business objectives related to cost can help you control production or operations cost to improve your business’s financial performance. 

4. Cash flow: Cash flow refers to the money moving into and out of your business. Cash flow can be positive—when you’re making more than you’re spending—or negative—when you’re spending more than you’re making. Similar to profitability, a cash flow-oriented business objective can help set you up for long term financial success. 

5. Sustainable growth: In order to grow as a business, you need to grow sustainably. Setting business objectives around sustainable growth can help you plan your financial projections, employee costs, and other financial considerations. 

Customer-centric business objectives

6. Competitive positioning: A big element of your business strategy is thinking about how your product or service compares to others in the same market. By setting a business objective focused on competitive positioning, you can ensure your product or service reaches parity with what’s expected in the market, or use competitive positioning to outdo your competitors in a key area. 

8. Customer satisfaction: In order to succeed as a business, you need happy customers. Focusing on a customer satisfaction-based business objective can help you better serve your customers. Depending on the business objective, this might focus on a customer advocacy program, a better help desk, or something similarly customer-facing. 

9. Brand awareness: Your brand is what makes your organization stand out from the crowd. Brand awareness is an important way to understand how your customers think of your brand, and how aware they are of your distinct brand vs. your competitors. Understanding—and increasing—brand awareness is a key part of your long-term marketing strategy .

10. Sales: You’ll often find business objectives related to improving or refining the sales cycle. This could include anything from reducing customer acquisition cost (CAC), developing better lead tracking, increasing cross-selling, or something else.

11. Churn: In business, your churn rate refers to how many customers you lose over a set period of time. Reducing churn is a great way to increase your revenue and ensure your customers are satisfied with the product or service you provide. 

Internal business objectives

12. Employee satisfaction and engagement: Part of your business is how your employees feel about working there, too. Increasing employee satisfaction and engagement leads to happier employees, reduced burnout , and more effective teams. 

13. Employee retention: A key internal business objective is how long your employees spend at your company. Increasing tenure and reducing turnover can help you achieve more complex projects with knowledgeable employees. 

14. Company growth: In order to grow your business, you also need to grow the number of people you employ. Growing your company sustainably can be difficult—which is why businesses often set company growth as a key business objective. 

15. Organizational culture: Organizational culture is the ideals, values, and group norms that shape how team members interact within your company. Good culture drives employee engagement and increases retention, which is one of the key reasons so many companies set organizational culture-focused business objectives. 

16. Change management: Smoothly implement large-scale organizational change with change management . Though you typically won’t see organizations set this type of business objective year after year, it can be a helpful objective to set if you have large changes on the horizon. 

17. Productivity: At Asana, we don’t think of productivity as “doing the most you can,” but rather as a way to optimize your time and get your best work done. Increasing employee productivity can help your teams achieve their high-impact work more efficiently. 

18. Employee effectiveness: Teams don’t just need to be efficient—they also need to know the right things to work on. The best companies aim for efficiency and effectiveness—which is where an effectiveness-based business objective comes into play. To learn more, read our article about the difference between efficiency and effectiveness . 

19. Diversity and inclusion: A big part of a welcoming company culture is making sure your employees feel like they belong. Investing in diversity and inclusion programs can help your business be more welcoming to your current and potential employees. 

Regulation related business objectives

20. Quality control: Implementing quality control measures as a business objective can help you ensure your product or services are at the level you want them to be. This in turn leads to better customer relationships and overall increase in revenue. 

21. Compliance: If your business has any compliance needs to meet in the near future, setting those compliance requirements as a business objective will ensure you hit your targets on time. 

22. Sustainability or waste reduction: Some businesses set business objectives to reduce waste or increase sustainability. While this may not directly impact your business, proving that you’re environmentally minded can help you reach specific audiences you’re targeting. 

Which goal framework is right for you?

Figuring out exactly what type of goal you need to set can be tricky. Each goal framework is slightly different—and implementing the right one can help you achieve success. 

The type of goal you set will depend on the business activities you’re running and the specific goals you have. If your goals have a set time frame, you may want to go with short-term objectives, whereas larger goals have their own unique frameworks. 

If you’re not sure where to start, check out these 15 goal frameworks for different situations: 

1. Business objectives: Set goals based on operating factors that impact your company’s long-term success.

2. Business plan : Also called a business strategy plan. Document your business’ goals and plan out how you’ll get there.

3. Vision statement : Set an organization-wide North Star.

4. Big Hairy Audacious Goals (BHAGs) : Set organization-sized stretch goals .

5. Company values : Align your team around core principles. 

6. Strategic plan : Clarify your three to five year company goals during the strategic planning process. 

7. Strategic goal : Set the goals you want to achieve by the end of your strategic plan.

8. Critical success factors : Clarify the high-level goals you need to achieve in order to achieve your strategic goals. 

9. Strategic management : Execute against your strategic plan in order to achieve your company goals. 

10. Business goals : Set predetermined targets to achieve in a set period of time.  

11. Objectives and key results (OKRs) : Set and communicate annual company goals.

12. Key performance indicators (KPIs) : Set quantitative goals.

13. Project objectives : Share what you want to achieve by the end of a project.

14. Project deliverables : Identify a project’s output.

15. Project milestones : Mark specific checkpoints along a project’s timeline.

More goal setting resources

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Setting Business Goals & Objectives: 4 Considerations

Professional writing and setting business goals using sticky notes

  • 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.”

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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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How to Write Business Objectives in a Project

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At some level, every business has goals and business objectives; even if they haven’t been spelled out, they are somewhere in the back of someone’s mind. Successful organizations often have clearly defined and consistent goal-and-objective setting processes that are a regular part of their operations.

Business skills are important for project managers. Organizations that don’t have an established goal-setting process often find themselves lurching from project to project with no clear direction, taking what the market offers and always facing a certain frustration that their business isn’t moving in a way that they want it to.

This difference has always existed. But our business metabolism is more rapid, causing change to come more rapidly. And the competition for attention and sales is more difficult. This makes setting better goals and objectives an imperative.

These goals and objectives can’t be pie-in-the-sky wishful thinking either. To be successful, our objectives have to be tied to our long-term strategy with an emphasis on short-term results. Most importantly these objectives are built around creating real value for our customers.

For a lot of us that have struggled with goals and objectives, we know it is something we are supposed to do. But the path forward can often feel a little confusing. By asking the right questions and emphasizing the right things, you and your organization can create a goal setting environment that pushes you towards your goals.

Objectives Start with Value

Management consultant Peter Drucker said, “The only goal of a business is to create a customer.” You do that by creating value that your prospects are willing to pay for. For many organizations in the modern economy, defining their value has become incredibly difficult as new business models attack our business models, pressuring our pricing, and challenging us to figure out what we do well. This ends up causing us to leave our businesses open to the whims and fancy of a market that is fickle and wants everything for free or less.

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Everything starts with value.

Here’s a question to ask to help figure out what value means to you: “How do we change the organizations we work with?” This question is simple and can be powerful. It also tends to create a lot of angst. Because dealing with value directly has become uncomfortable for many. Simply, the question forces a choice about the direction of your enterprise.

In a nutshell, that’s the question at the center of setting goals and objectives. What is the value we want to deliver? How do we want our business to grow? This simple but complex question has many layers because we don’t exist in a one-dimensional world, there are layers that we need to think about when we think about value. As you think about the value you are trying to build upon and deliver, and how to state it in a way that allows you to organize your thinking, you want to consider how this value impacts the human, the economic and the society or community that you exist in.

You need to think about value not only as something to be delivered to your customers but as a holistic part of your business and make decisions about how you will deliver upon each of these in your own way. To clarify what this will look like, think about a startup: they are going to have goals that are likely to include speed to market, and those kinds of goals will mean that some of the human aspects of your projects will impact certain potential team members differently than others. This means that if you are a startup with a lot of people with families, you are likely to have to scale back on something or build a different team.

The same situation applies if you happen to be involved with a large-scale government project. In this situation, the economic issues are likely to be much different because you are going to be dealing with a lot of money and, more importantly, a lot of taxpayer money. These situations will make your economic and societal concerns more pressing because the watchdogs and reporting requirements are l different than in the startup.

In both circumstances, you start with value. But the path that you take to get there is going to change depending on the nature of the project. This is all about making decisions and choices. Because there aren’t any one-size-fits-all projects that exist in today’s business environment. How do you begin to uncover value? By asking the questions. They will differ depending on your organization, but here are a few to get you started:

  • Where have we been successful in the past?
  • What do we do that none of our competitors do?
  • Why do people pick us over other similar businesses?
  • If we didn’t exist, what would our clients miss the most?

Understanding value is the basis and the jumping-off point for better business objectives. Next comes goals that are built off of this value.

Without Goals, You Can’t Set Objectives

You need to learn about business strategies . Value is the foundation of your business. You have to know where you are going in order to take the proper steps to get there. After value, you need good goals. Goals are simply a desired result that you want to achieve. In the context of setting better objectives, they are essential because without clear goals you will be unable to set better objectives.

I’ll explain it like this. Goals tell the story of where you are going. Objectives are steps you take to get there. So you need to make your goals clear, measurable, and relevant. There are many ways to set goals. We’ve probably all heard about SMART goals , which are specific, measurable, achievable, results-focused, and time bound. You could do worse than that to set your goals. The model I often us goes by the acronym ACES. As it applies to you, ACES will look like this:

  • Achieve: What do you want to do?
  • Conserve: What do you need to hang onto?
  • Eliminate: What can you get rid of?
  • Steer Clear: What do you want to avoid?

The big key here is to make sure that you take your value and create goals that are in line with that value. Maybe you want to grow your business in a specific vertical. Knowing this, you can set specific goals about where you want to see the business in a quarter or a year. It is these specific goals that a tool like ACES allows you to set that enable objectives to be a weapon to drive your business forward.

Objectives Are The Actions

If you’ve followed along so far, you realize that we are trying to get you to a point where you are setting better business objectives. Not just so you are more efficient at setting goals and objectives or aligning your project to business strategy , but so you are in a position to take better action and be more effective as an organization.

Another way of putting it, we don’t want to just do stuff, we want to do the right stuff.

Think of this as training for a marathon. Value is the idea that you want to run the thing. Goals are the race you want to run. Objectives are the plan you put in place to make sure you get to your goal, like a training plan for your business.

To set the best objectives possible, you need to take these steps:

  • Make sure every action is consistent with your value and your goals. You don’t want to get sidetracked by a bunch of busywork that doesn’t get you closer to your goals.
  • Build a schedule. Schedules are powerful because they give you a sense of urgency. You don’t want to get into a situation where nothing has urgency or where your entire team is waiting for one piece of the project to be completed.
  • Map out as many actions as possible. I like to think of the planning and implementation process as a learning experience. You are highly unlikely to be able to imagine and account for everything at the start, but you don’t want to allow that to keep you from doing anything at all. So, map out as many of the steps as you can think of and create a schedule to revisit your action plan so that you can update it based off the information you’ve learned throughout the implementation stages. (Try our free action plan template for help)
  • The idea of setting better business objectives needs to be tied tightly to your organization’s willingness to act . The great thing about setting better objectives is that when you do act, you should be taking actions that are in alignment with where you want to see your organization moving.

Setting business objectives is about setting the stage for taking more effective action. This is a process that should be at the top of your mind for you at every step of the process because many businesses take action, but the real winners take the right actions.

A project is about fulfilling business objectives. It’s about action. But without a tool to control that action, it can get out of hand quickly. ProjectManager is a cloud-based software that has all the features you need to plan, monitor and report on your project in real-time. See how it can help you meet those business objectives by taking this free 30-day trial.

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Business objective

Business objectives are the specific and measurable results companies hope to maintain as their organization grows. Entrepreneurs and business leaders must track performance in every part of their business to make sure they’re moving in the right direction .

Business objectives act as a compass for the company, dictating how the organization should allocate strengths, weaknesses and opportunities that may be available. Most of the time, objectives remain the same until the company’s circumstances change.

Examples of a Business Objective

While business goals describe where the company wants to end up, objectives dictate the directions for getting there. Businesses that don’t identify long-term goals and KPIs don’t develop as quickly as their competitors.

Examples of popular business objectives include:

  • Revenue objectives: Maintaining consistent profitability is essential for any business. Companies cannot be profitable without consistent profit. Measuring revenue is a great way to track the sustainability of a firm.
  • Operational objectives: Operational objectives include making sure that the logistical elements of your business are up to scratch. For instance, it might mean ensuring your supplies will arrive from a manufacturer at the same time each month. These objectives keep the company running smoothly.
  • Productivity and performance: Employees are the lifeblood of a business. Making sure that employees remain productive drives revenue and improves customer satisfaction. Measuring employee satisfaction and setting goals for each team ensures efficiency and productivity.
  • Customer satisfaction: The customer is always a top priority in any business. Some organizations regularly survey their clients to ensure that they’re making the right impression and driving loyalty.
  • Growth: Companies measure growth over the long-term and short-term. Growth appears in the form of website traffic, social media followers, turnover and product sales and much more.

Connecting Business Objectives and Social Media

Often, organizations rely on tools to help them set and track their business goals.

Many modern business goals align with social media. After all, social media channels provide a lot of useful data for companies about traffic, engagement and more.

For instance, if a firm wanted to measure growth by tracking brand awareness, they could use a tool like Sprout Social , combined with their social media channel, to look at metrics like:

  • Follower count: How many people are interested in and actively following the company
  • Mentions, shares, retweets: How many people are engaging with the brand, or talking about the company?
  • Social reach: How many customers could you potentially reach on each channel?

With the right tools, it’s easy to align social media KPIs with business objectives.

How to Create Effective Business Objectives

The best way to determine business objectives for any brand is to use the SMART goal setting strategy. Objectives must be:

  • Specific: Include details that outline the preferred outcome of the objective and who will be responsible for maintaining these results.
  • Measurable: Include a schedule of regular reporting to let everyone know where they stand in achieving their objectives.
  • Attainable: While goals should be lofty, employees must believe they’re achievable. Make sure targets aren’t too ambitious.
  • Relevant: Each objective must align with specific goals for the company.
  • Timely: Objectives need to follow a specific schedule. For instance, sales teams may have a particular sales figure to achieve each month.

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Business Objectives: 10 Important Business Objectives Start-Ups Should Know

Debashis Konger

  • May 9, 2022

When starting a new business, it’s essential to set goals. But how do you know whether you’ve achieved your objectives?

To achieve success, you must first define what success looks like. It will help you determine whether you’re achieving your goals.

This article will share 10 common business objectives that every startup should strive to achieve. I’ll also explain why these are important and how you can measure them.

Table of Contents

What is a business objective?

Business objectives are defined as goals that businesses set out to achieve. They are usually written down and shared with employees; in other words, a business objective is an action plan that describes what needs to happen to reach a goal.

For example, a company may want to sell more products than last year. It would be a business objective. It would include things such as increasing sales by 10 percent every month.

It means that each employee has a job to do to help the company achieve its goal. An employee may be responsible for selling one product. Another employee may be responsible for another product.

In this case, the first employee would be responsible for increasing sales by 10% per month. The second employee would then be responsible for increasing sales in their area. These two employees would work together to achieve the overall goal.

When setting up a business objective, it is important to define the following:

• What does the business want to accomplish?

• How much money will it generate?

• Who will benefit from achieving the goal?

• Why should anyone care about the goal?

• What resources will be required to achieve the goal?

• How will the goal be measured?

• What steps must be taken to achieve the goal? These steps could include hiring additional staff, training existing staff, etc.

Once these questions have been answered, the next step is to write them down.

It helps everyone involved understand their role in achieving the goal. It also makes it easier to measure progress towards the goal.

Types of business objectives

business objectives

Financial Business Objectives:

Businesses are always trying to maximize profits, but sometimes they forget about other types of financial goals. For example, businesses might want to minimize costs, save money, or generate revenue. These are all examples of financial business objectives.

To achieve these goals, you can try different tactics. One tactic is to look into outsourcing services. Outsourcing allows companies to focus on running their business while letting someone else handle specific tasks.

Another option is to consider hiring freelancers to work on projects. Both options allow you to cut down on overhead expenses and free up resources for other areas of your company.

In addition to financial objectives, you can also set nonfinancial objectives. Nonfinancial objectives include customer satisfaction, brand awareness, and employee morale.

When setting nonfinancial goals, it’s important to remember that they aren’t as tangible as financial ones. However, they still play an integral role in your business.

For example, if you run a restaurant, you could set a goal of increasing sales. But the methods you use to reach that goal would differ.

It would be a financial objective, whereas improving customer service would be a nonfinancial objective. In both cases, you’d be working towards achieving the same thing—increasing sales.

The bottom line? Set your financial and non-financial business objectives, then figure out how to meet them.

Customer-centric Business Objectives

Businesses today must focus on customer satisfaction and engagement if they hope to succeed.

The best way to achieve this goal is through customer-centricity. Customer-centricity refers to the idea that businesses should always put customers first. It means that every decision made by a company should be based on whether it benefits its customers or not.

It doesn’t just apply to companies that sell products online; it applies to all types of businesses.

For example, a restaurant could choose to offer free meals to customers who spend over $10 per month. Or a hotel might give discounts to guests who book rooms for multiple nights.

These examples illustrate how customer-centricity can benefit both consumers and businesses.

When businesses act in a customer-centered manner, they create loyal customers who are willing to recommend them to others. And these recommendations can lead to increased sales.

In addition to benefiting customers, customer-centricity has other benefits for businesses.

One is that it helps companies avoid lawsuits. Another is that it allows them to attract talented employees. Finally, it can help companies build strong relationships with their clients.

Internal Business Objectives

Businesses have different types of goals depending on their industry and size. Some businesses focus primarily on making money, while others aim to provide value to customers.

Regardless of the type of business you run, you should always strive to achieve internal business objectives.

Internal business objectives include increasing revenue, reducing costs, improving customer service, and developing employees.

These are all fundamental aspects of running a successful company, and if you aren’t focused on these areas, you might be missing out on opportunities to grow your business.

To help you reach your internal business objectives, consider implementing a strategy that focuses on three main areas: sales, operations, and marketing. Each area has its own set of metrics that you can track to determine whether or not you’re meeting your goals.

For example, you could measure sales performance by tracking the number of leads generated each month, revenue earned from each sale, and the total profit generated.

Operations can be measured by tracking inventory levels, employee productivity, and other factors.

Marketing can be measured by tracking the number of visitors to your website, the number of emails sent, and the number of phone calls received.

By focusing on these three areas, you can easily monitor your progress towards achieving your internal business objectives.

Regulation Related Business Objectives

Businesses must comply with various regulations, including health and safety laws, environmental protection laws, and employment laws.

These laws can affect your company in many ways, from ensuring employees receive proper training to ensuring that products meet specific standards.

It’s important to understand these laws and regulations to avoid penalties and fines. It’s also essential to know what types of businesses fall under each law.

For example, companies that manufacture food products must follow strict guidelines regarding food safety. Companies that sell alcohol must adhere to specific rules regarding age verification and advertising restrictions.

There are several different types of regulation-related business objectives, including:

• Food Safety Regulations – These include requirements related to sanitation, labeling, and other aspects of food production.

• Environmental Protection Laws – These include regulations regarding water quality, air pollution, hazardous materials, and other issues.

• Employment Law – These include requirements related to employee benefits, wage and hour laws, and other topics.

• Health Care Reform – These include requirements related to healthcare insurance, medical records, and other topics.

List of Business Objectives You Should Know

business objectives

Getting and Staying Profitable

One of the most important aspects of running a business is making sure that you’re profitable. It’s easy to become distracted from this goal if you aren’t careful, but it’s also essential to your long-term success.

To remain profitable, you need to focus on three main areas: increasing sales, reducing costs, and improving efficiency. These business goals can be achieved through effective planning and execution and help with financial growth.

Planning involves thinking about where you want to go and what you want to achieve. For example, if you’re going to increase sales, you might choose to create a business plan for creating a new product line or launching a new service. Once you’ve decided on these objectives, you need to break each into smaller tasks.

Execution means following through on your plans. When you set goals, it’s important to remember that you can’t always control everything that happens during the day. However, you can still manage your expectations and adjust accordingly.

For instance, if you’re having trouble selling a specific type of product , try offering discounts instead. Or, if you’re struggling to reduce costs, consider outsourcing some work. Either way, you’ll be able to adapt to changing circumstances and continue moving forward.

Productivity of People and Resources

It’s no secret that productivity is key to success. Whether you work for yourself or someone else, being productive is essential to achieving your goals.

When you’re working hard to achieve your business objectives, it’s easy to forget your personal needs. It’s important to remember that you can’t always expect others to pick up where you left off.

It means that you need to set aside time to focus on your health and well-being. Ensure that you’re taking care of yourself by eating healthy foods, exercising regularly, and sleeping enough. These habits will allow you to be more productive and focused during the day.

In addition, try to avoid multitasking. While it might seem like a quick fix, it actually takes a toll on your energy levels and concentration. Instead, focus on accomplishing one task at a time.

Once you finish that task, move on to the next one. Don’t worry if you miss a few tasks along the way; just make sure that you complete them eventually.

Excellent Customer Service

Customer service is one of the most important aspects of running a business. It’s no secret that customers expect excellent customer service from businesses, and if they don’t receive it, they’ll likely move on to another company or slash you with negative ratings.

To provide excellent customer service, you need to focus on building relationships with your clients.

Ensure that you respond to emails and phone calls promptly and always follow through on promises.

When someone has a problem with your products or services, try to resolve it as soon as possible. Remember, when customer ratings are high you’ll always have a huge inflow of new customers.

It’s also helpful to offer incentives to your clients. For example, you could give discounts or free shipping to loyal customers who refer others to your business.

The key objective here is to make sure that these offers aren’t too difficult to redeem. Otherwise, they might turn off potential customers and lead them to give you negative ratings.

business objectives

Employee Attraction and Retention

Employee retention is crucial to business success. But what exactly does it entail? It’s much more than just keeping employees happy. Employee attraction and retention mean attracting and retaining the best talent possible.

To attract top talent, you need to offer competitive pay, flexible hours, and opportunities for advancement. You also have to have recruitment processes where you’re always scouting for new talents.

During the recruitment processes, you also need to look out for the soft skills that the employees exhibit. In order to properly assess them.

When it comes to retaining employees, you need to provide benefits, training, and development programs. These factors can help to create a work environment where employees feel valued and appreciated i.e employee satisfaction.

One of the most effective ways to retain employees is through employee recognition. Employee recognition doesn’t necessarily require money; it can simply be a thank you for a job well done.

For example, if someone has completed a project on time and under budget, give them a small gift card or certificate. Or, if someone has gone above and beyond, consider giving them a promotion or raise.

In addition to recognizing employees, it’s important to acknowledge customers. Whether you run a restaurant, sell products online, or operate a brick-and-mortar store, customer service is key to building loyalty.

Ensure that your staff members are friendly, helpful, and courteous to every customer who walks through your doors.

Remember, employee attraction and retention are only half the battle. The other part is making sure that your team is productive and efficient. To achieve these goals, you must have clear objectives and set measurable goals with the motivation of employees a vital need in the mix.

Mission-driven Core Values

Core values are an essential part of every business. Without them, you’d have no reason to exist.

Your core values are the foundation of everything that you do. They define who you are and what you stand for. They guide your decisions and actions and dictate how you interact with others.

It’s easy to lose sight of these values over time, primarily if you work in a fast-paced environment where priorities change frequently.

But having clear, consistent core values helps you maintain focus and avoid distractions. It also gives you a framework for making decisions and setting goals. 

The core values not only empower you but also empowers the employee performance and their individual objectives in your company. 

To create your own set of core values, ask yourself questions like: What do I believe in? Why am I doing this? How does this affect other people?

Once you’ve answered these questions, write down your answers. Then review them periodically to make sure that they still reflect who you are and what matters most to you.

Sustainable Growth

In today’s world, businesses must constantly adapt to changing market conditions. To survive and thrive, companies need to develop a strategy that allows them to grow sustainably over time. You have to set long-term goals in order to grow sustainably.

One of the most important aspects of sustainable growth is having a clear vision of where you want to end. It’s easy to lose sight of your goals if you aren’t regularly reviewing them.

For example, if you set a goal of increasing sales by 10% each quarter, you might miss your mark if you fail to adjust your plan accordingly.

It’s also important to consider whether your current business model is sustainable. Are you growing too fast, or does your company have room to expand without causing damage to its infrastructure? If you’re unsure, it’s best to consult with experts who can provide objective feedback.

Once you’ve determined your goals, it’s time to figure out how to achieve them. Start by identifying the key performance indicators (KPIs) that will allow you to measure progress toward your goals.

KPIs are metrics that indicate how close you are to reaching your objectives. This in turn helps your company growth.

For example, if you want to increase sales by 10%, you could look at the number of leads generated per month. Once you’ve figured out what KPI you wish to track, you’ll need to determine how to measure it.

There are many different ways to collect data, including surveys, interviews, and analytics software.

KPIs are measurable objectives and once you know how to measure your KPIs, you’ll need to decide how to interpret the information.

Do you want to compare your KPIs against industry averages? Or would you instead focus on reaching your KPIs to those from previous quarters?

The final step is to create a plan for achieving your goals. Make sure that your plan includes realistic deadlines and milestones. If you don’t meet your goals, you’ll need to revise your strategy and try again.

Maintaining a Healthy Cash Flow

One of the most important aspects of running a business is maintaining a healthy cash flow.

It’s easy to spend money without thinking about where it’s going, but if you want to avoid financial problems down the road, it’s important to pay attention to your finances. It means keeping a keen eye on your operating costs, production costs, and more.

It’s especially important to monitor your expenses closely during the holiday season. Many businesses experience a spike in sales during the holidays, but that doesn’t necessarily mean they can afford to overspend.

Make sure that you budget appropriately so that you don’t end up having to cut back on other areas of your business.

In addition to monitoring your spending, it’s also essential to track your revenue. When you can accurately predict your income, you can plan accordingly.

For example, if you’re expecting a large influx of customers, you can prepare for the extra workload by hiring additional employees or increasing your inventory.

Keep these tips in mind as you work toward building a solid cash flow.

Dealing with Change

Change is inevitable. Whether it’s a change in business objectives, a change in technology, or a change in your company culture, change will always happen. And while it’s important to embrace change, it’s equally important to prepare yourself for it.

Changes occur over a period of time and whatever time frame you are in you need to set strategic objectives to allow your company growth to happen.

There are three ways to deal with change: accept it, adapt it, or resist it. The best strategy depends on the type of change you’re dealing with.

For example, if you’re changing your business objectives, accepting it is probably the best option. However, if you’re changing technology, adapting to it is likely the best choice.

Regardless of the type of change coming, it’s essential to understand that change is never easy. It requires planning and preparation, and it can be stressful.

But it’s also necessary, and you can learn from others who have gone through similar situations.

So, whether you’re preparing for a significant change or just trying to figure out how to handle a small change, we hope that these tips will help you.

Reaching the Right Customers

Your business objectives are probably pretty straightforward—you want to sell products and services, right? But if you’re just starting, it can be hard to figure out exactly who your ideal customers are. Here’s where you need a solid customer strategy.

It is where demographics come into play. Demographics are data about a person’s age, gender, income level, education level, marital status, occupation, etc.

The more specific you can be about your demographic profile, the easier it will be to reach the right customers.

For example, let’s say you’re selling dog food. You could write a blog post targeting pet owners, but if you’re not sure whether your target market includes dogs or cats, you might reach too many people who aren’t interested in your product.

Instead, you could narrow down your focus by focusing on dog owners between the ages of 18 and 24.

It’s also helpful to consider your competition. What types of businesses are similar to yours? How much money do they generate? Where do they advertise? These questions can help you determine who your ideal customer is.

Next, think about your current customers. Who are they? Are they male or female? Do they tend to buy from certain stores? What kind of products do they purchase?

Once you know these details, you can create a strategy that targets your ideal customers. For example, if most of your customers are women over 40, you might decide to focus on advertising in magazines geared toward older women.

Don’t forget to include any special offers or discounts that you have available. It can be a great way to attract new customers and retain old ones. All-in-all including all of these in your customer strategy will help you land the best customers!

write business objectives

Staying Ahead of the Competition

Your business objectives are why you started your company in the first place. It’s important to understand these goals and how they relate to your customers.

For example, if your main objective is to sell products, you might focus on increasing sales. However, if your goal is to provide a service, you might focus more on customer satisfaction.

It’s also important to consider who your ideal customer is. Are they male or female? What age group does your perfect customer fall into? Do they have children? These questions can help you determine what type of messaging you should be sending to different groups of customers.

To reach the right customers, you need to know who they are and where they spend their time online. That’s why it’s important to track your visitors and analyze their behavior.

You can do this through analytics software, such as Google Analytics. Apart from that using the right business strategies can help you land the right customers.

Analytics software allows you to track visitor activity on your website, including where they came from, what pages they visited, and how long they spent on each page.

The data collected by analytics software helps you learn more about your customers and determine what types of messages work best for them.

Use this information to create targeted advertising campaigns that appeal to specific audiences.

For example, you could send emails to people who visited specific pages on your website. Or you could run ads on Facebook targeting people who visited your website.

SMART Goals

The SMART goals are the most common goals used in business. They are a simple, easy-to-understand, and used set of goals that can be used by anyone from any level of experience. 

If you’re not familiar with the SMART goals, here’s a quick overview:

Specific – A specific goal must have a clear purpose and scope so that everyone knows exactly what they are working towards.

Measurable – A measurable goal must have a method of measuring success.

Attainable – If a goal seems too difficult to accomplish, then it probably isn’t attainable.

Relevant – A relevant goal should align with your overall business strategy and vision.

Timebound – A time-bound goal needs to have a deadline. Otherwise, it won’t be effective.

Frequently Asked Questions:

How to create effective business objectives.

Your business objectives are your goals for yourself and your team. These goals are usually written down somewhere, whether on paper or digitally. However, if you're having trouble coming up with effective ones, here are a few tips to help you.

First, write down your top priorities. What are the most important things you need to accomplish over the next 12 months? Once you've figured these out, you can move on to the second part of creating practical business objectives.

Next, brainstorm ideas. Think about what you'd like to achieve, and then write down everything that comes to mind. Don't worry about making your ideas perfect—just jot them down and move on. Read through your notes and choose the best ideas when you're done. Now, you can organize them into categories based on what they relate to. For example, if you're trying to grow your company, you might create a "growth" category, while another could be labeled "marketing."

Finally, review your goals regularly. It's easy to lose sight of your goals when you're busy running your business, so it's important to revisit them from time to time. Reviewing your goals helps you stay focused and ensures that you're always moving towards your ultimate goal.

What’s the difference between accuracy and precision?

Accuracy refers to the degree to which a measurement reflects reality. Precision refers to the closeness of agreement among multiple sizes.

For example, if we measure a person's weight 10 times and each time the result is within 1 pound of the actual weight, we would say that our measurements were accurate. However, if we measured the same person 10 times and each result was off by 2 pounds, we would tell our measurements were precise.

How to build a strategic plan for your nonprofit?

Strategic planning is a crucial part of running a successful nonprofit organization. It helps you set goals, develops plans, and measure progress toward achieving them.

To create a strategic plan for your organization, you'll need to define your business objectives. These are the goals that you want to achieve through your work. For example, if you run a soup kitchen, your business objective might be to provide food for hungry families.

Next, you'll need to decide what resources you need to accomplish these goals. For instance, if you want to feed homeless families, you'll need money and volunteers. Once you know what you need to succeed, you can develop your strategy.

Your strategy is the roadmap that guides you toward accomplishing your business objectives. It includes specific tactics, timelines, and milestones to reach your goals. The best nonprofits follow a structured approach to strategic planning.

For example, you could break down your strategy into three phases. First, you'd establish your vision. Next, you'd outline your mission statement. Finally, you'd develop your values and ethics. Each phase has its purpose, building upon the previous ones.

In addition to setting clear goals, you'll also need to consider your budget. How much money do you have available? What kind of support do you have from donors? Will you need to raise funds yourself?

Once you've answered these questions, you can write your plan. Start with your vision, then move on to your mission and values statements. Then, add details about your strategies, timeline, and milestones.

You can present your plan to your board of directors and other stakeholders when you're ready. After you finish your plan, share it with others who can give feedback. Ask for their input and incorporate any changes that they suggest.

How to set and track stretch goals to inspire your team?

One of the most effective ways to motivate employees is by setting stretch goals. Stretch goals are specific targets that you set for yourself and your team members. When you reach these goals, you feel accomplished and motivated to continue working hard towards reaching higher levels of success.

Setting stretch goals is easy. Just create a goal that you'd love to achieve, then break down the steps necessary to get there. For example, if you want to write a book, you might say that you want to complete 500 pages. Then, you could break down each page into smaller chunks, such as 250 words per day.

Once you've reached your goal, celebrate your accomplishment by sharing it with others. It's always fun to share your accomplishments with friends and family, and doing so will boost your confidence and motivation. By creating a clear plan for achieving your goals, you'll be able to hold yourself accountable and give yourself a reason to work harder.

The Bottom Line:

In conclusion, if you’re looking to start your own business, here are ten important objectives you should have before you begin.

They include: 

Debashis Konger

Debashis Konger

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What Are Strategic Objectives? How To Write Them + Examples

Download our free Strategic Planning Template Download this template

Writing strategic objectives is part of the strategic planning process. It’s also the most fun and exciting part of it. It follows the creation of your strategy’s focus areas and breathes life into your vision and strategy.

The creation of your strategic plan includes various distinct steps and writing its strategic objectives is one of them.

Overview of strategic planning stages and where strategic objectives fit in:

  • How To Write A Strategic Plan: The Cascade Model
  • How to Write a Good Vision Statement
  • How To Create Company Values
  • Creating Strategic Focus Areas
  • How To Write Strategic Objectives (This article)
  • How To Write an Effective Project
  • How To Write KPIs

Free Template Download our free Strategic Planning Template Download this template

Each article in the list describes each part of the Cascade Strategy Model in-depth along with how they fit into the bigger picture.

In this article, we’ll take a deep dive into how to write and track strategic objectives. You’ll also get a checklist to test your objectives and a free strategic planning template so you can start tracking them straight away. 

The Cascade Model (1)

What Are Strategic Objectives?

Strategic objectives are high-level and measurable goals outlining what an organization wants to achieve , with a clearly defined deadline. They help organizations create strategic roadmaps , initiatives, and projects that are aligned with the company’s strategy and vision. 

In Cascade’s strategic planning model , strategic objectives populate your plan’s Focus Areas and are very specific. Each objective contributes to at least one strategic Focus Area and, once completed, is replaced by another.

All of them contribute to the progress toward your Focus Area and, ultimately, your company’s vision statement . In other words, objectives are something that can be tangibly achieved.

For each Focus Area, ask yourself iterations of:

  • “What do I have to achieve to accomplish [Focus Area]?”
  • “What does it look like to have accomplished [Focus Area]?”

By doing so, you'll be able to identify what needs to be done and set clearer objectives.

How To Write Strategic Objectives?

In terms of setting strategic objectives, you should only be concerned with two things:

  • How many strategic objectives should you have?
  • What’s the right way to structure them?

We answer both questions in this section.

how to write strategic objectives infographic

1. Find the optimal number of strategic objectives

Objective-setting is a prioritization exercise and there’s no magical number for everyone.

But there’s a way to find yours. It lies in the balance between two opposing forces: complacency and focus.

Choose too few objectives and you become complacent, not really challenging your organization to innovate.

Choose too many objectives and you lose your focus, scattering your resources all over the place. Larger organizations tend to be complacent. Smaller organizations tend to be unfocused.

💡Here is a rule of thumb: Choose between 3 and 6 strategic objectives per each of your Focus Areas .

Organize them in order of importance and focus your resources on them. If your Focus Area requires achieving simultaneously 2 or more objectives, then give them equal priority.

If you're not sure how to prioritize them, you can use a risk matrix that will help you evaluate the associated risk with each strategic initiative and allocate resources accordingly. 

2. Strategic objective formula: the right structure 

Keep things simple. 

Strategic objectives should be easy to remember and understandable by everyone within the organization. Keep the language simple and avoid jargon (if possible). Sum up what you want to achieve clearly and concisely.

Each strategic objective must have at least these three elements:

Action + Detail + Deadline

For example:

Create the standard for quality bikes by 31st of December 2024.

💡 Here’s a quick checklist to assess if you wrote a good strategic objective: 

  • Start off with a verb. This will force you to be specific about what you're trying to do. 
  • Add the details that make the strategic goal specific. 
  • Include a deadline to stay on track with progress.

Types of strategic objectives

First, let’s take a look at four different types of strategic objectives that you can consider. 

Growth strategic objectives

Growth objectives aim to expand the business and increase market share. They often involve expanding into new markets, developing new products or services, or increasing production capacity. 

For example, a growth objective could be to increase the company's presence in the European market by opening new retail locations in major cities across the continent by Q2 2024. 

Customer strategic objectives

Customer objectives focus on improving the customer experience and enhancing customer satisfaction. These objectives often involve improving customer service, increasing customer loyalty, and building long-term relationships with customers. 

An example of a customer objective could be to implement a customer feedback system and respond to all customer inquiries within 24 hours to improve overall customer satisfaction.

Financial strategic objectives 

Financial objectives emphasize improving the financial performance of the organization. They often involve increasing revenue, reducing costs, or improving profitability. 

For example, a financial objective could be to reduce operating expenses by 10% by the end of the fiscal year by streamlining operations and eliminating unnecessary expenses.

Social and environmental strategic objectives 

This type of objective goes beyond just financial performance and considers the wider impact of an organization's actions. It’s all about creating a positive impact on society and the environment where the organization operates. 

An example of a social and environmental strategic objective could be a company's commitment to reduce its carbon footprint or increase community engagement. 

Now, it’s time to get more practical. Let’s take a look at how you can set your strategic objectives using the Cascade model. 

Strategic Objectives Examples For Business In Practice

Following the Cascade model, you should align your strategic objectives with your strategic priorities, which are also called Focus Areas. 

As an example, let’s say that your organization's strategic plan will include the following five Focus Areas:

  • Financial Growth
  • Operational/Internal Processes Efficiency 

Customer Satisfaction and Loyalty

Employee engagement and retention, sustainability and social responsibility.

Next, gather your data about the current business situation and reverse engineer your company goals. Do a gap analysis that will help you evaluate your current state compared to the desired future state. You can also apply the McKinsey 7s Model which will help you analyze organizational gaps and misalignments preventing you from successfully tackling the business challenge. 

Using the approach described above, here are some examples of strategic objectives you could add under each Focus Area: 

Market & Financial Growth

  • Increase sales by 20% in the next three years.
  • Expand into new geographic markets until the end of June 2024. 
  • Achieve a 20% market share in a specific industry segment within the next three years.
  • Increase market share in a new industry by 10% within the next two years.

Operational / Internal Processes Efficiency 

  • Reduce operating costs by 10% in the next six months.
  • Improve supply chain efficiency by reducing lead times by 20% in the next year.
  • Develop and launch a new product line within the next two years to diversify revenue streams.
  • Enhance customer satisfaction ratings by 15% in the next year.
  • Increase brand awareness by 25% in the next year.
  • Increase customer retention by 15% until Q1 2024.
  • Achieve a 90% employee retention rate in the next two years.
  • Improve employee productivity by 15% in the next year.
  • Increase diversity in the workplace by 25% by Q4 2024.
  • Introduce a performance-based incentive program by  01/01/2024.
  • Reduce the carbon footprint by 20% in the next two years. 
  • Increase shareholder value by 25% in the next three years. 
  • Reduce waste by 50% in the next three years. 

📚 Recommended read: 25 Best Strategic Objectives Examples

How To Achieve Strategic Objectives Through Accountability? 

To successfully achieve strategic objectives, it's not enough to just write them down. Execution is the other side of the coin, and it requires accountability at all levels of the organization.

While the leader is ultimately responsible for the company's strategy, team members must also be held accountable to maintain momentum. 

According to Cascade’s Strategy Report , there’s a significant discrepancy between how frequently team members and C-suite executives review progress . The report found that only 18% of team members review progress weekly, compared to 64% of C-suite/executives.  

figure-strategy-awareness

This statistic highlights the importance of establishing ownership and accountability for strategic objectives and initiatives at a team level.

Without clear ownership and delegation of objectives, failure is almost inevitable. 

For example, in Cascade , you can easily assign owners to each objective and enforce accountability. You’ll be able to have full visibility into your team’s performance and the progress of your objectives— all in one place , without having to switch between multiple spreadsheets and disconnected business tools. This approach will help you achieve better execution and drive real results from strategic objectives.

💡 Tip : Assign too many owners to each strategic objective and you risk falling into a situation where people become overly reliant on “someone else” to own the goal. Far more people will be involved in the delivery through a series of linked projects, KPIs, and objectives. But you want at most two people to be responsible for the ultimate delivery of the strategic objective.

7 Tips And Best Practices For Setting Strategic Objectives

Following this guide should get you off to a good start with writing your strategic objectives. Here are a few tips to keep in mind:

  • Don't be afraid to iterate and adapt. You probably won't get things right the first time. That’s OK. Sometimes you need to get your strategic objectives out on paper to realize where the gaps are. 
  • Involve the people of your organization as early as possible. Don't sit in a room and try to do things yourself. Define your vision, values, and focus areas—and use that to help structure a broader engagement with your key stakeholders about what your strategic objectives should be. 
  • Expose your strategic objectives to your people. No matter how simple or well-crafted your strategic objectives are, you need to constantly remind your people and have them regularly engage with them. Use a dynamic digital platform like Cascade to achieve this.
  • Reverse engineer your strategic objectives. Analyze the KPIs to determine which ones are performing well and which ones are not meeting targets. Look for patterns and trends in the data to identify areas of opportunity or areas that need improvement. This will help you to create strategic objectives that are solving a business problem and have an impact on the success of the overall business strategy . 
  • Set success criteria. Once you set your strategic objectives, you need to have reliable data that will help you assess performance. One of the best practices is to include both leading and lagging KPIs into your metric mix so you get a comprehensive picture of your strategy performance. 
  • Make them SMART. Not sure where to start setting strategic objectives? Use a SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) goal-setting framework. This involves setting clear, precise, and smart goals that are measurable, realistic, relevant to the organization's vision, and have a specific timeframe for completion. 
  • Try OKRs . OKRs (Objectives and Key Results) are a goal-setting framework that can help you structure your objectives and set actionable steps that will help you achieve them. However, make sure you do some studying on OKRs and how to implement them because they do have some hidden traps that could undermine your efforts.

How To Set And Track Strategic Objectives In Cascade? 

Cascade is a strategy execution platform that helps businesses see faster results from their strategy and respond confidently to changes. Our powerful tool comes with a range of features, including extensive KPI dashboards, real-time data integration, and analytics capabilities. 

“As a corporate strategy leader, Cascade solves all of my pain points and keeps us on track with our goals and objectives. Strategic planning is one of the most painful processes any business can go through (and it happens every year!). … Cascade walks you through the process and does so much of the heavy lifting —it is a living, breathing, shareable strategy that provides direction and holds people accountable . ” - Mike L., Strategy Leader, G2 review

Whether you’re a business leader, a C-level executive, or a strategic planner, Cascade provides the tools you need to make data-driven decisions and achieve your specific goals.

👉 Here’s how you can track objectives in Cascade: 

1. Sign up or get your free strategic planning template

You can either sign up for your free forever plan and start setting your strategic objectives from scratch, or you can grab one of our strategic planning templates which are pre-filled with examples of objectives, focus areas, metrics, and projects. 

Here’s a preview of the strategic planning template: 

strategy plan template

✨More related free templates pre-filled with examples:  

  • Digital Transformation Strategy Template
  • Business Growth Strategy Template
  • Finance Strategy Template
  • Corporate Strategy Template
  • McKinsey's 3 Horizons Strategy Template 

2. Customize your data

While the Cascade template comes pre-filled with some examples, you have the power to customize your objectives and metrics to ensure they are relevant to your specific company needs.

3. Create the success criteria for your objectives 

In Cascade, you have various options to determine if your objective is successful. Under each objective, you can assign

  • Projects: A group of actions that will contribute to the success of your objective. 
  • Measures: Measures stand for KPIs. 
  • Actions: A specific initiative or activity that someone is doing to work towards the completion of an objective.
  • Contributing objectives: These are objectives from lower-level plans that will contribute to the achievement of your objectives. 

4. Integrate Cascade with your business tools 

With Cascade, you have two options to track your KPIs: manually and automatically. 

The latter option is far more efficient, as it simplifies data collection and ensures you're working with accurate and up-to-date data. 

By integrating Cascade with your favorite business tools, such as Excel, Google Sheets, or your CRM, you can easily import your KPI data and keep your team in the loop. 

5. Bring in your team

Send an invite to your team members to enforce accountability and ensure everyone is on the same page. 

With Cascade, you can assign roles and responsibilities, set up notifications, and communicate with your teams in one place.

6. Start tracking your objectives 

In Cascade, you have multiple views and data visualization options that will help you stay on top of your performance. 

This strategic roadmap view will help you plan, coordinate, and track progress on multiple strategic objectives over time. It will also allow your teams to have a better understanding of the progress being made, and to make informed decisions on how to allocate resources and adjust the plan as needed.

Dashboards: 

Cascade's powerful dashboards provide real-time visibility into your KPIs and allow you to quickly identify areas that need attention.

dashboard cascade (1)-1

With real-time data and visualizations, you can stay on top of your key performance indicators and get the insights you need to make informed decisions. Whether you're monitoring revenue growth, customer satisfaction, or any other metric, a real-time dashboard can help you stay flexible and focused on your business goals.

“Our strategy was previously all over the place. It lived in a number of PowerPoint docs that only management would read. … The reports were a lot of effort but provided no real insight for the next quarter. Cascade has simplified all of that. Everyone knows exactly what they need to do to achieve our objectives and the dashboards and snapshots make it easy to stay on top of it and change direction if needed. It feels like the strategy is top of mind for our teams now .” - Lachlan W., Associate Director, G2 review

Achieve Strategic Objectives With Cascade 🚀

If you’re an outcome-driven business leader, tracking and achieving strategic objectives is crucial for maintaining growth and staying ahead of the competition.

With Cascade's powerful strategy execution platform, you can take control of your objectives and monitor progress in real-time. This will help you streamline your strategic planning and execution, and stay agile in the face of changing market conditions.

Whether you're focused on scaling your business, improving customer experience, or optimizing your financials, Cascade can help you achieve your objectives and stay ahead of the curve.

Sign up today for a free forever plan or book a 1:1 product tour with Cascade’s in-house strategy expert.  ‍

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Better Knowledge. Your Insight Is Sharper

Business Objective: Importance, Examples, Criteria, How to Write

Updated on August 13, 2023 by Ahmad Nasrudin

Business Objective: Importance, Examples, Criteria, How to Write

What’s it:  A business objective is a specific, measurable, realistic, relevant, and time-bound business target. In other words, they represent what results we want, for example, in one year, two years, three years, and so on. These results should be as measurable as possible. So, we can assess our progress and measure how well and quickly we are achieving it. In addition, measurable objectives are also important to take corrective steps when we fail to achieve them according to what we set.

Businesses need objectives to guide the organization and the people within it. Therefore, management sets goals to provide a clear and agreed focus on where the business is going.

Business objectives can be related to growth, profit, and market share. And a business may have more than one objective.

Good objectives must be aligned with the overall goals and vision. In addition, they must also be implemented into specific objectives at  the business function level.  Thus, the marketing, operations, human resources, and finance departments develop complementary and consistent objectives with business-level goals.

For example, a company targets a 30% increase in sales in the next three years. It should also be implemented into business functions. For example, the marketing area intensifies online channels to increase sales. Meanwhile, in human resource management, companies may want marketing staff to be certified as Professional Certified Marketers in the next year to improve their competence. Management expects an improvement in competence will make it easier for them to achieve higher targets.

What is the difference between a business objective and a business aim?

Objectives are different from aims. Aims are where the business wants to go in the future. For example, your company wants to be a market leader. It concerns an outline to fill in with future specifics (goals).

Objectives describe in detail how you will achieve your business aims. It is measurable and specific. For example, you set your  market share  to increase by 10% in the next three years.

Being a market leader means you have to have the largest market share in the market. So, you have to sell more than your competitors. If success sells more, your market share increases. And when you have overtaken a competitor’s market share, you become the market leader.

Long story short, aim precedes objective. The latter lays out the specific steps to achieve the former.

Why are business objectives important?

Objectives become a way to support the company’s long-term goals toward a sustainable competitive advantage. By assigning them, our attention will be more focused on what we must do and want to achieve in the near future. We then define responsibilities, allocate resources, and set targets for everyone in the company.

Several reasons why business objectives are important.  First , they serve as a guide for setting objectives at the business function level. We break down long-term goals into specific objectives for each business function. Thus, inter-functional objectives can support each other and be consistent with the overall business objectives.

Second , the objective is also a motivation. It motivates employees and managers about what they must achieve and work on. As a result, they are more eager to carry out their role with a clear direction.

Third , the objective is also a way to develop evaluation and control within the company. For example, do we know which objectives missed the target time? What has not been achieved, and what has been achieved? Which division was successful in achieving its objectives? We need them to evaluate performance and appreciate superior individuals or divisions. In addition, we can also take corrective steps for future improvements.

How to write business objectives?

Writing business objectives requires us to think about what our business visions are. Then, we break down these goals into several relevant objectives to be achieved. For example, in the previous example, you wanted to be the market leader.

Being a market leader is still an abstraction. You haven’t defined specific steps and results to back it up. In other words, you have not set an objective to become a market leader.

Criteria for good business goals

How do we write effective business objectives? We must consider the following five criteria – abbreviated as “SMART”:

Specific.  We must define objectives as clearly as possible. We have to identify and make it more specific. For example, being a market leader means you have to increase your current market share and, therefore, need to increase sales.

Increasing sales can be achieved in several ways. For example, you encourage existing customers to increase repeat purchases. Or, you increase sales by acquiring new customers. Or, you develop a new market by entering a foreign market. In addition, you can also take other steps such as improving after-sales service and increasing advertising.

Measurable . We quantify our specific objectives as much as possible. In other words, we translate them into numbers. So, for example, you target new customers to increase by 10% to support increased sales. Or, you target a 10% decrease in complaints to encourage customers to repurchase.

Achievable.  Our objectives must be realistic. We can reach them, considering the company’s resources and competencies. For example, targeting new customers to increase by 10% is possible for you to achieve, likewise with a decrease in complaints.

Relevant . Objectives must support the company’s long-term goals. In addition, they must be aligned with the company’s other objectives. They must also be relevant to the environment in which the company operates.

For example, targeting new customers to increase by 10% may no longer be relevant to the environment in which you compete. You are competing in  a mature or declining industry . So, everyone has bought the product. Consequently, you can only increase sales by stealing customers from competitors.

Time-bound.  We must determine when we reach our objective, one year, two years, or three years? Assume you operate in a growing industry. And let’s say you’re targeting a 10% increase in new customers in three years. Meanwhile, you are targeting complaints to decrease in the next year.

What are examples of business objectives?

Business survival is a common objective for small businesses. They strive to continue to generate sales and keep the business operating amidst competitive pressures.

Other key business objectives may be:

Profit maximization . When businesses break even, they seek to pursue as much profit as possible. They seek to generate revenue at a more efficient cost.

Growth . For example, success at one product might prompt us to introduce another. Or, we expand into a wider market when we are successful in our current niche.

Market share . Many businesses want to be market leaders. A higher market share allows for a stronger market position. Thus, we have stronger bargaining power when dealing with stakeholders, enabling us to make more money.

  • What Are Examples of Operational Objectives?
  • What are examples of marketing objectives?
  • What Are Examples of Business Objectives?
  • Human Resource Objectives: Examples and Why It Matters
  • Financial Objective: Examples and Detailed Explanations
  • Operational Objectives. What are some examples?
  • Marketing Objectives: Examples, Importance, and How to Write With SMART

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Goals and Objectives for Business Plan with Examples

NOV.05, 2023

Goals and Objectives
 for Business Plan with Examples

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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  • Weekdone Resources Articles Writing Good Objectives for Business

Writing Good Objectives for Business

Your "how to" guide for writing good objectives with examples + tips

How to Write Good Objectives - Weekdone Academy Resources Article

What is a “good objective”? Any good objective should help point you in the direction toward measurable and achievable outcomes. But first, you need a good understanding of what needs to be fixed, created or improved upon, and why this matters right now.

In the business environment, we talk about strategic goals, or objectives. In our case at Weekdone, we believe in (and run on) the OKR methodology .

OKR stands for Objectives and Key Results, it’s a goal management framework used to tackle challenges or go after new opportunities bringing companies and teams closer to growth and success quarter after quarter. Objectives and Key Results are most successful when the company sets one overarching Objective for the quarter, and then teams create their own more focused OKRs with that big picture goal in mind.

So let’s break it down.

Guided OKR-writing with OKR Wizard

Use our built-in OKR Wizard to write high quality OKRs from scratch.

  • How to write good Objectives and Key Results

An Objective is an inspirational statement, or ambitious and strategic goal that gives you, your teams and company clear direction and focus. 

First focus on understanding what your team needs to achieve. Try to write it out as descriptive as possible. Once you are clear about the focus area, you can phrase your Objective as a short inspirational statement.  

Pro Tip: While writing and drafting your team OKRs , consider starting these statements with action verbs, words like: improve, gain, expand, and develop.

  • 4 Questions to Ask When Writing Good Objectives

Think of the potential focus areas for the quarter and discuss with your team the following questions:

  • What problems or challenges do we need to solve? How do we solve them?
  • What is stopping us? How can we overcome it?
  • What could be changed for us to have better results as a team?
  • What could we achieve in one quarter?

Remember, Objectives are not projects – those are Initiatives 😊

This means that not everything you do in your organization will be directed towards achieving an Objective. On average, teams spent only 20-40% of their time working towards ambitious Objectives. The rest of the time they need to deal with business-as-usual, recurring tasks and things that just need to get done. 

Business-as-usual keeps us where we are, but OKRs are meant to drive the company forward. 

In order to keep focus and see progress, you need to be able to commit to certain tasks. This means the optimal number of Objectives per team will be 1 per quarter. More than that and you may quickly lose focus and people won’t see the benefits of OKRs . Air on the side of “less is more”.

For teams working collectively in a department, it’s possible you’ll have more than one objective – but this depends on your company structure.

Need assistance in learning the Objectives and Key Results methodology? Weekdone’s OKR coaches are here to help you in your journey from the ideation and drafting phase, down to implementation and tracking. Learn more about Weekdone OKR consulting
  • 4 Must-Know Tips for Writing Objectives

After you have picked the focus areas for the quarter, you can move on to phrasing and writing an inspirational Objective for your team. 

1. Objectives should be inspirational and easy to remember

If people do not know or can’t remember the Objectives or team has, it’s also quite hard to make sure that they are working towards achieving them.

When you are writing an Objective, remember those action verbs! Do not just write “customer loyalty”. Instead, start with improve, create, increase, maximize, grow, build, leverage, etc.

Frame an Objective in positive language. For example, do “more” of something beneficial rather than cutting back on something negative. It’s human psychology to aspire to growth rather than cutting back on something.

Bad Objective example:

“Reduce the production costs to earn more profit”.

Good Objective example:

“Maximize company profit earnings through sustainable efforts across all teams”

The second example already gives readers an understanding of what you want to achieve, “more profit earnings”. Not only this, but it gives some insight into the problems the company is having, they’re not working efficiently in their current efforts – so this quarter will be about optimizing processes to improve profit earnings.

2. Objectives should be qualitative 

When writing Objectives, yes – you need to consider how you’ll achieve them, but there is no number in this visionary statement.

If you put the number into your Objective, people might start listing outputs and activities as the relative Key Results. This guides individuals to think in the wrong direction. All the measurements and values belong to Key Results. Or sometimes, as KPIs .

Exception to the qualitative rule: “ Become the number one SaaS company in Germany ”

3. Objectives should be actionable and achievable in a quarter

Sounds easy but it’s far too common to set goals that are too broad – making it difficult to process or generate innovative ideas.

Let’s take the example of: “Reducing churn”

This might be an important goal for a Sales Team but it is not a good quarterly Objective – it lacks specificity and it’s not actionable.

First, it’s almost impossible to make such a big impact in just one quarter.

Second, churn is a summary of many contributing factors. It’s the question of marketing bringing in enough quality leads, it’s about the product being in demand and keeping customers satisfied and it is also about the current economic situation affecting the business.

The sales team plays its own role in reducing churn and they should write an objective appropriate for what their team can actually improve and influence with their skilled efforts.    

4. Objectives should provide business value

Objectives focus on problems to solve, areas to improve or new opportunities to take. If an Objective is achieved, it should bring positive business value.

Let’s look at the example of a Marketing Objective: “Develop a new marketing plan”

This is not an Objective because it is not connected to real business value. Instead, if you think a new marketing plan is crucial for the quarter, start from the questions:

  • Why did we need a new plan in the first place?
  • What will this new plan help us achieve?

These questions help you dive further to find the real value by specifying a statement that meets the organization’s needs.

A good objective for this marketing team could be to “Improve our brand awareness by sharing our solution with more customers” .

  • This brings more people to your product and more value to the business.

In short, do not confuse what you do (initiatives and weekly plans ) with where you want to go (objectives)

  • 3 Ways to Avoid Writing Bad Objectives

1. Objectives should not be too easy

If you are just starting out with OKRs, achieving 100% of your Objective in 3 months is pretty common. This will help to support team morale and motivate people to set more ambitious goals next quarter.

If an Objective is achieved well before the end of the quarter you weren’t thinking big enough. And if you don’t reach anywhere near that, you may have set an annual goal instead.

Once you become more comfortable with setting Objectives and Key Results, you will want to make them more ambitious. When you hit 65-70% of an ambitious goal, it is still quite an accomplishment! Don’t become discouraged if you’re only achieving two-thirds of your Objective in one quarter – objectives are stretch goals – or in Weekdone, we call them “moonshot” goals.

That being said, you want to make sure that 75% doesn’t become the new 100% for your team! Everyone should always aim to achieve 100% of their Objective by coming up with new ways to produce better results.

Read more about aspirational vs. committed goals

2. Objectives are not projects with sub-tasks

Objectives are aspirational goals. They are not one-off activities that would be considered as tasks or plans.

So if we wanted to write an Objective for a sales team to increase the  revenue in Q3, a good focus area could be to:

Increase product reach in Germany 

This Objective works, since it’s aspirational, time-bound (Q3), and helps move the sales team forward.

An example of a bad Objective would be:

Write a product marketing plan for Germany

We would consider this a bad Objective since it doesn’t give us any insight into what we’re trying to achieve with the new product marketing plan. It also fails to share the actual business value the plan will bring. So, when you are writing objectives – think about the reason and desired value that achieving different outcomes will bring.

3. Objectives are not your business-as-usual targets

A bad objective would be:

Achieve $2 million in revenue

When writing your objective statements, you need to set a clear path – for either the business or teams – and this example doesn’t do that.

We all want to make money, of course! Those monetary targets are important but they are KPIs, not OKRs . There’s no point in setting quarterly goals that are just your KPIs rephrased as OKRs – carrying over quarter after quarter without any new outcomes or improvement.

Looking for more OKR examples to inspire your teams? Check out 30+ OKR examples + the thought process behind each. The most effective way to help your teams define better OKRs is using a tool like Weekdone. Interested to learn more about the features included to support your business and teams? See our product features .

Ready to Set OKRs?

Get 2 weeks free. We know testing software is best with a group or pilot team – so, we offer unlimited users with full features available. No credit card required.

Bit Blog

Business Objectives: How To Set & Achieve Them?

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Let’s face it – there’s no way anyone is going to work towards anything without an ultimate goal line in sight. This is why setting objectives is a foundational step for businesses.

Goals and objectives help you stay focused and motivated towards your work and make you constantly think about how to be better every single day. Successful businesses always give priority to setting goals and objectives for their business and ensuring that they do everything they can to achieve them.

According to a study , it was found that nearly 46% of companies keep reviewing and revising their goals throughout the year. This tells us that goals are fluid and can change according to demands and situations.

But just the mere setting of goals is not enough, the more important aspect is working towards achieving them. Research has found that nearly 40% of people write down their goals, but don’t check whether they have achieved them or not. This is exactly why many businesses don’t taste success. It was found through a study that only 5% of people achieve all of their goals.

Therefore it is important for us to focus on business objectives, why they are important, how to set them, and how to achieve them. And this blog will guide you through it all!

Let’s get started!

What are Business Objectives? (Definition)

Business objectives can be defined as the specific and measurable results that businesses aim to achieve in a given time. They help dictate how an organization should allocate its strengths, weaknesses, and opportunities.

Setting business objectives act as a compass for the company. They aim to clearly articulate the purpose of the organization , and in which direction they want to take their business.

Here’s an example of a business objective: Our company wants to improve employee productivity and minimize the number of errors they make by prioritizing and investing in proper employee training. The performance of the employees will be reviewed and monitored on a monthly, quarterly, and yearly basis.

Now that we know what exactly business objectives are, let’s look at their importance and how they can benefit a business.

Why is Setting Business Objectives Important?

1. clarity of thought.

Understanding the direction in which the organization wants its employees to go keeps them engaged and allows them to understand what they are expected to achieve. When there is a clear idea of what to do and to aim for, your employees are motivated. Having a clear target in mind helps them put all their efforts toward those objectives and keeps them focused on the task at hand.

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2. Means of Motivation

There is nothing that motivates a human more than working towards a set objective . It drives them with purpose, and ambition, and makes them work hard by putting real effort into everything that they do. Keeping the workforce motivated and inspired is always something that an organization works towards, and setting business objectives is one of the most efficient ways of achieving it.

3. Analyzing Growth

A clear set of objectives will help you analyze and understand how well you are doing as a business. Keeping a constant check over the objectives and whether they are being achieved or not will aid you in understanding what exactly you want to do to make those objectives into possibilities.

You can keep track of your progress by making these objectives a checkpoint for your growth. This will help you in finding out if you are not working at your potential and what you can do to improve. Charting your growth is a very crucial step towards actually growing and reaching new heights, and you cannot do this, without setting objectives.

Now that we have understood why business objectives are so crucial, let’s try to determine the process behind setting business objectives and achieving them.

Employee Moving Forward with setting Business objectives

How to Set Business Objectives? (A Step-by-step Process)

1. brainstorm for ideas.

Having as many ideas as you can come up with can be the starting point for setting business objectives. You need to sit down and brainstorm to come up with these ideas.

Thinking of creative solutions to the challenges you face as a company will be a good way of coming up with good ideas. You also need to work on the potential goals you want to achieve and try to align them with your business objectives.

The whole point of brainstorming is to generate as many ideas as you can. So don’t worry if you have an overwhelming amount of ideas at this point, as you will have the opportunity of filtering them out at a later stage. Just ensure that you incorporate everything you need to achieve as a business in these ideas.

Read More: How To Create A Brainstorming Document? (Template Included)

2. Crowdsource for Ideas

One way of ensuring that you have a bunch of great ideas is by including more and more people in the idea generation and brainstorming sessions .

You can consider taking the opinion of your employees when you are coming up with business objectives. Opinions from employees at all levels will be able to tell you the challenges they face at work daily. This can help you come up with solutions and include them in the business objectives to grow your business.

You can take help from digital software and tools to get the information and ideas that you want from your employees. Using a workplace collaboration platform, like Bit.ai can help you and your team have open communication, discussions, and brainstorming sessions via group chats, one-on-one chats, comments, @mentions , and more.

Bit helps you create, collaborate, share, track, and manage all company information in one place. It lets you create smart workspaces around projects, teams, departments, and clients to store information and collaborate seamlessly.

Bit is simply the perfect place for you to brainstorm and collaborate with your employees about setting business objectives for your organization!

Employees discussing Business Objectives

3. Organize and Categorize

Once you have a wide variety of ideas and information gathered from your employees, you will find that several ideas have a common pattern or similar purpose.

Take time to review all the ideas and information generated so that you can organize and categorize them into groups . Some examples of the common categories of business objectives include customer satisfaction, financial growth, recruitment, retention, shareholder value, and more.

This will make it easier for you to identify and prioritize your business objectives and help you achieve them with ease at a later stage in your business journey.

4. Reflect On Your Ideas

After having the right mix of ideas, make sure that you sit back and reflect upon them so that you can filter out the ideas that you don’t require and focus on the necessary ones. This is also the time you check whether you have incorporated everything you need and want from your business objectives.

Sure, well-set business objectives might not require to be revised or changed, however, it doesn’t mean that you shouldn’t. There might be changes in trends or the emergence of new technology that will result in your business objectives being outdated. So it is always a good idea to go back and reflect upon what you have come up with, how you can improve it , and stay updated all the time.

5. Create a Sound Action Plan

Objectives on their own are not worth much if you don’t have the right action plan for them. Creating a comprehensive flow chart that details every bit of work that the task requires is a very important part of setting business objectives. You should give this process ample time and energy to ensure that there is no room for error and doubt.

Once you have the right action plan, you are ensured of good output. Consider making the right action plan as half the job is done. A detailed comprehensive action plan has to be made by an expert and should be scrutinized enough times before being finalized. Giving this part of the task the required time will only make the future path simple and achievable.

6. Set a Deadline 

Every business objective should have an achievable deadline. You don’t want to get complacent at work and working without a deadline will make it so.

Having a time frame decided for achieving every objective should be a big priority. This will ensure that you have a set pattern and pace of work that everyone will follow, giving you stability and mental peace at work.

The deadlines should be based on the task that you have assigned and the quality of your employees . Ensure that the period that you allot to your business objectives is realistic and attainable based on the resources available to you. The deadlines should be just enough to push your employees and make them work at their best potential.

7. Track and Monitor

You can’t just set objectives and go back to life thinking all work is done. You must take the time to review , track, and monitor your progress after a certain gap.

Analyze and assess your business objectives and the results they are bringing. This can be done after a month, a quarter, or a year, but you must be consistent with your evaluations.

Tracking and monitoring will help you understand whether your strategies and method are working and whether you need to make any changes that will boost your company’s performance.

Setting business objectives is only one part of the job, achieving them is the other half. So let’s now see how we can bring our plans into action and achieve business objectives.

How To Successfully Achieve Business Objectives? 

1. communicate well.

The art of communication cannot be underestimated when it comes to achieving business objectives. Objectives written in PPTs and excel sheets will remain pointless if you don’t have the communication skills required to explain them.

You need to have the right person for this task, who has the relevant communication skills to articulate what needs to be done and how. Ensuring that there are no communication gaps will go a long way in having an efficient and smooth flow of work.

2. Provide Constant Feedback

Employees do well when they get relevant feedback on time. Having an understanding of what they need to do better or how they can improve the efficiency of their work helps in achieving business objectives.

The feedback that you provide your employees should be relevant, precise, and simple enough for them to follow. Ensure that you are not interrupting someone’s work just for the sake of it, and are giving them feedback that will help them improve their productivity.

Feedback acts as the right catalyst to improve the performance of the employees and also keeps them alert towards their work. Good feedback also helps you build a good relationship with your employees and helps your aura as a leader.

3. Monitor Performance 

One of the most essential parts of achieving your business objectives is by ensuring that you keep a constant check on the performance of your organization and employees as a whole. Only through constant monitoring of performance will you be able to give the right feedback to your employees at the right time.

Monitoring performance will help you in understanding exactly where you stand in terms of achieving your business objectives. It helps you be always in touch with your goals and objectives and ensures that you manage to achieve them. It also helps you know exactly where you are going wrong or need to improve so that you can work on it accordingly.

Employee Monitoring Performance

4. Effective and Efficient Management

Managers are the backbone of any organization and they play a crucial role in ensuring that you achieve your business goals. You need to have the right managers with the right skills and personality to constantly inspire and motivate the employees and keep the workflow smooth and efficient. With the right leadership and the right management philosophy, you will be able to achieve whatever you want in your business.

5. Technology 

In the modern world, if your technology is not up to date, you will always lag in your goals and objectives. The use of technology improves the efficiency and productivity of your work and makes mundane tasks simple to accomplish.

Ensure that you have the right modern equipment and technology to make your tasks easy to accomplish. Technology is a key factor in determining whether or not you achieve your goals and therefore you need to invest in it accordingly to ensure that you are not lagging.

Read More:  10 Workflow Management Software Every Business Should be Using!

Different businesses have different goals and objectives, but the concept and structures required to achieve them are more or less the same.

Without proper planning or structure, there is a high probability of your business objectives failing, therefore you must invest time in coming up with the right strategy to achieve them.

Ensure that you always have the right ethos and that it matches your business philosophy so that you can set your business objectives accordingly. Good luck, folks!

Further Reads:

Agile Marketing: Definition, Benefits & Process!

SMART Marketing Objectives: What are they & How to Write them?

Objectives and Key Results (OKR): Definition, Importance & Examples!

10 Business Drivers to Grow Your Business!

Bsuiness Objectives Pinterest Banner

Business Process Mapping: Definition, Importance & Process!

Business Pitch: What is it & How To Create it? (Steps Included)

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business objectives for brands

The 7 Business Objectives You Need to Set for Your Brand

  • October 4, 2022

Written by Nick Brogden

Guest Author

A great team and solid product make the foundation of a successful company, but for a business to thrive, it’s crucial to set clear business objectives. 

In this material, we’ll discuss the definition of business objectives, why they’re important, and concrete examples of objectives you can use for your business.

Get the guide for creating a social media marketing plan for your business.

write business objectives

What Is a Business Objective?

Every entrepreneur or leader will have goals or objectives that they want to achieve for their business. To put it simply, objectives are the results you want to see as you continue to grow and they play an important role in the strategic planning process. 

There can be short-term business objectives, which can be set monthly or even weekly, and long-term business goals, which usually involve more significant changes. Short-term goals are the ones that businesses work towards achieving their long-term goals. 

Good business objectives should be concrete, measurable, and have a set timeline. These types of objectives serve towards improving the company’s strategic activities.

Why Are Business Objectives Important?

Business objectives can help you make informed decisions and strategies for all aspects of your company: whether you want to hire new people, increase employee satisfaction, boost profile margins or achieve profitability.

For example, if a local bakery’s long-term goal is to be the number one bakery in the city, its business objectives can look like this: increasing its month-on-month sales by 20%, getting 10% more followers on its social media pages, and getting more foot traffic to its store. 

Having set business objectives, the business owner can now form a strategy that can help their team contribute towards accomplishing each business objective. These concrete goals can also help you monitor and determine your progress and overall success. 

Top Business Objectives You Need to Set for Your Brand

Each business plan is different, therefore, each organization has to set specific goals in order to achieve the desired outcomes, whether we are talking about increasing short-term profits, improving change management, or of a large-scale organizational change. That is why hiring freelance financial modeling consultants is always helpful in the long run.

These are the most common types of business objectives your company should focus on:

  • Marketing business objectives
  • Social media business objectives
  • Revenue business objectives
  • Operational business objectives
  • Productivity and performance business objectives
  • Customer satisfaction business objectives
  • Growth business objectives

1. Marketing Business Objectives

Marketing objectives are the results you want to see after running your marketing campaigns.

Without marketing objectives to guide you, your efforts will end up with no clear direction and a confused audience.  Setting marketing objectives can also help your team decide which tactics and techniques they can use to get results. 

One of the most iconic marketing campaigns of all time is the “Got Milk?” campaign by Goodby Silverstein & Partners for the California Milk Processor Board. The objective was to boost the declining milk sales in California. 

Got milk?

Guided by the business objective, the team was able to conduct research about their target audience and found out that most milk drinkers thought of milk as an accompaniment to certain food. 

Research findings helped the creative team come up with a simple but highly effective campaign, depicting all kinds of people and characters placed in situations where they needed to wash something down with milk, but they didn’t have enough.

Without a clear marketing objective, the agency behind the successful “Got Milk?” slogan probably wouldn’t have been able to target the right audience or come up with such a memorable campaign. 

To be able to set clear objectives, it is important to schedule your marketing business activities accordingly. Most companies use a marketing calendar in order to understand the needed resources and the time frame of their marketing plan.

2. Social Media Business Objectives

While marketing objectives and social media objectives may sometimes be the same thing, social media objectives are specific to the metrics you can find per platform. 

For example, if your objective is to grow your follower count on Instagram by 1000 at the end of the month, you’ll know that you have to run follow ads on Instagram and/or partner with an Instagram influencer. 

Goal Instragram

Setting a social media business objective will help you decide on a platform, set the correct goals, and accurately measure results. If you need a helping hand, SocialBee can be used to see how close you are to achieving your goals.

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You can also hire a virtual assistant to help you manage your social media objectives. They will help you run campaigns and execute your social media strategy.

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Monitor Your Social Objectives with SocialBee's Analytics!

3. revenue business objectives.

Setting revenue business goals is perhaps one of the most intimidating objectives to set as a business owner. 

But as you already know, you can’t run a business without making money. A revenue business objective will depend on the way the specific organization grows. For example, if you just set up a shop, your objective might be to break even by a certain date. 

Most business owners will base their revenue business objective on their most recent revenue number. They take this number and set a reasonable target based on how the business is performing. 

revenues

These are some useful questions to ask yourself while trying to figure out which revenue business objective your business needs:

  • How many customers do we have now, and how much is each of them spending?
  • Should we increase the spending value per client, or should we try to attract more customers?
  • What are the profit margins for each purchase?

4. Operational Business Objectives

Operational business objectives are goals set for specific departments in a company, meaning a company can have multiple operational objectives with different targets. Operational goals can help a company achieve efficiency, improved productivity, and more. 

Operational business goals are usually tied to other long-term objectives. For example, if your long-term objective is to reduce production costs, your operational objective can be to find lower-priced raw materials. Similarly, if your goal is to attract more employees, your operational objectives can be to increase the number of interviews held by the HR department by 10%.

5. Productivity and Performance Business Objectives

Productivity and performance business objectives are goals assigned to individuals or entire teams. These objectives are set to help employees become more efficient and, in turn, help the business accomplish its long-term goals. However, they are also one of the basic tools companies can use to increase employee satisfaction.

Productivity and employee performance goals and objectives are usually set during the start of a quarter and then used as a reference for employee evaluation. They can be either team or individual objectives.

For example, a marketer can be assigned an objective, such as “increase average cold emails sent by 20% per month”. While the whole sales team could have an objective that targets developing stronger relationships with existing customers. By utilizing business process automation , organizations can conveniently create, modify, and enforce productivity goals while also increasing employee engagement throughout the entire organization.

6. Customer Satisfaction Business Objectives

One of the telltale signs of success is customer satisfaction. Setting customer satisfaction objectives will help you create a solid customer support strategy that will help you retain customers and turn them into loyal followers. You can even visualize this strategy later by using a process flow diagram so that employees can easily understand their roles and responsibilities at each stage, ensuring a consistent and effective customer support experience.

One example of a customer satisfaction business objective is to reduce chat response time by 45 minutes. If you are offering  customer education , that would mean calculating the customer engagement or customer churn rates.

7. Growth Business Objectives

Growth business objectives are usually long-term goals that encompass an entire business. Each “small” goal should contribute to achieving a business’ overall long-term growth objective. Growth objectives are your most important objectives because these will help you determine the future of your business.

For example, a food stall’s growth business objective can be to open X number of stalls across X cities by the end of the coming year. 

How to Set Clear Business Objectives

Now that you know which type of objectives your business can set, it is time to take a look at the steps you need to take in order to set and achieve them.

In order to set clear business objectives, you have to:

  • Evaluate your current business strategy and run a SWOT analysis
  • Research the market
  • Keep an eye on the competition
  • Follow the SMART objectives formula
  • Monitor your progress constantly

1. Evaluate Your Current Business Strategy and Run a SWOT Analysis

Any business will know that company planning is one of the most difficult parts of running a business. Both corporations and small businesses run a SWOT analysis to help them understand what they’re doing right, and what aspects of the business they need to improve. 

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. To run an effective SWOT analysis, you can create a simple grid that you can fill in.

After conducting the SWOT analysis, leaders can then plan each business objective that will help address the listed weaknesses and threats. Identifying your strengths and opportunities can help ensure that you continue what you’re doing to give your business an edge over competitors. 

2. Research the Market 

Market research is a crucial step you must take before you write business objectives. Taking the “Got Milk” example, research showed that 70% of Californians claimed to be milk drinkers. 

If no research was conducted, the agency might’ve made the mistake of targeting non-milk drinkers—everyone knows that it’s easier to engage existing customers than to convert new users. 

Without researched-backed knowledge, it’s easy to create the wrong messaging and run campaigns that simply don’t work. Without understanding the market, you can make expensive mistakes that could easily be avoided. 

3. Keep an Eye on the Competition

Knowing what your competition is doing and how its audience is responding to it can help you determine your next steps as a business. Keeping tabs on your industry can also help you gauge where you stand in the market and effectively develop strategies that will get you ahead. 

Therefore, when you set objectives for your organization, it is important to focus on what other players are doing and measure performance in accordance with your role on the market.

Access the template below for a streamlined social media audit process.

Social Media Audit

4. Follow the SMART Objectives Formula

The next step in the process is to define business objectives. To set clear strategic objectives, it is recommended to follow the SMART Formula.

SMART business objectives will help you craft, track, and accomplish both short-term and long-term objectives. 

But what actually is a SMART business objective? SMART is an acronym for Specific, Measurable, Attainable, Relevant, and Timely.

To have a deeper understanding of what SMART goals consist of, this is their step-by-step explanation:

  • Specific: A business objective must be specific, so both your employees and you have a clear understanding of what to do in order to accomplish it. Every business can set general statements, but successful business activities require specificity. For example, instead of saying  “improve social media performance,” you say “increase Instagram follower count by 500 new followers every month.” Setting clear business objectives will give your team an idea of what target to hit by a specific time. Otherwise, vague statements can have multiple interpretations. 
  • Increase the market share with 20%
  • Improve the employee retention rate with 10%
  • Increase profit by 5%
  • Attainable: While it is important to have a challenging objective to encourage better performance, goals should always be achievable and attainable. To help you, you can use competitors as benchmarks or previous performances. Ask yourself: “Using all our basic tools, can my team/company achieve that goal?”.
  • Relevant: Objectives should never be set for the sake of challenging yourself. Even if you choose an only objective, it has to be relevant. Every primary objective you set for your team or business should contribute to achieving your long-term goals. 
  • Timely: When defining objectives, they should be time bound, meaning they should have a start and expected finish date. Without time constraints, there will be no motivation or reason to start working immediately. Having a set schedule will also keep management and employees aligned. 

5. Monitor Your Progress Constantly

After setting your business objectives, don’t just return to it when the results are ready. Business objectives function only when you are monitoring them accordingly. Tracking your progress will not only keep you motivated, but it will also help you pivot and adjust your objective if needed. 

You can use various tools to track your progress in each type of objective: social objectives, economic objectives, human objectives, etc. For example, to track your social media objectives, you can use SocialBee’s analytics. You will see how far you are from the desired engagement or reach, and you will be able to adapt your social media strategy accordingly.

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Start your 14-day SocialBee free trial and keep track of your social media progress!

It’s Time to Start Setting Business Objectives!

Setting goals and objectives will give your company something to work towards. After all, without directions, how do you know where your business plan is going? 

While long-term goals and visions may be obvious, it’s essential to lay out various short-term objectives. This will help you  understand what actions each team member has to take to contribute towards achieving your ultimate goal—success. 

From revenue to marketing and social media objectives, it’s time to focus on setting clear goals that can make your organization bloom. And then measure their performance accordingly! With SocialBee, you can keep track of your social media objectives. Start your 14-day free trial now !

About the author: Nick Brogden  is the founder of Earned Media. Television presenter David Koch “Kochie” calls him a digital growth expert. Nick has lectured on SEO and content marketing at the University of Technology Sydney.

Nick is a regular contributor to Entrepreneur and Flying Solo. He is a recurring expert guest on Kochie’s Business Builders on Channel 7 network TV. Nick specializes in SEO and he has been working in the SEO industry for over ten years.

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Article written by

Alexandra

Content writer at SocialBee

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COMMENTS

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