Having long-term business goals is important if you want your business to survive, let alone thrive. After learning how to set objectives effectively, make sure to meet those targets by following these three steps – plan, act, and monitor.
Magic assistants can help with routine work in acting on goals and monitoring, so you can stay on track to meeting them.
Understanding Long-Term Business Goals
Goal definition clarifies the direction a person or business should head to. It’s what you want to attain eventually and you create steps to reach it. It’s a vision, which one plans for and commits to making a reality.
For example, Facebook CEO Mark Zuckerberg launched Meta, a new company brand that brings its apps and technologies together. Meta aims to bring the metaverse to life to help people connect, find communities, and grow businesses. As a result, Meta now enables its customers to have social connections, fitness, work, gaming, education, commerce, and entertainment within this social technology company.
In line with defining goals, business goals are plans that a business anticipates and aims to achieve within a specified time frame. Business goals and objectives are set by the company and will be communicated to departments, managers, and virtual assistants. Check out some tips on setting business goals.
IBM aims to improve its focus on its AI capabilities and open a hybrid cloud platform. With this goal, it’ll focus on delivering managed infrastructure services to its customers. To achieve this, they focused on accelerating their growth and eventually seized the chance of getting the $1 trillion hybrid cloud. This should help them enhance their AI capabilities in the sense that these AIs become more flexible and agile. Ultimately, this results in giving a better customer experience to IBM’s customers.
Long-term business goals require more comprehensive planning and take time to achieve for the business. They start by setting long-term objectives. Next, each department or team gets short-term goal assignments that are aligned with the company’s long-term goals. As such, the department’s goals and objectives need to be based on the company’s goals when setting business goals.
Customize Your Virtual Team Based on Your Needs
Magic works hard to match clients with reliable and goal-oriented virtual assistants. Fruit Street, a healthcare startup needed funding to grow the business. Laurence Girard, the CEO of Fruit Street, asked Magic to help him raise funds for his company and recruit doctors to his platform. Using various lead generation techniques, Magic assistants eventually helped him build a flowchart to improve their sales process. In the end, Magic raised $10mm for Fruit Street’s seed funding.
3 Steps to Achieve Long-Term Business Goals
Today’s long-term business goals should be more strategic in the sense that they push your business to take big steps forward. Here are three main steps you can take to achieve long-term business goals.
1. Plan
Organize the goals to be accomplished within 10 years. Small businesses and startups may find it more difficult to plan what they want to do within the next ten years. To guide you on how to plan, here are the steps you can do:
- Identify and list down as many goals as you want to accomplish for your business.
- Rank your long-term goals to set which ones you should prioritize.
- Focus on accomplishing your goals according to priority.
- Re-do the steps for the next long-term goal in line.
Planning your actions so you know what to set as objectives, budget, and efforts will help boost your success.
In August 2018, Apple succeeded in being the first publicly traded US company to reach a $2 trillion market cap. Its success lies in its strategic innovation that surpassed simple desktop computing to merge mobile devices and wearables. They wouldn’t have been able to do this without careful planning.
2. Act
After listing all your plans, create short-term objectives that support each long-term goal, especially the long-term goal that you’ve listed as a priority. Then start working on your objectives so you can initiate accomplishing the long-term plan. Remember that you have a time set to accomplish your goals. It’s better to set things in motion as soon as your objectives are clear. Time management is vital for business success.
A Magic assistant makes your scheduling, digital calendar organizing, and administrative tasks managing easier. You’ll be able to facilitate the phases or developments of each department or team better via status updates that they can gather for you.
Canva aimed to acquire 15 million users and 300,000 paying customers within 10 years. To reach this goal, Canva focused on templates and functions with broad appeal, especially in digital marketing.
With this approach, they hit an important short-term goal: reaching 2 million users that they acquired within the first two years of their business. That’s roughly 3,600 signups per day or 111,111 signups each month.
They hit their long-term target three years early.
3. Monitor the progress of your long-term goals
After putting your plans into motion, you need to monitor the progress every three to six months. Your Magic assistant can document the progress using written and visual reports.
Remember: Written goals have higher chances of success than unwritten ones. It should keep you more focused on what to do so your goals come to fruition.
Ask your Magic assistants to prepare progress reports regularly. This way, you can see how things are coming along. Remember that long-term goals require extended periods of time to achieve. Look at the reports and make sure that they’re within the acceptable phases of your company goal. Plus, monitor it regularly to allow you to fine-tune strategies and methods to get better results.
Examples of Long-Term Business Goals
Here are ten long-term goal examples for businesses to use as benchmarks. They can also be used as startup business goals examples that can give you a better idea of what good goals are supposed to look like.
- Find ten new market platforms to launch company products within three years.
- Reduce production costs by 10% over the next four years.
- Increase overall brand awareness within two years.
- Expand company operations in another country in the next three years.
- Hire 150 new virtual assistants within two years.
- Create and market three new products within five years.
FAQs about Getting a Magic Assistant
Question: How are Magic assistants different from other VA services companies?
Magic employs a team of the top 5% of college-educated virtual assistants in the Philippines. They cater to all companies hiring virtual assistants, especially startups and small businesses that need help managing their administrative, data entry, research, and other tasks.
Magic prioritizes easy and seamless integration of hired Magic assistants and clients. We’ve provided tools that help you easily manage your virtual assistants and help them produce better results for you. What’s more, we’ve designed our VA services to enable you to add, replace, or lessen virtual assistants according to your business needs.
Magic assistants work hard to accomplish tasks assigned to them – however impossible though some may be. Check out our case studies on how we’ve helped accomplish for our clients.
Question: What if I want a Magic assistant long-term? Can this scale?
Magic assistants work for clients for however long they need them. So, hiring a Magic assistant long-term is definitely possible. In fact, you stand to benefit from this since they’ll learn your business processes well and contribute to it more productively.
Magic fully supports quick and easy integration. We understand the challenge that scaling presents to many small businesses and startups. So, we created a client portal that allows clients to integrate a Magic assistant – or more if need be – easily without disturbing your existing team.
Get various types of virtual assistants to help you actualize your long-term goals. Better still, allow a Magic assistant to help you be more organized and productive – starting with the effective setting of long-term business goals. Hire a Magic assistant today to handle your numerous virtual assistant tasks.
