Sales Goals 2021
Sales Goals 2021
Do you have a sales goal for 2021?
Do you set monthly sales targets and do they relate to your overall sales goal for the year?
Goal setting is a helpful way to build the business you want and will help you improve performance in 2021. Without goals, it can be difficult to determine how to improve and grow your business.
Many business owners I have met do not have monthly/annual goals (an ambition) or targets (markers to keep you on track). Some retailers and makers tell me that they are far too busy to sit down and plan ahead and some are honest and say they do not understand how to come up with figures.
You have to take time out of working IN your business in order to work ON it. You will never improve or grow if you do not stop and take a strategic look at what’s going on.
Having a sales target is a vital part of running your business:
- It will help motivate you and your team
- It will help you plan ahead
- It is a tangible metric for your business’s performance.
You will need to break down your sales target and set smaller objectives which will form a clear plan for how you will reach you intended goal. You will need to decide how to apply your time and resources to make progress. It will impact productivity, stock holding and even how and when you buy stock or raw materials.
Normally, you would start by looking at last year’s numbers, but as 2020 was not ‘normal’ look back at 2019 too. Use the previous sales as a starting point, but remember that some dates will differ such as Easter or bank holiday weekends. Then consider any special dates or events for your business; maybe your product sells well in the run up to Valentine’s Day or maybe your town is really busy during a particular festival. For Christmas, look at October, November and December as a whole as there may be a pattern for your particular business.
So, will you be happy if your 2021 figures match 2020? With a few small changes could you set a growth target?
What ever you decide, you should share the headline figures with your team because without their input you will not achieve your goal.
Then start brainstorming! What actions will you all need to take to smash your 2021 target; do you have to buy differently, buy earlier, buy more of some hotlines. Do you need to boost your social media at certain times to drive people to your website or store? Would a fun incentive boost sales; which team member can sell the most XXX or which team member can achieve the most items per sale? The list of ideas to boost sales is endless!
- Set your 2021 by looking back at your sales history
- Break your 2021 goal by months
- Break the month up by weeks
- Decide the steps you will need to take to achieve your targets and smash your goals.