In the October 2019 Snapshot Survey, we asked contractors about how they set, measure, and achieve long-term business goals to help you understand how you might incorporate goal setting into your business operations. Here's one survey question and its results from the summary report, which will be available in its entirety to EGIA members on 11/11/19.
Question: Do you have long-term business goals?
Whether you're just starting your contracting journey or you're looking to take your business nationwide, you need to have a travel plan. Long-term business goals can help you create a roadmap that outlines your pitstops, tells you when to refuel, and guides you to your desired destination. According to the home services professionals that took our survey, 96% of contracting companies have long-term business goals, whereas 4% do not.
Here's what an HVAC contractor from Nevada has to say:
“We have long term sales and profit growth projections. We have broken those down into some major KPIs that will take us there. We have some clear goals written for everyone to see and are constantly talking about where we are on our KPIs.”
It can feel counterintuitive to take time away from an already overwhelming schedule to create a plan but setting goals doesn't have to be complex. EGIA has created vast resources to help you set and reach your long-term business goals - visit the EGIA Best Practices Library to access these valuable tools.
Login to access the full research report on Long-Term Business Goals.