Creating yearly goals for your small business is important. But did you know that most companies never reach them?
In fact, just 5% of small businesses have achieved all their goals in the past 12 months. This was the finding of a new survey report from Clutch titled ‘5 Strategy Development Tips for Small Businesses in 2020.’
The survey interviewed 502 small businesses owners to find out more about their strategic planning processes. The businesses operated in a range of industries.
Just 5% of Small Business Achieve All Their Yearly Goals
It found that almost 65% of small business owners met more than half of their objectives during the last 12 months. Only 5% achieved all their goals.
The research unveiled three businesses area where more than a third of businesses had created a process strategy. 46% of small business owners said they have a sales strategy in place. 41% of participants admit to having had a clear marketing and advertising strategy. 36% of businesses say that in the last 12 months they had had a customer service strategy n place.
Small Business Confidence in Carrying Out Business Plans
The survey also looked at small businesses’ confidence in carrying out business plans. 77% of small business owners said they are confident in their