12.18.20

Resetting goals & accountability in crisis

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The pandemic forced most businesses to change the way they operate; here are ways to reset and maintain accountability for new goals.

Goal setting helps businesses succeed and grow because it makes priorities clear to everyone on the team, even a team of one. In 2020, the COVID-19 pandemic forced most businesses to change how they operate, and now they must adapt to a new market. Here are three things to keep in mind when resetting goals, and two ways to stay accountable individually and as a team.

Reset according to the new reality

The same health crisis that decimated some businesses has been a boon for others. Either way, business managers need to reset goals according to the new reality.

When the pandemic first hit, temporary fixes were quickly put into place. Now, it’s time to reevaluate business activities and adapt from responding to recovery.

Revisit every facet of the business

With a clear view of the new reality, the next step is to identify what you need going forward. Questions like these will guide the way:

  • What’s needed to cover essential products and services?
  • What areas need be strengthened?
  • Are costs and income in line with projections?
  • Which resources can be reassigned?
  • How has our supply chain changed?
  • Is it time to rehire?

Regroup and adapt

Answers to the questions above will be different for every business. What’s required next is to regroup and adapt. Develop a new plan using the information you gathered, as well as by seeking counsel from people you trust inside and outside your organization.

The new plan may require letting go of some activities or goals. Letting go might be hard for you or your team. However, doing so creates time and space for new areas of growth.

Keep yourself and your team accountable

Adapting to new priorities, new goals, new processes and even new lines of business requires change. As creatures of habit, this change can be difficult. One thing that can help navigate the uncharted waters of change is accountability.

For yourself, a trusted accountability partner or mastermind group can provide valuable support. Choose an individual or group with the courage to tell you the truth and the ability to encourage you along the way.

With your team, make the new goals and priorities clear. Break big goals into smaller steps. Set timelines for accomplishing those goals. Also, set times for checking on progress toward these goals.

With your accountability partner and your team, written goals and commitment to regular communication are key.

For a deeper dive into goals, adaptability and accountability, check out Harvard Business Review’s How to Reset Your Goals During a Crisis and Inc.’s five steps to an effective accountability partnership.

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Consumers business services

Do you have business banking questions? Contact our knowledgeable business development managers.

Learn more

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