Even with an established business, owners must constantly set goals in order to elevate their overall productivity and profit. As the end of the year nears and everyone is settling in for the freshness of the New Year, business owners will greatly benefit when they set goals for their company during this time. Below you will find seven suggestions on the type of goals a business may consider:

1. More Efficient Delegation

When a business owner learns how to efficiently delegate tasks, overall results are much better. This is especially true when a small business owner feels the need to take on much more than they have to. In the end, they become tired, frustrated, and stressed. It is also OK to let someone else take control over the tasks owners feel they "need" to accomplish, which is part of the beauty of being in charge.

2. Business Promotion

Many small businesses fall into the pitfall of neglecting aggressive advertising and marketing. Business promotion is key for bringing in new customers, which in turn increasing overall profits. Learning how to create efficient marketing plans is a great way to bring in the New Year.

3. Weekly Business Planning

In order to foster a prosperous business, instead of doing monthly and yearly assessments, try planning on a weekly basis. This will not only help business owners find better ways on boosting productivity, but also helps in brainstorming more effective ways on how to improve a company.

4. Expand Company Knowledge

When businesses are able to learn something new on a regular basis, they are more equipped to elevate the status of their company. Enhancing the skills of not only business executives, but also the entire staff will only translate into more desirable results in the long run. It is suggested to encourage employees to seek out self-improvement and personal development by attending seminars and taking e–courses. This simple motivation given by an employer helps to increase the overall productivity and creativity within an office.

5. Consider Business Networking

Sometimes, thinking outside of the box means seeking out new business associations and networking groups in order to cultivate new thoughts and ideas, as well as finding allies within the same industry. Many business owners are able to locate and make these types of contacts over the Internet.

6. Time Management

Calendars aren't just pretty decorations for the wall – they aid employees and business owners in keeping track of the day-to-day, weekly, and monthly assignments that boost a company and makes business ventures a success. Today, there are many different tools and resources that allow a person to keep on task, including palm pilots and advanced cell phone features.

7. Setting Realistic Goals

When setting goals for business, it is important to keep expectations realistic, which is the best way to reach success instead of suffering a stressful journey towards achievement. The goals set for the next year should be attainable, which aids in creating the best environment for accomplishing objectives. For example, if your company made $75,000 in its first year, it is probably unrealistic to shoot for exceeding the $1 million mark for the next.