How to Set Targets That Actually Move Your Family Business Forward

Most family business owners set targets by looking at last year's numbers, picking a percentage increase, and getting on with it, and here's why that almost never works the way it shouldIn this episode, Mark and Caroline make the case for a completely different approach to target setting. One that starts with vision instead of figures, includes your whole team instead of just your sales department, and measures things that actually matter to the people inside your business.They get into why financial targets alone are not enough, what Ford Motor Company's dramatic turnaround teaches us about culture and performance, and what a plumber, an accountant, and a receptionist all have in common when it comes to setting meaningful goals.The way you think about targets is going to shift. And once it does, you'll never look at the end of financial year planning the same way again.The businesses that hit their targets aren't the ones with the biggest numbers on the whiteboard. They're the ones who know why those numbers matter, who's working toward them, and what it actually feels like to get there.That's what this episode gives you. And it's a much better place to start than a spreadsheet.In today's podcast you’ll discover:01:17 - Why starting with numbers is the wrong way to set targets (and what to start with instead)02:29 - What happens to performance when you share your vision with your team04:25 - Why every single person in your business needs a target, not just your sales team06:20 - A story on why financial targets can't be the only thing you measure07:29 - Simple metrics that tell you more about your business than your profit and loss ever will10:14 - What really drives performance, retention, and growth all at once12:39 - How the score takes care of itself when you focus on the right things first13:23 - What to sit down and map out right now as you head into a new financial year----------About the Families in Business Podcast The Families in Business podcast is for family business owners who want to grow a thriving business together, without sacrificing the relationships that matter most. Each week, Mark and Caroline Creedon bring you honest conversations about the real challenges and opportunities that come with running a business as a family - from scaling and systems, to succession planning, to making sure the business serves your life and not the other way around. Whether you're in the early growth phase or thinking about passing the business on to the next generation, this podcast will give you practical strategies and a fresh perspective on the family business journey. ----------About Your Hosts Mark and Caroline Creedon are business coaches with over three decades of hands-on experience helping Australian business owners build companies that give them more time, money and freedom. They understand the unique dynamics of running a business with family - because they live it themselves. ----------Subscribe for More New episodes drop every week. Subscribe so you never miss practical advice on growing your family business, planning for the future, and building something that lasts. ----------Enjoyed this episode? If this episode resonated with you, please leave a comment or review. It helps other family business owners find the show and join the conversation.