Why Most Business Goals Fail and What to Do Instead

Business success isn't so much about making goals. It's about achieving them. 

Each business owner has objectives—greater revenue, new markets, greater efficiency. And yet, the majority of objectives never come to fruition. A study by the University of Scranton discovered that 92% of individuals do not meet their objectives. In business, a study by the Harvard Business Review indicates that most strategic efforts fail because of imprecise planning, ineffective execution, and lack of adjustment.

This is a crucial question: If nearly everybody makes goals, why are so few successful? The response isn't merely about willpower or motivation. It's about recognising the true drivers of progress—and creating goals that drive action.

The Problem with Traditional Goal-Setting

The majority of entrepreneurs tackle goal-making with the belief that putting it in writing somehow ensures it is a reality. But making the goal and having it happen are two entirely disparate processes.

Many goals fail for the simple reason that they're too general. "Grow the business" or "increase revenues" are wonderful-sounding goals with no direction as to how that's going to get done. If there isn't specificity, it's impossible to measure and assess progress and ultimately success.

Another issue is that most goals are outcome-based, rather than process-based. A company may have a goal to achieve £1 million in turnover without specifying the actions needed to achieve it. Goals need to be based on things that can be controlled, not outcomes.

Then there is the issue of accountability. If a goal is established but never checked in on, it quickly becomes forgotten in the routine. Most entrepreneurs set goals at the start of the year but don't look at them until it's too late. Without ongoing monitoring, even the most well-planned strategies disintegrate.

Lastly, goals don't work because they are too rigid. Market conditions shift, customer tastes change, and internal obstacles emerge. Holding on to a plan that no longer applies is as harmful as having no plan.

A Better Approach: Setting Goals That Work

Business success is not about having more ambitious goals. It's about organising them so that they produce execution and results. The best companies have a process that transforms goals into actual action.

First, objectives need to be well-defined and quantifiable. Rather than having a goal of "increase revenue," a more useful goal would be "increase monthly revenue by 20% within the next six months by introducing a fresh marketing strategy." This is easier to monitor and make changes to where necessary.

Second, goals must be process-oriented, not outcome-oriented. Rather than creating a goal to "acquire 100 new customers," a better strategy would be to create daily or weekly habits that result in that end—like sending 10 prospecting emails daily or enhancing website conversion rates. The best business leaders concentrate on what they can influence.

Dividing big goals into small, manageable steps is another secret to success. Big goals are too much to handle and make people do nothing. However, by breaking a goal into quarterly, monthly, and weekly goals, business owners can remain on track without being overwhelmed.

Monitoring progress is crucial. Goals which are not measured won't get done. The most successful companies examine their most important metrics at least once a week, making changes as needed. Most have regular meetings to gauge progress, keeping goals top of mind rather than as an afterthought.

Finally, the most effective goal-setters understand the importance of adaptability. They recognise that business is dynamic and that plans must evolve. If a strategy isn’t working, they pivot rather than stubbornly sticking to a failing plan. A goal should provide direction, but flexibility is what keeps it achievable.

The Key Difference Between Success and Failure

What distinguishes companies that reach their objectives from those that don't? Not luck. Not even resources. Execution.

Top business leaders set objectives that lead to action. They make them explicit. They divide them into steps. They monitor progress. They adjust as necessary.

They don't set targets and pray. They construct systems that ensure success. Rather than saying, "We want to grow." They say, "Here's exactly how we will grow." Rather than making goals and then forgetting them, they check their progress regularly. Rather than waiting for outcomes, they work on things they can control. This is why most business goals fail—and some succeed despite of challenges.

Set Actionable and Realistic Goals

Goals by themselves don't bring about success. Action does.

Most entrepreneurs establish high goals, but few of them translate into actual outcomes. The difference is in the design, monitoring, and evolution of those goals over time.

If your business objectives continue to fail, the issue isn't that you're not being motivated. The issue is probably the way you're establishing those objectives in the first place.

Make them specific. Make them measurable. Make them part of a system that guarantees follow-through.

Success is not about goal setting. It's about setting the right goals—the ones that actually get done.