by Brigette Mashile, founder and ceo of Roka Roko
Did you have targets for 2017? I remember sitting with my friend, who is an accountant; feeling very silly making goals for 2017. I was wondering how am I going to achieve these crazy numbers? And what is the guarantee that we can have such numbers? Anyway, my friend had more faith in this business and less fear than me. So, we did revenue, expenses, monthly and weekly budgets for 2017.
I proceeded to write that top line number everywhere. On tables in permanent markers, in my ‘life goals’ list for 2017, and in my speech when I was asked about my targets for the year. All the while, I had no clue how we would achieve it. And so, the year continued with me knowing the top line number, believing it and speaking it all the time. But never really worrying about it. I decided to just work, work, and work more. Take each opportunity as it came and tackle it with all my might.
At the end of November, I discovered that we were already over the target sales planned for 2017. It was a busy time, so I did not think of it critically. I just continued to work and work more. Early January, I finally have the December numbers and voila, we are over our targets. I think about it and it makes sense, 2017 was hectic. I create a report for myself to review what we have done, and it is amazing of course; the number of normal orders, bridal party orders, actual monies paid to us, etc. It has been a massive year.
Then, of course I start asking critical questions:
1. Were we too modest in our targets? Possible. But makes sense. And more fun, it is so great to under-plan and over achieve…right? This is the side of my brain that challenged my 96% exam marks in high school…like where is the 4 % Brigette? If you can get 96…obviously 100 is not far. I love this side of my brain because it seems to believe in my potential a lot more than my entire self does. If you are like me and under plan, because you are simply scared of being over confident; its ok. We must just not repeat these habits.
2. If our target was reasonable, what did we do to achieve the target? This is where that advise about recording is necessary. It is so important that when you sit with your report you can remember all the ‘things’ you did to achieve success. Because, herein lies the basis of your 2018 strategy, which you will just amend to suit 2018’s targets. If you fail to remember, you will spend a lot of time creating a new strategy every single year…unsure if it will work each time…but investing resources into it.
3. What was the growth from 2016 to 2017; and can we apply it to 2017-2018 growth? Or should the growth also grow a bit? This decision will be supported by the answers in no.2. Based on the strategies(plans) for 2018, motivated by actions in 2017, what growth can we plan for 2018? It is always best to apply growth to every sales target at the beginning of each year. But it is even better to have a plan to support this growth.
They say: ‘if you fail to plan, you plan to fail’; it is best you plan. You do not have to have the detailed plan, but is important to have a number in mind you are working towards. It is important to have a goal you are working towards. Operating without targets goes against building a profitable company, as you will never know whether you are doing well, bad or how to correct yourself.
Brigette Mashile is the founder and creative force behind Roka Roko, a custom fashion design business based in Johannesburg, South Africa. The company passionately delivers quality tailored and trendy fashion to make their customers happy, and specializes in styling women by creating unusual combinations with fabric, culture and style. Brigette has a Bachelor of Commerce degree from the University of Witwatersrand and a Fashion Diploma from Studio5 School of Fashion. She’s a former fashion buyer for a major retailer in South Africa, and an international direct selling company. She’s been passionate about fashion since the age of 10 and gained invaluable experience in the fashion world running informal fashion creation businesses until the day her own Roka Roko brand was born. Find out more by visiting the Roka Roko website www.rokaroko.co.za
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