Why Does Setting Goals Matter?

Why Does Setting Goals Matter?
April 28, 2021 TMIC

We often hear about the importance of setting goals. What we rarely hear about is the reason why this is important in the first place. After all, why don’t we simply reward people for completing tasks? When the rest of the company is already following higher-level business objectives, why do we even bother with goals at all?

The short answer is that goal setting leads to better performance. It’s all about short-term motivation and long-term vision. Goals allow us to take stock of where we are and where we want to be. Here are three simple reasons why goal setting will improve your business today.


Intrinsic motivation
Intrinsic motivation is when we feel the need to do something without any external incentives such as a reward or a deadline. Goal setting provides this motivation. We want to complete a task simply because of the sense of satisfaction and accomplishment we feel when we’ve reached our goal. On top of this, intrinsic motivation is also the most effective form of motivation. It cultivates deeper learning and encourages good habits.

Better performance
As mentioned, we work more productively when we are motivated by intrinsic factors such as goal setting. In his Ted Talk, Dan Pink discusses how goal-based motivation increases performance by encouraging autonomy. Companies such as Google and Microsoft have found that their employees are faster at completing tasks when they have clear goals coupled with more control over their schedules, assignments, and responsibilities.

Goals help us to work together to achieve a common purpose. This is because goals provide a sense of direction – everyone is on the same page about where they are and what they want to achieve. With a goal in sight, our work also takes on more meaning. We are encouraged to think about the purpose behind what we do and how it all ties into the bigger picture.

How we can help
Here, at The Market Intelligence Co., we collect data which we turn into insights that will help you to improve and grow your service. This will also help you to set goals that are both achievable and productive. Even though our data is grounded in the present, it can also be used to predict future trends and scenarios. It will allow you to take stock of where you are, what you want to change, and determine the future plans for your business.

Need help? Get in touch!
Setting goals does not need to be difficult. At The Market Intelligence Co. we love to work with businesses to help them set (and reach!) their goals. Get in touch with us today, we’re here to help.