Our Recent Posts

Archive

Tags

No tags yet.

Goal setting and strategic planning


Goal setting and strategic planning

Whether you are starting a new taxi business, or currently operate an existing firm, it is essential that you set goals and devise a strategy to help you achieve your goals. It is highly likely that you have a reason for running a taxi business, whether to provide an income, a job that provides a good work-life balance, or an opportunity for autonomy. But without a purpose, your business will inevitably fail. Determining goals and a strategy does not need to be overly complicated, but you should consider why you are doing what you are doing, and how you can achieve your long-term ambitions.

Setting goals

Setting goals is important because it informs and guides the direction of your business and the decisions you make. Goals allow you to focus, but they must be achievable. If they are too tough you will find you stop pursuing them and lose focus. However, they should suitably ambitious to challenge you to improve and not get stuck doing the same thing each day. The environment around you will be constantly changing, whether your customers, competitors or the legal framework within which you operate. If your goals are too easily achieved you may find you’re not pushing yourself or appropriately focusing, which may lead longer-term to problems if you lose touch with your customers or fail to anticipate and adapt to the changing environment.

Strategy

With realistic goals determined, strategy involves devising and implementing a plan of action to achieve the goals you have set. You must decide how your goals will be achieved, allowing you to focus your efforts towards achieving them. If your goal is income-related, a starting point is to break-down what is required to achieve the desired level of income. For example, you could perhaps consider how many jobs you’d need to complete within a given time period, then how you might get those jobs. Indeed, you may discover that a goal is not realistic, prompting you to take alternative action, such a hiring another driver, increasing your prices or expending your area. You may determine that if your goal is simply unachievable, that an alternative goal should be pursued, or that alternative employment opportunities may be more appropriate. Either way, strategy is about working out how you get from where you are currently to where you want to be.

Reflection

Regular objective reflection is essential to ensure that you are on track to achieving your goals. You should build processes that keep you in check. They don’t have to be overly formal or complicated, perhaps a monthly review to consider what you are doing well and what you could be doing better to pursue your goals. It’s worth considering whether your goals are still relevant or whether you should adopt new goals. Remember, goals are not just financial. As a taxi driver you should also reflect on whether you are achieving your lifestyle ambitions, whether what you are doing is likely to lead to goal success.

#planning #pricing #taxi #driver

Taxie® by Trafold®

info@trafold.co.uk

London, U.K

©2020 by Trafold®