How to Set (and Achieve) Your Company’s Financial Growth Goals

Financial Growth Goals CFO

Setting and achieving financial growth goals is essential for any business that wants to chart a path to long-term success. But without a clear plan, companies can quickly find themselves facing financial issues and struggling to make ends meet. As a leader, how do you actually work towards these goals, and go about bringing your vision to fruition?

In this article, we’ll discuss how to set (and achieve) financial growth goals for your company. From setting realistic financial targets, developing a roadmap for achievement, and measuring progress along the way, there are many tools that can be put in place. With an effective plan, businesses can ensure that they reach their financial goals and achieve their long-term strategic objectives.

Define Success for Your Company

Before you can achieve financial success, you must first define it. But what is financial success? In truth, the definition of success varies from company to company, and is dependent on the individual goals and objectives set by the executive leadership team. 

Here are some of many examples of what financial success could look like:

  • increased revenue
  • greater profits
  • reduced expenses
  • maximized cash flow
  • expanded market share
  • more access to financing options

Regardless of what success means to you in this stage of your company’s growth, crafting your own definition is key when it comes to setting financial goals for your business. By developing a vision and understanding what success looks like within your organization, you will have much-needed clarity as your company grows.

Having an aim to measure progress against is critical to moving the needle forward. But beyond numbers and data points, developing a clear vision for the future – and sharing it with your team – is also likely to result in increased employee productivity and morale.

Financial Growth Goals

Set Achievable Goals

Once you have solidified an overarching vision for success, you can begin to develop the roadmap to get you there. This begins by setting both short-term and long-term goals to help guide your path. 

In setting goals for the months, quarters, and years to come, it is critical to ensure that you are setting targets that are both relevant and achievable, with a realistic timeline and doable results.

While setting benchmarks is key, so is allotting regular time to review progress and make adjustments as necessary. At Blueprint CFO, we recommend having routine monthly financial meetings with key players. This helps hold your team accountable, address any notable issues observed within the financial and/or operational data, and allow the team to actively recommit to your vision for success.

Measure Your Progress

Data is key to objectively understanding where your business stands financially and operationally. But when you are bombarded with a ton of data, it can be difficult to sift through the numbers and understand what matters, and what doesn’t.

Defining success is one thing, but understanding how close you are to achieving it is another. In order to achieve the latter, you must link your definition of success to relevant Key Performance Indicators (KPIs).

KPIs – or quantifiable metrics that reflect progress towards business objectives – can serve a number of functions. They can…

  • give you a current snapshot of how you are performing in key areas
  • provide insight to help you identify trends over time 
  • showcase strengths and areas of improvement

In summary, key performance indicators can help you take your definition of success and define the driving metrics behind it. With a microscope on these data points, you can make tweaks and strategic adjustments that have the potential to make a huge impact on your business. 

With data-driven insights in hand, along with a personal definition for success and a roadmap to achieve it, your company can turn hypothetical hopes into attainable plans and achieve your best financial year(s) yet.

Looking for a profitability partner as you work towards your company’s growth goals? Our rockstar team of fractional CFOs and accountants at Blueprint CFO can help. Reach out today!

Valuation Planning

Blueprint CFO will work with executive leadership to determine shareholder value, and run various models to determine estimated company valuation. Together, we will determine milestone objectives to increase shareholder value and track company performance in relation to these targets. We will review your company’s organic and acquisition growth options to create shareholder value, and emphasize tax planning to optimize shareholder value upon a sale or purchase. We can also focus on Initial Public Offering (IPO) Planning and Readiness.

Analytics & Business Intelligence

We believe that being data-driven is key to profitability. As such, we can help you create meaningful dashboards and scorecards for your business, analyzing performance against key performance indicators and other factors. Our profitability reporting and analysis tools will help drive business decision-making and provide insights into trends, predictions, results, and potential strategic direction moving forward.

Goal Setting & Tracking

Our team can partner with company leadership to establish goals and objectives for the company, for both the short and long term. Additionally, we will help leaders develop meaningful Key Performance Indicators (KPIs) to track and measure results.

Insurance & Tax Planning

Blueprint CFO can work with businesses to review insurance needs and requirements, as well as plan for taxes and R&D credits.

Human Resources

We can assist your HR department with employee benefits planning, and can also perform compensation studies to ensure best practices are implemented across the business.

Accounting & Finance Support

Whether you have an internal team in place or need more hands-on assistance, Blueprint CFO can oversee and advise your accounting and finance department. From preparing general ledger transaction entries to completing month-end closes, forecasting to crafting financial statements, developing customized reporting packages to implementing more effective software, Blueprint CFO can bring you everything from a supportive junior or senior accounting team, all the way to high-level strategic CFO consulting.

Mergers & Acquisitions

Blueprint CFO can partner with company leadership to improve strategic business plans and assist with the development of organizational growth strategy. We can also create financial reporting packages and proformas for capital raises, investments, acquisitions and/or banking requirements, and provide due diligence on company-focused deals.

Financial Planning

We can prepare, create and/or review financial statements. This includes providing trend analysis, developing cash flow projections, and tracking operational and financial performance, with insight into budget and forecast variances.

Banking Services

Our team can help your company to establish high-level banking relationships, and offer expert advice and support when it comes to sourcing bank loans, etc. Additionally, we can review and determine the optimal capital structure for refinancing or a liquidity event.


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