Make sure you have a good idea on when you would like those key hires to happen; whether it’s after your company hits a certain revenue amount or once a certain project takes off. These milestones act as "checkpoints" for your overall department objectives.
For instance, if you want to create a new app by the end of the year, product milestones you outline might include a beta roll out, testing, and various version releases.
Below are common milestones new businesses should plan for.
When you completed your Management Plan Worksheet in the previous course, you jotted down which key hires you needed right away and which could wait.
A few other market milestones to consider: Financial milestones are important for tracking business performance.
It's likely that a board of directors or investors will work with you on creating financial milestones.
Planning is key to any business throughout its existence.
Every successful business regularly reviews its business plan to ensure it continues to meet its needs.
It keeps everyone focused and is a good tracking method for efficiency.
For instance, if milestones aren’t being met, you'll know that it's time to re-evaluate your production process or consider new hires.