5 Tips for Setting Financial Goals That Drive Business Growth

Date
April 14, 2025
Reading Time
4 minute read

For smaller business entities like startups and small-to-medium enterprises (SMEs), growth doesn’t just happen by chance. Most of the time, it’s the result of careful planning, execution, and adaptability. If you’re an entrepreneur running one such company, you’ll need to set smart financial goals to steer your business toward success. These goals serve as a roadmap that guides your decisions and helps you direct your resources toward what truly matters.

Yet, you can expect that your small business will face hurdles when trying to define and achieve these goals. Your team may struggle to manage limited resources, keep up with market changes, or simply figure out where to start—and these challenges can make the process feel like an uphill climb. Rest assured, however, that a dependable partner can often be just what you need to weather the storm. At Maya Business, we work with countless SMEs and startups, and we’re more than happy to give you the tools and insights you need to work toward your goals.

Let’s walk through some expert tips on how to set financial goals that not only support your business but also fuel its growth.

1. Use the SMART Framework

Vague goals often lead to unclear outcomes. A structured approach, on the other hand, can work wonders. Apply the SMART framework—Specific, Measurable, Achievable, Relevant, and Time-bound—to ensure your goals are both clear and actionable. For instance, instead of a generic target like “increase revenue,” a SMART goal could be “boost monthly revenue by 20% within six months through strategic partnerships.” Notice that this second goal is clearer, more focused, and gives you a solid foundation for tracking your progress.

2. Leverage Technology

Technology plays a pivotal role in helping modern businesses reach the levels of operational efficiency they need to succeed. There’s a wealth of solutions to choose from these days, from financial management software and automation tools to business banking products. Choose the ones that best meet your needs and you’ll find that they’ll help you save time, reduce errors and inefficiencies, and even gain valuable insights into your operations.

If you haven’t yet made the decision to take your business banking online, you should know that there are plenty of benefits to doing so. Digital banking platforms allow you to manage your finances in your own time, without depending on branch visits or limited operating hours. They also tend to offer more innovative products and services than traditional institutions that have more competitive interest rates. Maya Business Deposit from Maya, for instance, is an online business banking solution that comes with a highly competitive 2.5% per annum interest rate. This means that your idle funds won’t just be sitting in a low-yield deposit account—they’ll be growing right along with your business.

3. Prioritize Cash Flow Management

Achieving efficient cash flow management isn’t the most glamorous thing about doing business but it’s the one that sets the stage for anything else your business aims to achieve financially. A strong focus on cash flow management will help you avoid the pitfalls of overextension and keep you agile in a competitive market. In more concrete terms, it helps to maintain a steady cash flow for meeting operational needs, covering unexpected expenses, and, yes, taking advantage of growth opportunities as they arise.

With Maya Business Deposit, you’ll gain an effective way to achieve this balance. For one, using this solution means you’ll be earning interest on funds while also keeping them accessible for day-to-day needs, so you won’t have to choose between liquidity and growth. Your account also has no minimum balance requirements and free transfers, so you can move money as needed without worrying about penalties and transaction fees, which can quickly add up.

4. Set Short-, Medium-, and Long-Term Goals

It’s unlikely your business will achieve the growth you desire if your goals only ever stay within one timeframe. A combination of short-, medium-, and long-term goals will allow you to strike a balance between addressing the needs you face today and setting your business up for success further down the line.

Short-term goals, such as reducing overhead costs, usually pertain to overcoming immediate challenges or seizing opportunities that are already close at hand. Medium-term objectives, like expanding your customer base, serve as stepping stones to larger achievements. Long-term goals, like becoming a leader in your niche or industry, might give your business a broader vision to work toward. With a healthy mix of these three, you can make steady progress while staying aligned with your ultimate aspirations.

5. Align Financial Goals with Broader Business Objectives

Every financial goal should directly support your business’s larger strategic objectives. For instance, if your primary aim is to grow your market share in the community in which you operate, you might allocate funds to a comprehensive marketing campaign or invest in technology to improve customer experience. A well-aligned financial strategy will become a tool that drives your broader vision rather than a separate task to manage.

Make Maya Business Your Partner on the Road to Growth

Digital solutions provided by companies like Maya Business make it possible for small businesses to pursue growth opportunities that might otherwise have been out of reach. Sign up for Maya Business to take advantage of our suite of financial management products, which include online payment, business banking, and disbursement solutions. 

Opening your Maya Business account will let you set up a Maya Business Deposit account and use it as your settlement account. With an industry-leading 2.5% per annum interest rate, you’ll earn PHP 25,000 in interest per year on a PHP 1 million deposit. You’ll also get to send money to your partners and suppliers for free via InstaPay and PESONet, which means more savings and fewer fees to worry about. 

Signing up also qualifies you for a no-collateral Maya Flexi Loan offer of up to PHP 2 million in just 3 months—that’s another helpful funding source you can use to grow your business even more. Just use Maya as your primary processor for all wallet and card payments. The more you use our solutions, the better the loan offer will be. 

Sign up for Maya Business today to enjoy the benefits of Maya Business solutions.