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Starting / Setting business goals

Are you setting successful business goals?

Any great entrepreneur or business owner knows that setting business goals is crucial for businesses to be highly successful. A good way is to set daily, weekly, monthly, quarterly and yearly goals.

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However lots of business owners think they can just keep running and see what happens. But once you start setting goals, life will appear to happen more in the way you want it. Also, clearly defined goals will help to increase your level of motivation. 

I set my own goals in my business and plan for the future, which is really exciting. The goals need to be reviewed on a regular basis and I know exactly what I need to do each week and each month to achieve those goals. Without setting business goals, I wouldn’t have as much motivation and then the business would just probably just fail. 

Tips for setting business goals

This is not actually as daunting as you may expect. First you need to decide what you want from your business. Do you want to make a good living from it, or do you want more than that? Make sure you are totally honest with yourself. 

Both short and long term goals are important, even setting personal goals for your life will help you with your business and keep you on track. Goals enable you to see where you are going and give some sense of direction.  

"Once you start setting goals, life will appear to happen more in the way you want it."

In setting business goals lets look at the SMART goals which is an acronym of the five steps of goal setting which are: Specific, Measurable, Attainable, Relevant and Time based. 

Want more articles like this? Check out the setting business goals section.

When writing your goals use positive language that is: 

Specific: be specific in what you want, identify the short and long term goals both quantitative and qualitative and make sure you put them in writing with specific time frames. 

Measurable: have them so you can compare them with your actual results.  You need to be able to establish if you were able to meet the specific goals. 

Achievable: set goals that you can realistically achieve, avoid being over optimistic. Set them too high and you will likely burn out. 

Realistic: make sure your goals are realistic and achievable. Don’t be over specific, but make sure they are still challenging. 

Time based: have a deadline using a specific time frame in which to achieve your specific goals. 

Overall you must be realistic and have some flexibility with your goals, and be committed to reviewing them regularly as you will find that your goals will change as you move forward.

How has goal setting assisted your business? Share your thoughts on setting business goals below.

Monique Bock

is a Financial Accountant with Jet Bookkeeping and is passionate about helping small businesses become more organised with their books and enjoys showing them how to read valuable information from their monthly accounts.

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