Its important when we start our own business to know what our goal is. We might be looking to replace an income, sometimes we just want to do something we love and something that feels like it’s just for us.
No matter what the reason, the most important thing is to know what the goal is.
Setting goals helps us achieve what we are setting out to do. It could motivate us to strive further or even excel beyond those goals. At times we reach our goals and then set new ones.
Some of you might be thinking, I don’t need a goal, I’ll just follow each day and see what happens, but with this method, the new business is destined to take a long time to gain traction and even longer to supply a return to the budding entrepreneur.
Think about this aspect for a moment, without a goal, no target and no plan, where is the business going? What is it going to achieve? What’s it looks like in 1 year, 3 years, 5 years. What is the financial impact during this time?
Now, there are times when we are doing something as a hobby, in these circumstances, we are happy to ride the wave of organic progression. These are awesome examples of no goals and no expectations. I love hearing about these situations and understanding the passion behind the vision. Its refreshing to know that some people’s business ideas are just about helping others, or giving themselves something to do and also gaining self, both internal or external education along the way.
Which also reminds me of hiring staff, I have often seen those who operated their own business apply for positions over the years and they rise to the top of my resume pile as most look at their position with completely different eyes to your normal applicant. Most entrepreneurs that have run their own business know exactly what it takes and how small pieces of the business puzzle can impact the bigger picture. They will treat your business like it is their own and understand the ramifications of under performance more than your average employee.
So, back to this topic, sorry I often interrupt myself.
Its very common in small business to change your goals too. Sometimes we start the business with a very clear idea of what we want and where we want the business to go. But sometimes this need to change. Our original plan could be impacted by an event, or it could even be a reaction we get from a customer or we see another trend in our field.
I have always thought, if you don’t like change, you won’t like running your own business. And if you do run your business and don’t make changes, the market you are in will potentially leave you behind.
This is of course subject to many factors, including unique business models. But these can also fall into the trap of not changing, because something that is unique today, will not be for long, someone else is always going to jump on your band wagon and look to be your competition.
Which leads me to my next point. Competition can change our goals. You might have started with the goal of getting 20 clients on board, and then you find a competitor in your industry that’s offering a better deal to clients, this can be a goal changer for you.
You might have the goal of having 100 users on your website each month, but then google changes the search engine algorithm and you see your traffic slow and you need to change the goal for your audience reach or how to reach that audience.
The biggest and smallest things in business can be a goal, there is no limit to setting these from the start or during running a small business.
Businesses set goals for so many things. Targets is another word commonly used. Some of us build our business on the original business plan and this is highly recommended at the beginning. This can then branch into our mission statement, vision, targets and goals for the business.
So, what is your business goal? Whether you are starting a business now or plan to, or even if you started your business 10 years ago, no matter which the case, its never too late to set the goals or reset your goals.