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How To Write Your Business Goals

A major difference between running your own small business and being employed by someone else, is that you will have to learn to manage your own time. Organization and setting business goals is very important.

If you are not goal oriented, you can easily find yourself spending a lot of time doing a lot of nothing. Try to create and set weekly and daily business goals for yourself. You can then organize around these goals just like you would at any other job.

The power of setting business goals

Working out your business goals is the single most important thing you can do when you run a business.reaching your business goals

Now just to be clear, what are we really talking about here? We are talking about setting specific, measurable, achievable, results oriented, time bound targets and objectives.

Not fluffy statements like “be more profitable” but something that an independent observer could check and verify. For example: “Return 45% Net Profit by June 2013.”

You need specific goals that will act as your business’ scorecard for the year, a scorecard that allows you to make plans. Think of this as the blueprint to get results this year.

Effective goals help you:

  • Stay focused
  • Direct your plans
  • Focus your team’s efforts
  • Allow you to ditch what isn’t important

Here are a few suggestions to get you started:

Write down your business goals

Create and follow a clear and concise business plan. Keeping a business plan from the start can keep you on track in reaching your business goals, no matter what niche you may be following. Your business plan should be clear and with a direct focus that is easy to see through your many objectives.

A business plan is your road map to success; you need to know where you want your business to go. Some people think you only need to have a business plan if you are going to have investors, but a business plan will help keep you on track with your business goals.

Manage your time and priorities

This is important as it will allow the main operations to be completed efficiently and properly. This may sound to be obvious, but there are many that fail to realize time and priority management as such an essential practice.

Managing time and priorities ensures that you give your main operations the best focus and most efficient care possible.

Outline what your business goals are

Even though your business might be small, you still need to outline what your business goals are, what resources you need, and what methods you will use to reach your goal.

Every day write down a few things you want to accomplish and what you don’t finish, do it first the next day. This way you’ll be able to keep yourself on the right path.

Also, make use of any classes or tutorials available. Because you have a small business, you might not be able to afford to spend a lot of money upfront, but you can find local business classes to attend that will help you reach all of your business goals.  Learning can only help your business succeed.

 

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AIMS Accounting Service
22 Swindon Close
Lake Haven NSW 2263
Phone: 02 4392 8720

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