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Rainman
02-04-2014, 04:13 AM
Most business people have no clearly defined goals as regards what they want to get from their business. Some just embrace the abstract idea that they're in business to make money. Is that all a business man should focus on? Much as that would be the ultimate goal, aren't there steps which have to be followed before you get to that?

What goals should a newb in the business world set and attain first before sitting back to watch the profits from his business roll in?

Taru
03-05-2014, 03:37 AM
I think it's extremely important for anyone looking into getting into business to have realistic goals. However, some people do just get lucky and get rich and successful off of their business without having to worry much, I have to admit. Still, if you are to rely on anything other than luck, then having long term goals that you can dissect and divide into small more manageable goals is key to achieving success in business, in my opinion, for you really can't reach a goal if you don't at least determine what said goal is at first. I think navigating a business blindly is highly impractical, to be honest, but like I said, it's not unheard of that such a thing would work, but at the same time it's also not very wise to just rely on luck.

mikelouis
03-05-2014, 03:43 AM
I think goals are normally defined in the business plan. You have to use them as a guideline to run your business. They act as business blueprints as some may call it. If you have a goal in mind, it will motivate you to go for it at all means.

janineaa
03-09-2014, 10:53 AM
I don't think goals are just an abstract idea and it's just the need to make money. Business people make goals based on their business plans and projected financial statements. There has to be a specific growth percentage every couple of months or years.

JohnSword
03-10-2014, 03:08 AM
Some business owners feel they should be moving forward, but are not clear exactly where or how. Trying to work without definite goals is much like setting off on a journey without a map or destination. Without goals we tend merely to drift through life, achieving far less than we are really capable of.

On the other hand, the motivating power of goal setting is considerable. Goals are crucial to your success because they allow you to take control of your business's destiny, rather than simply letting events control you. Goal setting also gives you the opportunity to motivate yourself by setting challenging goals for yourself and encouraging your employees to do the same.

Goal setting is therefore the distinguishing mark of successful business people. They wake up each day knowing what they want to achieve, both personally, and for their business, and how far along the road to that goal they have come. In addition, the process of goal setting also allows us to see that seemingly unattainable destinations can be reached, because we can plan the journey as a series of measured steps.

fredkawig
03-10-2014, 10:09 AM
Goal setting is important to have a picture of what to do and what to aim for. Usually the more goals achieved, the better the business and the operations go. The more cash inflows come and go.

Eagles910
03-10-2014, 10:58 AM
Setting goals for your business is extremely important. If you do not have goals, then you are not working towards anything. It would be easy slack, and your business would suffer because of it. If you fail to plan. You plan to fail.

owesem75
03-11-2014, 12:56 PM
Setting goals is very important. But sometimes, we tend to over exaggerate it, but it is ok for as long as you know your way how to achieve it. After defining your goals, set short-term objectives like, make the business operational and break even as soon as you can or get your ROI. Then, set your medium-term goal by setting quota in terms of income, or start an expansion or enter into a franchising. Once these medium term goals are met, then you can start reviewing your goals again and see if you have met it, otherwise, you may consider calibrating it should there be some factors affecting it. Once you have a well-oiled business running on its own or requiring less of your time, you then begin to create another one.

jubvman
03-11-2014, 02:37 PM
It's very important to set goals. I have so many lists of things I need to do relating to my business and each day I'm able to tick a few off, but I always try and put new things on all the time. It's very motivating.

Also, make sure your goals are S.M.A.R.T. goals. Specific, Measurable, Achievable, Realistic and Timely. I'll give you an example..


Non-smart goal - "I want to lose 12lbs of body fat"

Smart goal - "I want to lose 12lbs of bodyfat within the next 6 weeks (losing 2lbs per week), I will do this by eating at a caloric deficit and going to the gym three times per week."

By setting S.M.A.R.T. goals, you're much more likely to achieve them.

useruseruser
03-22-2014, 05:18 PM
I think that setting goals is very important for a business. Without goals , we have nothing to strive towards. I would avoid making grand and lofty goals that cant be realistically completed. Keep your goals realistic and keep your goals in mind.

lizzief79
03-23-2014, 01:00 PM
I would say setting goals is essential. It gives you something to work towards and keeps you motivated. If you don't meet your goals this shouldn't necessarily be seen as a negative. Instead, use it as an opportunity to analyse why you didn't meet your goals, what you did badly, what worked well and what you can do to improve. I always use the SMART acronym when setting goals. There are different variations of this but to me it stands for Specific, Measurable, Achievable, Relevant and Time-managed.

tinyfang
03-23-2014, 02:39 PM
Our company has a general business plan, but we also create yearly milestones for us to achieve. If we don't achieve them, then we re-write our strategy. The milestones have to be realistic, but has a real plausible challenge that will benefit your company and not vague or too ambitious, since our overall business plan would handle that vision.

For example, one of our first year milestones was to bring in enough clients that pay a monthly hosting with us to mitigate the monthly cost of our servers. That was met within a year and a half. Another example is to penetrate a particular industry with our services and we've managed to make headway into it, but it still has some ways to go.

cmiller
04-03-2014, 05:47 AM
I believe that goals are very important especially when you have your own business. This will help you to stay more organized and to help better see where you are going. I think new people should start with goals like how much money do you wish you make, how soon do you wish to make that amount of money and how much work you are going to put in to get there. I think goals help you to stay more motivated.

CharlesHarrison
05-14-2014, 07:56 AM
Establishing a goal for a business is really important since goals, explains exactly what the organization intends to achieve when it comes to success, progress and market-share. It enables everybody within a company evidently to understand the course of the business and how they are able to give rise to meet business targets

Saman
05-15-2014, 06:01 AM
Goal setting is not important rather it is necessary for every person, especially for those who want to indulge in business matters

saya dewa
11-04-2015, 03:57 AM
four reasons why you should be setting goals for your organization:

1. Measure Success

Good organizations should always be trying to improve, grow, and become more profitable. Setting goals provides the clearest way to measure the success of the company. When you are looking at your company from a three- or five-year perspective, you are looking beyond the tactical side of your business and instead taking a much more macro view, which allows you to see the company from a competitive, business vertical or economic perspective.

2. Leadership Team Cohesion

Setting goals ensures that everyone understands what the prize is and what they are working towards. When your leadership team clearly understands what you are trying to accomplish it provides greater rationale for the decisions you might make regarding hiring, acquisitions, incentives, sales programs, or any other financially-driven decision. This will eliminate a lot of the uncertainty that goes with not understanding the goals of the company.

3. Knowledge Is Power

When your goals have been defined, you can develop a deeper understanding of the effects of tactical decisions and how they play against the strategic goals. For example, when you have a budget that considers revenue to expenses, you will better understand the implications of a major purchase or winning a large new client. I have long believed that information is power and the more you know, the better decisions you can make.

4. Reassess Goals Mid-Year


When you set goals early and continually monitor your business against those goals, you can change course mid-year or when necessary. For example, say you have set your growth revenue goal at 20 percent from the previous year, but midway through the second quarter you find that your financial projections are not tracking like you had expected. You can modify your revenue and expense targets to reflect how your business is trending. If you hadn't set the goals, this type of information is not as apparent and decisive action is more difficult.

InBusiness
12-26-2015, 01:03 PM
Goal setting is important because it is where you will aim your business. It creates a vision and gives the motivation to get there. By having a goal, you and your team align efforts and unite.
A goal will additionally help you determine which daily tasks that you are handling are helping you towards achieving such goal and which ones are just a nice to have (and, therefore, can be omitted or left for another time).
A goal that is achieved improves job satisfaction for employees and a sense of accomplishment for the business owner.

dmoss
01-04-2016, 11:27 PM
It surely very important, because without purpose and goal, the business will be goin out of luck soon, soo maintain your goal and achieve it with consistent

1Maverick
01-30-2016, 09:50 AM
Most business people have no clearly defined goals as regards what they want to get from their business. Some just embrace the abstract idea that they're in business to make money. Is that all a business man should focus on? Much as that would be the ultimate goal, aren't there steps which have to be followed before you get to that?

What goals should a newb in the business world set and attain first before sitting back to watch the profits from his business roll in?



Hello Rainman,

Firstly great to know you getting into business. Secondly, Goal Setting is an INTEGRAL corner stone of any successful business. You see it in their Vision & Mission statements as it guides the entire organization towards the desired out come of the business. Without it, prepare to FAIL.
The abstract way of thinking is great for brainstorming or those with impeccable memory. I use use it sometimes but ALWAYS SET & WRITE YOUR GOALS. Successful Entrepreneurs and people always have a goal set, it gives us purpose and we operate in a laser like manner to accomplish them. All our actions, decisions, etc...must bring us closer to our goals. Writing them also allows us to measure how effective & efficient our actions are at bringing us closer.
I could go on and on trust me, but get my free 15 step guide (http://www.moneymanmaverick.com) to help you now!. All the best!

KelenaBlack
02-08-2016, 01:43 AM
I think it's extremely important for anyone looking into getting into business to have realistic goals. However, some people do just get lucky and get rich and successful off of their business without having to worry much, I have to admit.