Setting goals for your business is critical to your success, and is really the only way to know if you are flourishing or floundering. Increasing revenue and profit is the overall goal of most companies, but when you start your own business, you’re putting your dreams on the line. That’s why for passionate business owners, it’s not just about the money. It’s about guiding and growing a company that reflects who you are and what you believe. If your own values are at the core of your business goals, you’ll be more motivated, more focused, and, ultimately, more successful.
Luckily, working on your business goals does not need to be a tedious task. It comes down to one basic principle: Connecting your ‘why’ to your ‘how’.
Think About Your ‘Why’
Starting any business is often filled with stress, anxiety, and worry – not to mention the long days and (sometimes) even longer nights. It’s also a significant financial investment with no guarantee of any return. Plus there’s the time away from your family and the chance that you’re walking away from a different career path. Basically, being a business owner is risky.
Of course, you knew that (we hope) when you decided to become an entrepreneur. Still, you decided to make the jump from employee to owner. Now is the time to ask yourself, ‘why?’ Why did you decide that this was what you needed in life? Maybe you wanted full control over your schedule or knew you could do a better job if you were your own boss. I have to admit that, back in my early days of owning a business, working from home was a really attractive and enjoyable option because I could have a Wednesday pyjama day to recover from Dubai’s Tuesday’s Ladies nights! The bigger ‘why’ for me was being able to choose the clients that I wanted to work with. Whatever reasons you had for becoming an entrepreneur, only you know them. And you need to know them well to get yourself through the inevitable ups and downs. So, write them down on a piece of paper and display them next to your desk or somewhere else you will see it daily. It may sound a bit cheesy, but there’s something about writing it down and keeping it visible that makes your ‘why’ more real.
Connect Your ‘Why’ to ‘How’
After you’ve delved into your ‘why’, you need to figure out your ‘how’. If you’ve started your company, then congratulations! You’ve finished the first step! Now, you need to turn your dreams into reality. To do that, you need to figure out your next (business) step to help you fulfill your ‘why’. For example, if your ‘why’ is that you want to share your creative talent with the world, then your ‘how’ could be setting a certain number of shows/exhibitions/performances that you have to complete in a month. If your ‘why’ is setting your own schedule, your ‘how’ might be creating a digital workspace that meets all of your needs and functions at any time, anywhere.
Once you’ve identified your ‘how’, again, make a list, and also post it in your work area. Every time you complete something on the list, put a tick or sticker (give yourself a gold star!) next to it, and then challenge yourself a little bit for the next go around. You managed to pitch to 15 major companies? Great! Now, make it 30 major companies. By making it more challenging, you’ll motivate yourself, grow your business, and keep it interesting.
As business owners, we may be profit-driven, but it’s not our only objective – at least, it shouldn’t be. If you haven’t found any other goals, you’ll find yourself fed up and ready to call it quits. Instead, take the time to understand your ‘why’ and ‘how’ and create focused goals that will make you happy you chose the life of an entrepreneur.