Setting up Successful Business Goals

Establishing a business direction starts from setting a list of goals that will serve as a route towards success. To make goals effective, experts believe that these should be comprehensive, specific, attainable, task-oriented, challenging, and objective-focus so that entrepreneurs will know if their companies are achieving its business mission or not.

Business goals are important elements that will drive a company towards success as these will allow entrepreneurs to know their priorities and avoid other distractions that may waste efforts and resources.

According to experts, business goals should consist of long-term and short-term plans that will guide people on managing their companies while allowing them to determine what improvements which must be performed.

In making a list of business goals, these are some of the things entrepreneurs should consider:

Task-oriented

Each business goal should clearly focus on what actions should be done and the procedures on how to achieve the plans that will pave way for the success of a company.

Specific

Ideally, business goals should be specific and highly descriptive to allow entrepreneurs to know all the priorities they should follow so they can achieve their business missions.

Attainable

Each goal should be attainable but still challenging. According to experts, setting the bar high is the whole point of any business especially in this highly competitive market wherein only the assertive and determined entrepreneurs will succeed.

Time-frame

As much as possible, each business goal should have a specific time-frame to allow entrepreneurs what are the things they should prioritize and the plans they can temporarily postpone.

Short-term

Because the business climate is constantly changing, experts believe that short-term goals, which may last for a year or three, are very important in handling a company as these will serve as its guide.

Long-term

By having long-term goals, entrepreneurs will be able to have a bird’s eye view on what is happening on their business, while allowing them to know if they are achieving what they have visualized or if they still need some improvements.

Assignment

From small-scale businesses to large organizations, job assignment is very important as it will tell the tasks of each key employee or department. For example, a business goal assigns the advertising department to create a website and social networking account which can be used to reach the target-market and advertise a product or service.

Alternative plan

While business goals should be specific, people should remember that sometimes, these will not be achieved the way they have envisioned. With this consideration, it is important that they prepare alternative plans so they can provide solutions to the challenges they may encounter.

13 Comments

  • M.SRINIVASULU said on June 17, 2012
    Now doing Transportation business since 6 years. now this business very competitive in the market in future i want change the business due to heavy competition and heavy investment. kindly suggest me to create the new business. Thanking you, M.SRINIVAS
  • abdul said on September 18, 2012
    i wanted to star business of export of fruits to Saudi. what should i do for this i need the licenses
  • CHETAN D.JAMBHULKAR said on September 27, 2012
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  • ARJUN MANEK said on October 26, 2012
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  • Godspower Micheal said on November 11, 2012
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  • Hopewell said on December 6, 2012
    I'm Mr Hopewell Zakhele Mpanza base in South Africa in KZN, I been working For yrs now in export and import of which I have my own company now for shipping, I'm looking for partner so we can establish as I have lot Of experience as well good contact for clients in china my contact Aedshipping@gmail.com
  • pramod Patil said on February 14, 2013
    Respected sir, I want to export my product of PP mats in African countries, i do have an export license of my firm. please suggest me that how could i get the importers information that means i can contact them easily. thankyou. Pramod Patil, Varun Polymers, Jalgaon-425003(MS)
  • skp. sarathy said on April 23, 2013
    I want to start my own import - export business but I haven’t enough financial support. Therefore you please suggest me some ideas to enable me to get into this impex business. My location is as follows. CHENNAI, TAMIL NADU. MOBILE NO. +91 9042639485. EMAIL ID - impexinboxmaa@gmail.com
  • prabin kumar patel said on December 17, 2013
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  • ELIYA MHANGO said on January 27, 2014
    i am a zambian and live in copperbelt chililabombwe. i want to start the hospital business but i dont know were to go and what the guidelines are, hence i need full information on the registration process and were to apply for grants or any information that will help me. my mobile number is 0979 063 446
  • ram said on July 30, 2014
    i am from tamilnadu, i want export appalam, pickles. kindly guide me to start export business, for which county is this possible. assist me as soon as possible. my id is advanceram@gmail.com
  • Anudeep Pawar said on September 29, 2014
    I am new immigrant to Canada, as I am interested to set up small scale business any my business is related to rajasthani culture it includes lakh jewellery, cotton clothing, bed sheets, quilts, Decorative items. help me to guide in proper direction. what should I do and I needed .
  • Prem Tiwari said on September 7, 2016
    Sir, am from west bengal, asansol. sir i want to set up a business. so plz suggest me some good type of business it should be in long term proportion, in which by budgets around 1cr...so kindly help me out....thanking u

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