So, you know that you want your business to succeed. The question is, do you have a solid plan in place to help you make that happen? Ultimately, knowing where you want to be isn’t enough – you need to know the route that you are going to take in order to get there. Planning this route is all about setting goals that will accumulate over time, provide you with direction, and aid you in achieving your end goal: success.
Below, we highlight the five main principles involved in effective goal-setting.
You will only be able to reach your goals if you are 100% dedicated to doing so. Remind yourself of the ‘why’ behind putting the work in and use this as motivation to continue forward.
You cannot afford to be vague when setting goals. Be specific when it comes to what you want to achieve and precisely what this achievement should look like. It is also a must to set a deadline. For example, instead of setting a goal like ‘I want my business to start making a decent profit’, set one that is a lot clearer, like ‘by the end of December 2020, I want to be making a profit of at least R15 000 per month’.
You want to aim high, but it is important to ensure that the goals that you set are realistically attainable – particularly when it comes to the time-frame that you set.
Do you have the skills necessary to reach the goals that you’ve set for yourself? If not, start smaller and perhaps focus more on developing the skills required to take your business further.
You should constantly be evaluating your progress relating to your goals. Are you on track to realise them based on your chosen timeline? Do you need to pick up the pace? Is it time to adjust your strategy? Feedback is vital to staying on track.
Are you looking for guidance and support as you explore the realm of entrepreneurship? Join the SA Teen Entrepreneur program