Importance of Business Goals

Discussion in 'Growing and Managing a Business' started by TimeRider, Jun 6, 2008.

  1. TimeRider

    TimeRider
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    When you start a Business, you should be considered about your Business Goals. You should be clear about what you want. You must know where you are intending to get to, by determining your goals and being specific about them.

    Your goals should be specific depending on the type of business and really clear about what you want to achieve. There should be some sort of measurable description of your goal. You have to DO something for your business rather than talking. You should make your goal achievable, but don’t be frightened to make it BIG!! You should be carefull about the time. Be brutally honest about where you are starting from and what has held you back in the past.

    What do you guys think?
     
  2. Fergal

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    Goals are very important in that they allow us to measure the success of our business and they are great for motivating us to achieve something.

    It is important that goals are realistic and relevant. For example, if you start a new website it would be better to concentrate on a goal of getting so many unique visitors per day than to start immediately trying to earn a large amount of advertising revenue from the site. If your site is new and you start bombarding your visitors with adverts you may turn them off your site and do long term damage to your business.

    If you open a new restaurant your initial goals will probably focus on getting people into the restaurant and enjoying their time there. If you immediately focus on maximising the profit you get from every customer you may turn people away and create negative word of mouth publicity, again damaging your business in the long term.
     
  3. deepak_sharma

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    It has been said that there is no such thing as an unrealistic goal, just an unrealistic time frame.In my opinion you should always set your business goals . This helps you to move at a good pace in your business.
     
  4. Fergal

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    Very interesting point. Unfortunately it is not true in sport, if you have reached a certain age. It would be unrealistic for me to setting a goal of winning the Tour de France. However, I have no doubt that the statement is true in many circumstances and it is true that many people don't reach their goals because they didn't give themselves enough time.
     
  5. Nazreen

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    This is the same thing as saying that nothing's impossible but we all know that this isn't true. In every endeavor, be it in business, sport or self-improvement, there are some things that we really cannot achieve. Come on, let's face it, our mental and physical limitations will hinder us from doing the impossible... just like people cannot be faster than a speeding bullet, more powerful than a locomotive and leap tall buildings in a single bound.
     
  6. prettysue

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    In my opinion, business is being created by people because they have a goal in the first place. Goals like wanting to have a financial freedom, travel around the world, etc.

    As Stephen Covey said, begin with the end in mind. Goals are considered as the "end." Goals serves as our direction in our businesses. These also are our motivation to work hard.
     
  7. Fergal

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    Setting goals that are unrealistic for us personally can be demotivational. If the goal is really large, we will probably feel that the goal is not attainable from the outset. It is difficult to motivate yourself if you truly believe that what you are striving for is outside your grasp.

    Plus not reaching your goals can be demotivational. Whereas achieving your goal can be hugely motivational, even when the goal was quite modest. Achieving your goal can motivate you to stretch yourself just a little more, next time. It is primarily because of these motivational benefits that I feel that goals should be attainable.

    It is OK to stretch ourselves to the point that we miss some of our goals or targets, but there's nothing to be gained from making a habit of it.

    Dreams are different, it can be motivational and pleasant to dream of achieving something that is in reality unattainable for us personally. I still dream of winning the Tour de France :)
     
  8. prettysue

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    I will support your dream, Fergal!

    I agree with Fergal. In setting up our goals, we must take into consideration the time frame, the amount of your dream, when and where. Goals should be specific up to the last details. This will enable your mind to work on how to reach those goals.
     
  9. Bharat Book

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    I agree with this post.For achieving success in business,First we need to plan business goal.and we need to do efforts to accomplish that goal..It includes clear understanding about our business plan.
     
  10. MarkTaylor

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    Hi Guys,

    There's some good stuff here... I really think goals are essential because "If you don’t know where you are going, any road will get you there..." (Alice in Wonderland) - It's also a fairly established precept of Goal Theory - people tend to achieve more when they are focussed on a specific outcome. I have found this to be true in business and in sports - as soon as I stopped setting myself targets for running my times tanked!

    M.
     

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