If you’re on a highway, it’s much easier to see your destination when you have a clear road ahead and a road map (or GPS) to guide you. In business if you want to grow strategically, you need a clear, well-laid out path toward the finish line of success.
What will make your business succeed where a competitor might fail? Clear objectives. Here are some of the objectives that you should write down:
- Revenue goals
- Loss projections
- Profit margins
- How you will gauge customer satisfaction
- Your salary
- How you will determine when you will need to hire help
- What products and services you will offer
- Who your target market is
- How you will determine when you have achieved success. What does that look like to you? Hint, it’s different for every business owner.
Once you have your initial objectives written down, write down this question and ponder the answer, “Where do I want to be one year from now?” Write your answers as they relate to income, business location, new products or services you might want to offer — the sky is the limit on your dreams. If you write them down, though, you might just be compelled to make the steps necessary to make them happen.