A business without a goal is meaningless. This will be sounding quite obvious enough. Needless to say, there are but some entrepreneurs who do not at all take the time to do that. It is equally important to focus on goal setting of the organization. Instead of setting goals these people will just go around selling their products or services. These newbie will be chasing every customer who shows slight interest. This is generally done without any clear direction of where the thing should be headed.
The situation can be compared to those people who have been working five, ten, twenty years at a job just to be promoted. Majority of the people do not actually like their jobs. The same rings true for entrepreneurs. There are some people who just set out wanting to make money. They do this without even thinking what they want to accomplish in the aspect of long term goals.
This article shall act as a guide for setting up new goals and derive its importance too.
The process of setting goals for new business:
You should try and pick up the correct goals for your company as too many businesses in the country start out with the wrong goals and incur losses vehemently. Those goals may not be inherently wrong, but they may not be right if you consider the position of the business in the market. The goals are also dependent on the availability of resources. Short term goals do not factor in the bigger picture so you should start with the long term goals. This is because starting with long term goals will give you a clear pathway. People who most likely start with short term goals tend to jump from plan to plan. This will not help you in accomplishing anything.
Try to set long term goals for a period of time, say suppose three to five years. This is to be done while considering company’s vision and core values. The idea that started it all should be a motivational reason for you to build the business further. It is seen that long term goals generally has more weight behind them and also a meaning. Be it customer service, profit, social responsibility, or growth; your long term goal should be able to cover every facet.
You are not advised to set short goals at all. It is just that you should line the short term goals with longer objectives. Suppose if your long term goal is set in three different cities, then you can use short term goals to get them going.
Importance of setting up goals:
It is a very wrong approach if you do not set up goals citing different reasons especially bills and the related ones. Goals take a lot of time to be created. And it also requires a bit of introspection. Take all the time you need. This might be difficult in economic terms. However, devoting this time shall provide you clarity and help the business to flourish.