5 Tips on how to set realistic business goals

When it comes to setting business goals, it can be tricky to find that middle ground. If you set goals that are too high, you might get discouraged. If you set them too low, you may end up bored, complacent, or disillusioned with your business. So how do you strike a balance? Here are some tips.

1. Write down your goals – Know what you want

First, you need to determine what you want. Those that know me know I love making lists, so write it all down guys. Put it down on paper and don’t hold back.

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2. Review your goals – Assess your list

Now, take a look at your list. Make a sub-list of steps you have to take to reach each of those goals and dreams. Are there some items on your list that involve steps you can’t take? If you cannot take the steps necessary to achieve that goal, then it needs to be modified or removed from your list, remember, we are setting realistic goals.

3. Goal strategy – Define your steps

As you are making your sub-list of steps, you need to develop specific strategies for those items on your list. Being able to see what is necessary to achieve what is on your list can help you decide whether or not to pursue it. You may also find that your strategy may in fact be doable, but you may be unwilling to take those steps for whatever reason, maybe you are not there financially or family commitments won’t allow you to fully commit to the strategy.

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Whatever it is, just know that it’s ok because these are your goals and the only expectation you are trying to meet are the ones you set yourself, just don’t be too hard on yourself ok, the point is to narrow things down.

4. Reaching your goals – What is your timeline

Determine a timeline for your goals. Do you need to make more money right now, as in this month? Or do you have more long-term goals, such as eventually quitting your day job? On your master list (now that you have narrowed down your goals and you have developed strategies that will help you achieve those goals), write down your timeline. This will help you further narrow things down because if the goal can’t be reached within your allotted time, then frankly it doesn’t belong on your list of goals because you may not be able to achieve it.

Remember this post is all about realistic goals. It’s not to say you completely throw it away, but for the list you are currently making that is taking into account your current circumstances and what you would like to achieve in the allocated time frames, it may be best to shelf that goal for the time being.

5. They are your goals – Know yourself

One of the keys to succeeding is to be really honest about your strengths and weaknesses. Sometimes we think we can do it all, or do anything and other times we think we can’t do anything at all because we doubt ourselves. Neither of these extremes are likely to be true! If you can, ask others what they think they can see you doing, what you are good at, what they come to you for advice for. Once again, break out your pencil and list things you like to do and skills you feel confident about. Just about any skill or attribute can be channelled into helping your business succeed.

These list-making exercises can help narrow down your goals and keep them realistic and reachable.

If you want to find out the 3 common obstacles stopping you from success, go check out my blog post by CLICKING HERE.

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2 Comments

  1. Pelumi
    September 28, 2020 / 7:57 pm

    Great post

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