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Both
long-term and short-term goals will shape what your business becomes.
Therefore, they should govern every component of your business’s
operations, structure and vision. Capturing them in writing, with timetable=
s,
gives you a working blueprint, even with the frequent adjustments you may
choose to make to remain flexible in the early stages.
Fir=
st,
consider your long-range goals. Do you want to be an industry leader or sim=
ply
a dominant player in your own local community? Are you content to make a st=
able
living for you and your family, or do you aspire to earn enough to retire b=
y a
certain age? Be honest with yourself. These goals will help you set the ove=
rall
direction and identify two or three viable short-term objectives for your
business under each goal.
To further clarify your goals and objectives, devel= op criteria for measuring your performance against reasonable targets within y= our industry or service area. Measurement is essential to keeping an objective = eye on your progress. Each performance point should have an action plan and timetable, including milestones and contingencies.
Whe=
ther you
are opening a business for the first time or have operated a successful com=
pany
for years, consider getting an objective evaluation from an expert source. =
If
you would like to discuss this topic or business planning, business growth
strategies or a specific business issue, contact SCORE® “Counselors to
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