Establishing a Business Begins with Goals

Engage with the West Michigan Woman Community!

Career-Goals CroppedAccording to Nell Merlino, author of Stepping Out of Line and founder of Take Your Daughter to Work Day, the average woman is earning less than $50,000 annually. Setting proper goals is the first step in reaching earning potential for women, and writing down those goals and creating action plans will increase the probability of achieving them.

Although perfecting a business's craft is crucial, what is also important is the need for improved infrastructure. Setting financial goals is the first step, but in order to reach the bar, set goals that can be realistically fulfilled. Financial goals, especially in an uncertain market, should be addressed often. Do not sacrifice your personal credit. Lenders will look to your credit score when considering business loans.

When it's time to set your goals, begin by asking, "What am I best at?" Search out all corners of your imagination, and brainstorm a list of things you enjoy doing, things you can do well, and ways to work these talents into your business.

Enlist the help of others. Solo entrepreneurs are challenged unnecessarily by trying to accomplish career goals alone. Quality and service are not sacrificed by hiring help, in fact this will free up time to focus on goals. Put together a team of people with the same vision who will work toward the same goals.

Be thorough, and do things right the first time. In any business, there will be a process of trial and error, but minimizing the error will allow for a better overall experience for business owners and customers. Using technology takes away some of the guess work. Use it to keep accurate records, and to stay in touch with customers.

Always look to improve. Revisit your beginning goals, and revise them based on the things you have achieved and the things you have yet to do. Goal setting can be implemented by first-time business owners or for those whose practice has long been established.

Source: Shepreneur Photo: Desi.Italy

More stories you'll love