How To Set Realistic Business Goals (My 3 Simple Steps)
Author: JC, Last updated on 2019-10-24
1) Set Revenue Number
You have to have a concrete revenue number, for example, how much money you want to earn each year.
Without a concrete number, you don't know when you have achieved your goal. Also, you can't plan your quarterly, monthly and daily activities for your goal.
Say, for example, if your yearly goal is to make $100,000, then, you can break it down into making $25,000 a quarter. And you will need to make around $8,300 a month, which is about $270 a day.
So, with concrete revenue numbers, you will gain much better clarity in your business.
2) Set Action Steps
Use the goal I just mentioned as an example, you need to think about this: what are the activities you need to do to earn $100,000 a year?
So, list all the possible activities you can do to earn that money.
Then, make sure your daily activities are in line with this goal.
For example, I see a lot of people wanting to do business, but, they spent most of their time chitchatting with people online.
That's such a waste of time, because chitchats won't make you even a dollar. Plus, you tend to get a lot of negativity online as well.
So, don't spend time blindly, be very mindful and only do those activities that will bring you business results, in this case, do those activities that will bring you actual dollars, not karma, not likes, not anything else.
3) Review And Change Your Goals If Necessary
Business is very fluid, and market can change swiftly.
So, you need to adjust your goal accordingly from time to time. Don't be afraid to change your plan. If this current goal doesn't work out, then, change it!
Don't be too stubborn about your goal.
There is no pride in sticking with a flawed business plan.