That Smith

In the same manner of knowing the ins and outs of your business idea, you should also make sure you understand your business’s goal. A business goal is similar to the business idea, but is different because it is what you want to accomplish with the business idea.

For example: I recently spoke with someone named Carla who works part-time as a travel agent.

In the simplest form, Carla’s business idea is to sell vacations and travel packages. Carla does this because she enjoys traveling and gets discounts on travel as an agent. She also sells the packages to earn extra money on the side. Her goal is discounted travel and additional income - this is why she is in business.

Knowing your goal is just as important as knowing your idea because it keeps you focused. Your goal is what you want to accomplish with your business, and without it you would have no way of evaluating your position. If you haven’t thought about it recently, take time to write down your goal and be sure to include these basic aspects:

What do you want to accomplish with your business?

• Do you wish to promote goodwill?
• Do you want to make a difference?
• Do you want to make a particular amount of money?
• Do you want to do something you enjoy?

When do you hope to achieve it?

• One year?
• Five years?
• Ten years?
• Fifty years?

What do you need to do now to begin working towards this goal?

Unless you are just starting a business, hopefully thinking about your goal isn’t anything new to you. The goal is something you should always consider however, just as your would consider your life goals when making large personal decisions.