It’s no secret that all business owners have a set of goals that they’re working towards. But few people realize that the goals you set are actually the key to reaching them. Sounds weird right? Let me quickly explain what I mean.

In a way, the goals you set are actually the building blocks of your entire business plan. Because ultimately, they determine which things you’re going to focus on in your business. So setting the right goals is actually more important than you might think.

And today I’d like to discuss some ways that you can set your goals in order to start making more money from your business.

Tip #1 – Avoid Making Goals With Vague Finishing Lines

One of the worst things you can do when making business goals is to create a goal that doesn’t have a clear end. The entire point of making a goal is to eventually reach it, so that you can measure your progress. But if you make a vague goal then you may never feel like you truly reached it, and this can lead to feeling discouraged.

Many times this happens because there’s confusion over what counts as “success” for the business. And examples might be something like “make money”. This goal is simple enough, but it doesn’t specify how much money you want to make. So the goal can never be truly finished.

Instead, you should aim for making very concise goals. For instance, you could easily remedy the example goal by saying “make $200”.

This way, you’ll be marking off more goals and feeling an extra boost of motivation every time. And furthermore, it’s often easier to make a plan of action to reach detailed goals. Whereas the solutions to reach vague goals can be harder to find.

Tip #2 – Don’t Make All of Your Goals Hard To Reach

It’s easy to get carried away when you’re creating business goals, because many times you’re only focused on your long term vision. But trust me, if all the goals you set are long term ones then it’ll be much harder to make your business plan.

The reason behind this is that if your only goals are set far into the future, it becomes unclear which steps you can take to get there. But alternatively, with smaller goals, it’s much easier to envision how you’ll reach them.

That’s why my official suggestion is to make one or two long term goals, but also create smaller goals that get you a bit closer to reaching the large ones.

Maybe your big goal is to be able to hire some employees to help you out. In this case, some smaller goals might be to; increase your business’s income to a place where it can support paying a few salaries, find a way to advertise the fact that you’re looking for new employees, and finally, to select employees who would work the best for your business.

Tip #3 – Consider Giving Yourself Some Deadlines

This tip might not work for every business, or for every person. But many people might find it more motivating and structured to create goals that have deadlines. This strategy could potentially work due to several factors.

Firstly, people that thrive under pressure can find it inspiring to have a “cut-off” date for their goals. Secondly, you’re more likely to find an effective plan of action to reach a goal if you have a deadline to keep in mind. And thirdly, it’s harder to procrastinate when you have a deadline breathing down your neck.

However, as I mentioned, this method of creating goals might not be for everyone. If deadlines stress you out more than motivate you, then avoid making goals with deadlines attached. Or if you’re making goals that rely somewhat on time or factors not in your control, then consider either setting a generous deadline or not making one at all.

Tip #4 – Get Inspiration From Others

There a few ways to go about this tip, but don’t worry, we’ll cover all of them.

The first strategy is to simply ask someone else what their business goals are. If they’re in a similar field or certain aspects of their goals can be applied to you, then the advice might be very direct. But otherwise, you should at least be able to gain some inspiration by learning what other business owners are focusing on.

The second strategy is to take a look at your competition. Try to figure out what their goals and strategies are, and model some of your goals around that. Don’t copy them, but apply some of the strategies in your own way.

You should never underestimate the expertise of other people, there’s always something new to learn even if you’re a business veteran. And others might have valuable insights and ideas that can help you out a lot.

Tip #5 – Realize That You Might Not Meet Every Goal, And Be Okay With That

The tip that I want to close out this article with, is quite possibly the most important one for your mental health. And it is to make goals realistically, keep in mind that things could go wrong and you may not reach every goal you set. This is especially true if the goals have a deadline.

But the thing is, at the end of the day, goals are just a way of setting some guidelines to work with. Although it’s nice to mark a goal off your list, it doesn’t mean that you’re a failure if you’re unable to. And removing the pressure that’s associated with goals, can help you reach them a lot more effectively in the long run.