Many people start a home based business and forget one very important detail that will make or break their new business...GOALS. You need a set of business goals, so you have a path to follow. They will keep you on track and remind you why you started your business in the first place. These goals will also help generate the cash flow you are seeking to achieve for your business.
Everyone will have their own level of involvement in their home business and will move at their own pace, so set your goals according to your own level and pace you desire.
Now, what do you REALLY want? It is very important that you understand "WHY" you are starting your own business.
Your "WHY" is what drives your business, so you will want to write down your "WHY" and keep it in front of you at all times. Put it by your computer, in your work area, on your refrigerator, on your bathroom mirror, just keep it highly visible. An example of a goal that is not detailed enough would be to say you want to save money. Break it down further by asking yourself: Is it to work from home? Buy a new car? Pay off your debt? Pay for college? Spend time with family? I think you get the idea.
Setting Realistic Goals
Unless you take action, your goals are nothing more than dreams. Writing down your dreams turns them into goals. Taking action towards reaching your goals brings them closer to you. Consistent daily action will result in your goals becoming reality at a much faster pace, than if you do not work at them on a daily basis.
Goals must be:
* Specific - clearly define what actions are needed.
* Measurable - what or how much time do you need?
* Challenging - reach outside your comfort zone.
* Timed - you must have a clear and well defined deadline for each goal.
* Documented - if it is not in writing on paper, it is not considered a goal but a dream.
Setting your "now" goals:
1. Take time to familiarize yourself with your new home based business.
2. Set aside time for your business:
* I will work on the following days: (i.e., Monday, Tuesday, etc.)
* Each day I will invest _____ hours in building my business.
* My business hours will be from _____ to _____.
Now, I would like to share with you some ideas that you can refer to for creating your goals. You can expand on each area and modify it to your own preference. It is critical that you write your goals down and read them everyday when you wake up in the morning and go to bed at night. If you take action and review your goals like this, you will start to make decisions to achieve your goals without even realizing it!
List the three most important reasons you are building a business:
List your financial goals over a 3-Month, 6-Month, and 12-Month period of time.
3 Month Goal =
6 Month Goal =
12 Month Goal =
Write what you feel you REALLY need to do to accomplish your goals, but at the same time be realistic about what you can make with your chosen business.
Remember, short term sacrifices results in long term cash flow!
How much money would you need to generate monthly for you to live in comfort?
Wants - list all the things you do not currently have, but would like to acquire in the next 2 years, such as a new home, a new car, a luxurious vacation or a new computer. Be specific (new 4 bedroom home in 12 months, a new Mercedes in 18 months, etc.) This is where you can use your imagination and explore your dreams again!
To run a successful home based business that generates a healthy cash flow it is very important that you treat your business as a real business. I see so many people get in this great home based arena and put in little or no effort and then blame the business or the product. If your schedule says you are going to start your day at 9:00am or 6pm, show up at your desk on time and ready to work. I know it is sometimes difficult, but eliminate all distractions that interfere with your scheduled work hours. Discipline yourself and success will follow. You will succeed if you focus on your goals and take consistent daily action to achieve those goals!
Article Tags: Home Based Business, Cash Flow, Home Based, Based Business, Very Important, Month Goal