Business Goals You Can Set Up for Your Startup

Do you have a business startup and want to set business goals? Bringing your dream startup to reality can be exciting. You finally have the opportunity to solve problems with your startup. However, without clear business goals, your startup is bound to come down crushing.

Running a business startup means that you have more things to manage. Setting SMART business goals make this process smooth.

What are the business goals?

Business goals are sets of business targets you aim to achieve in your business. S.M.A.R.T goals are known to be specific, measurable, realistic, and time-bound goals.

As a business owner, your goals should be specific, meaning that you know the exact things you want to achieve both in the short and long run of your startup.

A specific goal answers all five “w” questions like who, what, where, when, and why?. 

Measurable goals mean that you have a system to gauge your startup progress. It helps you to understand how you achieved a specific purpose. Your business goal should answer how much/many you have made. Measurable goals help you stay on track in your startup.

Another thing is that your business goals should be attainable or achievable. You should be in a position to achieve the set goals. And this means that you should have the right resources to achieve the goals. You can learn how other startups achieved their goals. Analyze if you have the right resources and opportunities to perform a specific purpose.

Smart goals are also realistic. Are your startup’s goals realistic? Can you commit time and resources to achieve the goals? It is crucial to consider reachable goals and drop the unrealistic ambitions. Focus on the things you can achieve without straining too much. The goals also should be within your reach.

Finally, your startup goals should also be time-bound. You should have a specific time to achieve the goal. It can be in six months, one year, two years e.t.c.

Time-bound goals help you focus and motivates you to work each day towards your goals and avoid procrastinating. 

Remember that it is crucial to consider your long and short term goals when writing down your business goals.

Why should you set business goals?

Importance of setting business goals.

A startup without goals is like navigating the business world blindly. Setting goals gives you a sense of direction and a roadmap to your business success. 

Another reason for you to set up business startup goals is that it motivates your employees. Each day they will have compelling reasons to show up at the workplace and execute their duties. Your employees will be motivated to keep up the excellent job performance throughout the year. 

Business goals also show your determination to take your business to the next level. Eventually, you will start attracting customers because of the explicit goals you set for your business. Client attracting goals also helps you to establish a strong relationship between you and your customers. You will have them come back to buy more from your business.

5 Business goals you can set up for your startup.

1. Get more staff for your business.

   Getting more employees for your business is one of the business goals you may want to set this year. Has your startup grown? Getting extra hands to help will boost its growth even more. The challenge comes in when looking for the right skilled people to hire. Plan how you are going to hire your first employee(s). You can consult with a lawyer and understand how the process works. Also, you will need to budget for the same. 

2. Develop new marketing tactics to boost your business.

   Business marketing tactics change from time to time. And this means that exploring new marketing tactics should be on your business goals list. Effective business marketing strategies will increase your outreach and ultimately get you more leads and clients. You can try new marketing strategies, like digital marketing. If you already use digital marketing for your startup, you can put in more effort into targeting your ideal customer online. There are many ways to market your startup, including the use of social media. You can start working on your social media business page to promote your products or services. 

3. Set financial goals.

   A financial goal is also another business goal you need to set for your startup. For your startup to keep thriving, you need good books. Set a financial management goal for your startup. Don’t have an idea of how you can clean your business books? You can work with an accountant to help you. 

4. Work on your brand awareness.

   If you are sole proprietor, chances are not so many people are aware of your brand existence. Working on your brand awareness is the goal you need to focus on. Not only are you boosting awareness, but you are also increasing your market share. To achieve this goal, you will have to research more about your market and write down plans on how you are going to cut through the noise. Have a reliable product or service marketing strategy to stay competitive. Have an eye on controlling the larger market share.

5. Acquire new assets for your business.

   Is your startup in dire need of new equipment? Buying new assets for your business to help you in the day-to-day activities is also another goal to set for your startup. With the rapid growth of your startup demands more equipment to make work easier. Some of these assets might be computers, vehicles to ease the delivery of your products to customers, etc. 

Set up business goals in 2020.

Are you ready to set up and crush your business goals? It is not a must to set five or ten goals. One goal can produce tremendous business results if you work on that goal. The above tips should give a blueprint on the business goals you can set up for your startup.

What’s Corido Does

You might ask what Corido Marketplace has to do with your business in 2020. Yes we have role to play. Since last year, we ventured into Corido Enterprise. A service dedicated in helping brands, startups, organizations and other corporations in to buying or selling whole or part of their business assets. They include tangible and intangible assets such as furniture, machinery, appliances, computers and electronics, plant equipments, goodwill, licences, intellectual property, contracts etc.

Get in touch with us to start of your journey in achieving the 2020 goals for your business. Contact us on 0794858010 or write to [email protected].