Mar 10, 2022: Setting goals and objectives for your business
A goal should be
- Inspiring
- Exciting
- Realistic
- Motivating
- A dream of yours
- Having a vision
- Having ambition
After setting a goal, we need to work each day and each hour to achieve it.
The big goal is something that we plan to achieve in the next 5 or 10 years.
How do we plan to do that? By setting up daily tasks, towards our monthly and yearly achievements.
What to look in people while hiring? Skills/experience or personality/ integrity?
- People with personalities, integrity who are willing to learn.
- People who are ambitious and smart.
- People who share your goal and are interested in the work to be done.
What do investors look for?
Teams. Because the right team fights to achieve the idea. Only one idea isn’t enough for investors to invest in. When they find more people believing in the same cause and are willing to work to achieve it, they invest.
How to build a team?
Hiring people with the mentioned qualities is not enough. While building a team, diversity plays an important role. The more diverse the team is, the more vision they will have. One person can miss 10 things but when there are 10 different people, they won’t miss a single thing. We have discussed that hiring people with the same goals and interests is essential but it is also important that we don’t hire people with the same skills and interests in our team. That cancels out diversity and affects productivity.
How to set team goals?
For a team, there needs to be a BIG GOAL. A Big Goal/vision is something we want to achieve in the next 5 or 10 years. But we work our way through it by making lists of tasks to be done.
The tasks depend on our short term and long term goals.
- Short term goals: Like a day to day goals, week goals, month goals.
- Long term goals: Half-yearly or yearly goals.
These short term and long term goals will finally add up to the big goal.
While working for short term and long term goals, it is common for us to blur out the big goal from our minds often. But that goal should always be remembered. It is the goal that inspires and motivates us to go through each task.
Set your goals and objectives and that will be the only leader you will need to follow to succeed.
To learn more on how to build a team, and become a better Entrepreneur join us next Thursday, on our weekly Mentorship Program with our mentor David Wagstaff.