How To Set Goals For Your Small Business

Being an entrepreneur or small business owner is an admirable undertaking.  Success is challenging to come by, and even if you do succeed, maintaining it is an even more challenging endeavor.  However, once you know what to do to ensure your doors stay open, you’ll get there – and stay there – easier.

The thing is, without having a clue of what it is we want to achieve, we won’t get anywhere.  That said, setting up small business goals will stop your baby from sinking. Working towards those goals will help you get things done and show a profit.

Goal setting tips

Here are several principles for setting goals for your small business.

1. Motivation

Non-priority tasks will get sent to the backburner and you will want to do increasingly less. These goals and tasks, because you don’t want to do them, will take longer for you to finish – holding up your clients and employees. That’s why it’s important for you to ask yourself whether the task is critical for the future of the business. This will keep your sights sharp and help you focus.

2. Accept Imperfections

It is not important to get everything. This perfectionism spells disaster for your business. It’ll end up costing your employees’ productivity. Imperfections will happen sooner or later, especially when it comes to goals.

Progress is more important than getting “everything” right.

3. Commitment

This means having commitment to our visions and dreams. Commitment to our habits and routines. Commitment to seek a better life for ourselves. This involves being clear about what the goal involves.

Staying dedicated and persevering through times of trouble is essential for making your business goals a reality.

4. Smaller Steps

Getting small business lending will help you figure out where to get funding. By breaking goals into smaller, achievable steps, you will see what it is you actually need to do to accomplish “the big idea.” Business goals are formidable. It is your job to make them less so.

Long-term goals will be more achievable for you and your departments. There is no shame in taking baby steps. You can do this by creating an action plan.

Business vision meeting

5. Vision

Nobody can deny the importance of the mission of your business. Equally as important is setting a vision for your business. What impact do you want your business to have? Think of it as a Kodiak picture of how your business will be in the future – set in words. Ask yourself the question: “Why do we exist?”

Doing that will show you if your goals and tasks are aligned with answering that question. Moreover, that will keep your team on track.

6. Start Accomplishing Them

All plan and no action makes Jack a dull boy. There is no getting around having to execute and build your own thing. Gary Vaynerchuk said, “I think people’s mouths are way ahead of their actions and not executing to build something substantial and real.”

Once you have goals and ideas of what you want for your business, do them. There is no getting around the simple fact that running a business is hard work.

7. Be Realistic

Above all, be realistic with your goals. It is easier than ever to get carried away with building one goal after another. Bogging yourself down in details is one of the best recipes you can do for yourself. Therefore, whatever you set, make sure your business can reach it in three to five years.


Owning a small business doesn’t have to be hard. It takes effort, dedication and pure grit to make your business work. Don’t give up on the dreams you have for the future of your company – that will stop you from making sure your goals fall flat on the ground.