Starting a Business in 2015?

We talk a lot about personal finance here on this blog, as our regular readers know. Of course many of our readers are entrepreneurs and, in 2015, many will start a new business.

With that in mind, we wanted to remind all of them (and maybe even you) that there’s one vital step that they need to take, and make, in order to increase their chances of success incredibly. Some of you might say “well, duh we already knew that” when you hear it, but the reason we’re writing about it is because many entrepreneurs simply don’t do it.

The “it” we are talking about is writing down your business goals.

You might call them something different, maybe objectives or accomplishments, but it’s incredibly vital that you think them out, write them down and, over the next days, weeks and months, come back to them and make sure that you’re on track.

Some experts will tell you that, without writing down goals, you can’t make a marketing plan because you don’t know what you’re trying to accomplish.

Even a basic marketing plan should include the end result, and without goals you don’t know what the end result would look like or should look like.

Again, some of you might be thinking that this is so incredibly obvious that it shouldn’t even be mentioned, but the simple fact is that many entrepreneurs don’t write down their goals but instead simply just launch their business, even though they still don’t have an idea of where they want that business to end up.

For example, do you want to build your business for a year and then sell it to the highest bidder? Do you want to own a chain of businesses, or just one? Do you have a specific number in mind for how much money you want the business to make, or how long you are willing to take in order to get there.

No matter what you are planning to start in 2015 (or whenever) you need to identify your business goals first before anything else.

One other thing that’s important about goals is this; they need to be measurable.

Every single goal that you write down should have some kind of quantifiable component that you use in order to measure whether or not you’ve been successful in meeting that goal. For example, if you’re launching a small boutique cosmetics store, you should have goals in terms of numbers, sales, customers and so forth. You also need to have measurable goals for your marketing and advertising as well.

As you can see, setting goals is incredibly important part of starting a business and writing your marketing plan. Indeed, writing them out and seeing them on paper is sometimes enough to put a fire under your butt to get going or, in some cases, slow you down a bit to take a look at exactly what you’re planning, and possibly change those plans.

No matter what type of business you begin this year, write down those goals, check back on them often and, of course, good luck!

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