For an entrepreneur to be successful, he/she must set measurable entrepreneurial goals, guided by what they aim to achieve and a reasonable timeline. Several young entrepreneurs have dreams of achieving more sales of their product, making more profit and having a powerful online presence. While these are valid goals that every entrepreneur should have, the problem often arises when they try to overlook the smaller, basic entrepreneurial goals that must be achieved before the larger ones become a reality.
This article is a reminder of sorts – for not just entrepreneurs, but everyone – of the basic goals to aim for that will set us up to achieve our larger, long-term ambitions.
- Put a price on your time: Helping out people in your niche who are struggling or just about to start and need some advice is fine, but when too many requests for help are being received on a regular basis, it may be time to place a price tag on your advice. While some may not genuinely be able to afford it, putting a price on your consultations have been known to halve the requests for consultation, showing that some people don’t think the advice you’re going to give is worth paying for. Don’t let this make you feel guilty though, the price you put on your services should not be exorbitant – remember you’re trying to thin out the herd, not eliminate it completely.
- Get the best team you can afford: The temptation to hire the cheapest workforce possible is one that must be fought everytime it comes up. Always look at the long-term effects of your hiring and go for the applicants with the best experience and skills you’re looking for. This also applies to the current members of your team. Ask yourself whether they are a team that are reliable, deliver good quality work and are vital to reaching your entrepreneurial goals.
- Make time to sharpen your saw: One of Steven Covey’s habits of highly effective people is the tendency to keep “sharpening one’s saw”. This means taking time out to improve your skills, develop yourself and constantly aim to widen your scope, regardless of how stellar your skill set is. There is never a time when being better at what you do will not be an advantage. Take a little time out on a regular basis to sharpen your saw, because the truth is – in today’s world of constant change, when we stagnate, we fall behind.
- Put your health first: For anyone interested in being constantly productive, you can’t ignore the strong correlation that exists between good health and productivity. Working yourself till you’re burnt out and getting back on the wagon just to repeat the same process is counterproductivity at it’s worst. Take care of yourself, eat healthy, exercise and get enough sleep might sound like the advice everyone is giving, but in truth, if you’re hoping to operate at your maximum, it’s advice worth taking.
- Find like minded people: Entrepreneurship is oftentimes a solo journey, but it pays to relate with people with the same motivations that you have. This could be a source of much-needed inspiration and can offer companionship, advice and support that will make you feel a little less isolated on your entrepreneurial journey.
- Allow your teams set their own goals: (And hold them accountable for the results). When every member of a team is on-board with the goals they must achieve, their work will be that much more effective. Instead of imposing goals on them, let them from time to time exercise autonomy on some projects and set their own goals (the right team will set the right goals). When they work, ask for updates on their progress from time to time so they know you care about the process and not just the end results. Holding your team accountable for their successes and failures will provide further motivation for them.
- Improve quality: Regardless of what your business offers – be it products or services, customers and clients want the best quality for their money and this should be part of your entrepreneurial goals. Improving quality is a long-term entrepreneurial goal which should never lose its relevance. As I mentioned above, when you stagnate, you fall behind. Always aim to improve the quality of your product one way or another.