Effective Goal Setting Tips
And Secrets for Entrepreneurs
Prof. A. A. Aminu ayubaaminu6@gmail.com
08036410611
Goal Setting
For entrepreneurs, goal setting is an important part of business planning
Goal setting is the process of decidingwhat
you want to accomplish and devising a plan to achieve those desired results.
Entrepreneurs Main Goal
The main goal is not to make a profit but rather to create value,
to change how people do business, perceive things,
understand things, or to even
change how they live
5 keys to effective goal-setting
Develop a Clear Vision for the Enterprise,
On what to achieve or your goal(s) Write down your goals
Get Things Done (GTD)
Keep your eye on the goal(s)
Review, Assess, Repeat.
Reason for Setting goals
Setting goals gives you
long-term vision and short-term motivation.
It focuses your acquisition of
knowledge, and helps you to organize your time and your
resources so thatyou can make the most of your life as an
entrepeneur.
5 SMART GOALS
As an Entrepreneur, make sure your goals are aligned with the
5 SMART criteria
Specific
Measurable Attainable Relevant and Time-Bound
Benefits of Setting Goals
Goals make your life more challenging,but at the same time, they give you a sense of personal satisfaction.
Setting and reaching yourpersonal goals help you appreciate your capabilities, and
gives you an idea of your full
potential.
Impotance of Goal Setting for Entrepreneurs
Setting goals helps you to define your end game – what are you ultimately trying toachieve and in what timeline?
Setting goals gives direction to your life – knowing where
you want to go will make sure that you maximize your chances of success by
taking the appropriate choices.
Impotance of Goal Setting for
Entrepreneurs
Setting goals empowers you –
when you set clear goals you send a strong signal to the world around you that
you are fully focused and take inspired actions to move closer and
closer to those goalseach day.
Impotance of Goal Setting for
Entrepreneurs
Setting goals changes your reality because it helps you to forget about what you can do and what you can’t, and focus on what you really want.
Setting goals and achieving them increases self-esteem
Setting goals gives more confidence
and increases your abilities and increase your chance of success.
How to plan your life goals as an Entrepreneur
Make a list of your goal destinations
Think about the time frame to have the goal accomplished.
Write down your goals clearly.
Write down what you need to do for each goal.
Write down your timeframe with
specific and realistic dates.
Challenges of Goal Setting
Too Many Goals Time Allotment
Overwhelming Long Term Goals Fear of Success/failure
Not Focusing On Self-that you can do it
Talking too much
Barriers to goal setting
Barriers to goal setting could be internal and external factors.
Internal Barriers
Inappropriate Goals
Improper Reward System
Dynamic and Complex Environment Reluctance to Establish Goals
Resistance to Change
Barriers to goal setting
External Barriers
Lack of resources
Government restrictions Strong competition
Political situation Economic
condition
Steps of Overcoming Goal Setting Barriers
Understand the purposes and limitations of Goals and Planning.
Communication and Participation.
Consistency, Revision, and Updating. Effective Reward Systems.
Encouraging Change and Motivating Employees.
Being Ready for Future Contingency.
The Secrets to Mastering Goal Setting
Identify What You Want Justify Your Goals
Be Specific
Understand Your Own Potential
Don’t Stop When You Reach Your
First Goal but continue Don’t Worry If You Fail
Conclusion
In conclusion, an entrepreneur without a goal is like car without a driver. Which means you will drive nowhere and therefore the entrepreneur achieve nothing without a goal. The goal is a direction for today and the preparation for the future for the success of the entrepreneur.