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Setting Goals is Only the First Step

Entrepreneurship - Dave Ramsey
America's trusted voice on money and business, Dave Ramsey is a personal money management expert and extremely popular national radio personality. His three New York Times best-selling books - Financial Peace, More Than Enough and The Total Money Makeover - have sold more than 6 million copies combined. His latest book is EntreLeadership: 20 Years of Practical Business Wisdom from the Trenches.

Setting Goals is Only the First Step

Setting Goals is Only the First Step

Setting goals is a vital part of your job description as an entrepreneur. Whether those goals are focused on hiring, sales, or increasing income, they won’t work unless they each have five important attributes. Each and every goal must be: yours, it must be in writing, it has to be both specific and measurable, and it must have a time limit.

Like most small business owners, you probably want to increase sales. That’s a great idea, but the idea alone won’t get the job done. If you want to increase sales by 10 percent each quarter in the coming year, that’s a goal that can work. You can break down that goal into small portions and time frames — all the way down to step-by-step daily activities necessary to accomplish the goal.

Get Your Team involved

Establishing goals for your business is vital, but it won’t get you anywhere unless you share them with your team. This improves communication and unity, and the sharing process allows members of your organization to create individual goals for themselves.

Remember, there’s a good chance many of your team members have never formally set professional or personal goals for themselves. This process can motivate them to succeed in their professional and private lives.

Success vs. failure

When it comes down to it, all goals end up as one or the other. But if you increase your sales by eight percent, rather than the targeted 10 percent, does that make you a failure? No! Even if you missed by four or five percent, the important thing is you had a vision that moved your business forward.

Goals are there to push you and your team to achieve things you might not have thought possible. Even if you technically don’t achieve the goal, the process of moving forward was a success.

Make sure all your goals have the five attributes we talked about earlier. Share them with your team, and encourage them to set their own goals, too. By doing these things, you will create momentum that will propel your business into the future!

Read other business articles by Dave

Dave Ramsey is America's trusted voice on money and business. He has authored five New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover, EntreLeadership and Smart Money Smart Kids. His newest best-seller, Smart Money Smart Kids, was written with his daughter Rachel Cruze, and recently debuted at #1. The Dave Ramsey Show is heard by more than 8 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at

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