For anything and everything you do in life, you must set goals. Goals help you to stay on track and follow through with your plans.
The best goals are SMART goals.
Goals can be categorized as Financial and Non-Financial Goals
Set specific financial goals before starting a business. Financial goals can include how much money you will earn and how quickly you will pay off debts. Make sure your goals are realistic. If one of your goals is to make large sums of money early on, you almost certainly will be disappointed. It usually takes time for businesses to become well established and profitable. Setting SMART financial goals will help you develop a realistic plan for earning a profit. Goals should be measurable and easily attainable in the time allotted.
Most people who own their own businesses do so for more than just monetary gain. They are looking for personal satisfaction. They may serve a community need, do something they like, or enjoy the personal independence. You will want to specify what nonfinancial goals you want to achieve by being an entrepreneur. Setting and meeting nonfinancial goals can help an entrepreneur live a more satisfying and fulfilling life.