Are you thinking that if you set higher business goals and commit to them, you will for sure achieve them? Sometimes you can succeed, but many times you will fail.
Simply, I do not believe in only high-level business goals and commitment. Commitment to achieving goals is an important factor in the success of an entrepreneur. However, I do not think that the goal will be achieved if I set a goal to sell one billion dollars as a small startup business in one year, and I commit to that goal to achieve. It is not possible.
We need to be more realistic. For example, the goal to earn 100,000 $ is more achievable than one billion in the same year.
On What Depend Your Business Goals?
There are many factors and elements in the business world which have influence and regulate the achievement of your business goals. However, in this section, I will try to briefly present a few of them.
1. You as an Entrepreneur
Since goals are set by you as an entrepreneur, it is normal that they will affect you in the first place. On the other hand, an entrepreneur as a small business owner is the central point around which everything else is running, and it is normal to start with the wishes of the entrepreneur. After that, you can continue adapting to other factors to have really achievable goals that will ensure your business growth.
2. The Industry
Except for entrepreneurs here is an industry in which the business operates. The goals cannot be significantly higher than the industry average. Yes, you can succeed to go higher than the industry average, but it will not be at extreme rates.
3. The Market Where Your Business Operate
Every business operates in a certain market. The market has some quantity limits. The growth of the market is defined by its growth factors. We cannot expect to meet goals that are at a much higher rate above the market capacity.
4. The Quality of Your Products and Services
The quality of your product and/or service that you offer on the market will affect the achievement of goals that you set. You may want to achieve something, but if your quality is without the potential of achievement of your dreams, the story ends here.
5. The Availability of Resources
Resources are another factor affecting the achievement of your goals. Whether it is financial, material, human or informational resources they will affect your goals and their achievement.
What the mind of man can conceive and believe, it can achieve.– Napoleon Hill
Your Business Goals Require Objectivity
Therefore, the first step in ensuring the proper development of your business is to be objective and that objectiveness to be involved in setting up your business goals. All the above-mentioned factors should be taken into account (and not only they but all that in a given situation may affect your business).
I have seen goals for the implementation of new software that is unrealistic and now almost a year late in implementation. The major factors about that situation are the intellectual capacity of an organizational system, the influence of bureaucracy, inadequate management of projects, and inadequate planning and forecasting of the future.
So, you should not restrict only the above five factors because a different situation requires consideration of different factors.