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Achieving Your Home-Based Business Dreams: Setting Goals for Success

Updated on April 24, 2017

My dream was to make a $100 or more so that I could get the new point-and-shoot film camera that I saw in the back pages of Boys Life Magazine. The goal was to sell at least 250 packs of flower and vegetable seeds to all my surrounding neighbors.

I was out of school for the summer so my entrepreneur aspirations were in full bloom. I wanted to achieve the goal of selling over a $100 worth of garden seeds. Such bold activity is how I kept excitement in my summer life.

In the country, almost everyone has some type of garden. Therefore, my target audience was already set and waiting.

After I received my shipment of garden seeds from Boys Life Magazine, I set weekly goals of selling at least sixty packs a week. Transportation was tight, so I had to walk down a few dusty roads for miles at a time. Sometimes I was lucky enough to ride my bike, which broke down from week to week.

Nevertheless, I systematically completed my goal of about 50 to 60 combined packs of seeds a week. I save whatever I made. At the end of six weeks, I had met my goal: about $106 dollars. I had enough money to buy my camera and a few dollars left over.

Setting goals for your home-based business are vital to its success. Without the knowledge of where you want to be five to ten years from now is to blindly surrender to chance. With such mentality, you may or may not make beyond six months in the market place.

Home-based business, regardless of the size, should have a reliable business plan and goals for reaching milestones. Here are a few important tips for starting your home business on the right path.

Focus on what you want to achieve. You need to know what you are attempting to achieve. Knowing what you want to achieve will give you an idea of what sort of goals to set. You need to set goals for every stage of your home-based business, including from concept to completion.

Motive for a Home-based Business

Before starting a home-based business should ask questions about your intentions. Do you want to help people solve their financial problems? Do you want to help people get healthy informing them of natural herbs? Do you want to help build a great community where children can play safely in their own front yards?

Be crystal clear about what you want to do. Avoid the idea of telling yourself that you are only in the business to make money. This would be a mistake. Instead, you should be passionate about what you are doing so that your potential customers will feel your excitable energy.

Once you know what you desire to achieve, you are ready to initiate the process of bringing to reality a home-based business.

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Necessary tools for a home business

Secure the necessary resources to operate a home-based business. In addition to equipment and supplies, you need funds to run a business, regardless if it is home-based or in a brick-in-mortar facility. A clever idea is to have a sizable amount of savings built up and laid aside for taking care of essential expenses.

Have a thorough knowledge of your target audience. Without a good understanding of the people, you want to help you will suffer disappointment. You must be keenly aware of the needs of your demographic or else. Just imagine attempting to sell to people who don’t need your product or service. You will waste time, money and effort.

Implementing Your Home-based Business

Establish a communication channel. The people you are attempting to reach must know that you exist in the marketplace. Fortunately, when I sold garden seeds I knew all my neighbors and they knew me also. Therefore, the communication lines were always opened.

Reaching Milestones

Once you have gotten you home-based business up and running you should set both short and long term goals along with milestones you desire to reach. For example, in five years, you may want to have:

  • A hefty annual revenue
  • A successful facility beyond the home
  • A highly talented project team
  • A loyal and sizable customer base

But once again, you must make yourself known. You can do this in a variety of ways, especially using today’s technology. For example:

You can get a niche website. Thousands of website designers are available to design a website specifically for your product or service. The benefit of a website is that you can be discovered by thousands of people all over the world, not just your local community.

If you have a website, it is vitally important to join several social media sites, including LinkedIn or Facebook. Participate in the conversations of people who are doing what you are doing and make connections. You can share ideas and reach thousands of people a week without leaving your home.

Making yourself known doesn’t stop with a website. You can place ads in the local newspaper. You can contact the local radio station or send out flyers or newsletters. You can even do face-to-face street meetings, approaching people, introducing your business and passing out business cards. The old fashion way of meeting potential customers still works.

The significance of goal setting in your home-based business cannot be overstated. The process of setting goals propels you toward your dreams and brings them into reality. Avoid the attitude of procrastination and indifference when it comes to setting goals. Otherwise, you will regret it when everything falls into chaos and disorder, including your expenses and financial health.

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