Successful entrepreneurs share something in common: they set goals. A goal is like a target. You can have all the ammunition in the world, but without a clear target to aim for, you can end up shooting blanks.

I am a firm believer in goal setting. Each year I write a detailed Goal Plan and post it next to my desk. Having clear intentions and specific goals keeps me focused.  Some people do this at the start of a new year, while others use their birthday as the annual launching board. It doesn't really matter when you create your plan, as long as you get it done.

When you take a goal out of your head and commit it to paper, something magical happens. Not only does it solidify your commitment to achieving the goal, but it is the first step in moving closer to the target. Better yet, set goals that feel a little bit out of reach. These are the best kind because they push you beyond your limits. And while some goals may take longer to achieve than planned, with persistence you have no choice but to move closer to them, bit by bit.

Each year I review my progress and inevitably find that I achieved and even surpassed many of the items on my list. Throughout the year I keep a list of accomplishments as an additional way to measure progress and stay on track. Sometimes goals change along the way, and that's okay. They are almost always replaced by something bigger and better. 

To get started, write a bulleted list of goals you plan to achieve in the coming year. Following are some items to include in your Goal Plan as you embark on creating your best year yet.

Overall Revenue

I don't know of any business owner who wants to earn less money year over year. The point of a revenue goal is to reach for greatness-to pick a number that seems slightly unrealistic as incentive to find ways to reach that number.

Detailed Revenue Streams

Most businesses have multiple revenue streams based on products, services, internet income and other factors. Consider setting goals for each of your revenue streams. Some may be shifting with the economy and some may show more promise than others. Detailing specific revenue goals can be a fantastic way to prioritize where your attention should be spent in the coming year.

New Products and Services You Will Launch

As you detail your revenue streams, factor in new products or services you plan to launch. Companies don't grow by staying idle. They innovate and launch bigger, better products and services that lead to business growth. Continue reading...