The most discouraging part of being a business to me is not reaching business goals, this can be for several reasons. I’ve found that being scared of success (I know that might sound silly to some but it’s true.) Family issues or not strategically making the goal a reality.
Create Realistic Goals
One of the first things you should consider when creating a goal is ensuring that the business goal you have is realistic. What do I mean by realistic? Are you currently working in a salon and have a booth rental. Your business goal is to purchase/ rent your own salon in six months.
The first problem you may run into with this goal:
You do not have the revenue coming in to support this goal and/or have no money saved.
You don’t know your credit score. In order to possibly get financing to purchase the space.
You do not have a business plan to present to the bank in order to get a loan to purchase the space.
This could possibly be a realistic goal for you if:
have secured financing.
Review revenue and based on that amount determined when is a realistic date to purchase you own salon.
In the meantime, work on your business plan (create a business plan if you do not have one)
Visit annual credit report site and review your credit free report to see if anything on your credit report will hinder you from possibly getting a business loan.
Check the qualifications for an SBA loan.
Know if you’re going to rent out your booths and how much you’re going to charge.
(If you qualify) sign up for the IDA program and start saving for your goal.
Create Time Focused Goals
When creating a business goal you should have a timeline of all the events that need to happen to make your dream a reality. If your business goal is a year from now. You should have micro monthly goals/to do list. These items should be broken down to categories (Monthly, weekly, daily) i.e. January I need to check my credit and speak with a financial adviser. Weekly, I have to attend business classes and workshops that are geared to owning a business. To gain knowledge and experience. Daily, I have to promote my business on various social media outlets to organically grow my following.
Hiring Help When Needed
I’m a huge fan of finding affordable stuff. Like house ware items. However, you can’t put a price on getting, it done right the first time. For example, if your business goal is to re-brand your business and purchase new marketing material. You have to decide if it’s really worth it to wait for you to have time to do it or even wait for friend or family to assist you or possibly hiring assistance. You can do anything you put your mind to. But you can’t do everything. Hire a professional when needed and get things done right the first time around. I hear so many horror stories of people hiring someone to design their website and eventually having to pay a professional to get the job done.
Created A Tribe of Supporters
A lot of times business goals are not accomplished because you find you’re not motivated to accomplish the goal, you found someone who launched the same idea before you. It’s very important in business to have someone who naturally gets it. It can your spouse, friends and family or even a virtual buddy or business bestie. Finds someone that gets it and allow them to be a part of your support team.
Also, Review what has hindered you in the past from accomplishing a goal. If you currently still have the road blocks maybe you should consider different alternatives.