LESSON #14: Setting Goals for Your Business

By | July 18, 2008

In the previous lesson, we talked about getting a vision for your business.

A vision is the big picture of where you want to go. You need to have a vision, otherwise you won’t be motivated, and you won’t have a clear direction for your business.

However, a vision needs goals and plans to go along with it…

(Watch this video…)

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Main points:

  • Vision vs. Goals. A vision is the big picture of where you want to go; a goal is a specific milestone that helps you get closer to your vision.

  • Important requirements for goals:

    1) they should be specific (measurable)
    2) they should be serious, but attainable
    3) they should have a deadline

  • For example: a goal may be to earn $10,000 of net profit before December 31st.

  • VERY IMPORTANT: Write your goals down, and keep them in sight.

  • (Story about the Harvard MBA graduates…) Those with written goals made 10X the income of everyone else combined.

  • I use a whiteboard… but a piece of paper is fine too.

  • You can have short term goals, long term goals, and everything in between.

  • Re-evaluate your goals periodically.

  • When you reach a goal, be sure to celebrate for a few minutes before setting the next goal.

    Action steps:

    1) Write down one goal, and put it somewhere near your computer.

    (Also please post it in the comments below)

    It should be specific, attainable, and it should have a deadline.

    Keep in mind that you will need to keep setting new goals for yourself as you build your business. As you continue with these lessons, it will become more apparent what your goals should be, so write them down frequently as you go through the process.

    Now you will need to develop a plan for reaching your goals, and I’ll be talking about that in the next lesson.

    As always, you are welcome to post your questions and comments below.

    Have a great day!

  • 878 thoughts on “LESSON #14: Setting Goals for Your Business

    1. Wayne

      Hi Eric,
      My goal is to be consistently earning $200 per day by Dec.31st 2011.

      Reply
    2. Micah

      Hello Iain,

      It’s always good to keep the vision in front you. You might want to try using post-it-notes or something similar. You could put reminders on your bathroom mirror, steering wheel, refrigerator door, or other frequently seen item.

      It’s also good to cut out all of the distractions. It’s amazing how much freer you are to achieve success, when you determine the obstacles to your goals and remove them.

      Reply
    3. Susan

      Hi Eric,
      My goal is to have my website up and live bring in income by April 15, 2011

      Reply
    4. Bertram

      My goal is to be making $100 daily on the internet before the end April.

      Reply
    5. Georgiann

      #1: Have 1-2 Niche markets, business entity, support systems, video blog and all sustaining equipment set up and ready to get traffic by une 1, 2011.
      #2: Acqire mentor to assist in building email list, traffic to earn 5 figure a month by 8/2011.

      Reply
    6. Martin

      My short-term goal is to earn $2000 per month from my online business by 30 June 2011

      Reply
    7. Robert

      My one goal is to have my IM Biz up and running and earning me at least $3000 a month by the end of this summer August 31 2011, so I can quit my slave job for good.

      Reply
    8. Champ

      My goal is to own a business connected with writing, which earn the same monthly income which I am earning now from my job by the end of this year(2011)

      Reply
    9. Mark

      My goal is to have my online business earning income over 1000.00 per month by August, as I do not yet know enough about it to plan the timeline any sooner.

      Reply
    10. Randall

      My initial goal is to double my “consistent” monthly online income from $50 to $100 by May 15th 2011.

      Reply
    11. Steve

      Since I already have a successful business but lack in vision, goals and planning, my primary goal right now is to get through this part of the course and have my first info marketing website up by May 13th 2011. Special thanks to “The Real Guys” for my first info marketing product!

      Reply
    12. Robert Douglas

      My goal is to payof the house for my wife by 04/15/2014 $319,900 so I will put $8,886.11 a monthly back for this goal
      2. Goal is to give $100,00 to my church by 6/01/2013
      3. To have my business up in run makeing $30,000 a monthly take home

      Reply
    13. Gary Hudson

      My goal for now is to:Pay the mortgage & homeowner’s insurance with income from my business by Thanksgiving da

      Reply
    14. leramoh mustapha

      my goal is to lunch my service base web site by june 6 2011, which is my birthdday.

      Reply
    15. Andy

      My first goal is to earn an average of $100 per day from my Power Testing Profits course within 90 days. At $37 per unit, this means approximately selling 3 units per day without an affiliate commission or about 6 units per day at a 50% commission.

      With a sales page converting at 1% it would take sending 300 – 600 people to the sales page every day.

      Reply
    16. mike

      My first goal is to earn $1000 per month within the first three months online.

      Reply
    17. nzela

      i have set my goal to pay off my mortgage by the year 2014

      nzela

      Reply
    18. Paul D

      My short term FINANCIAL GOAL
      $5,000.00 net income per month beginning today 04/26/2011 and continuing for the rest of my life. This means $3,260 net income from my Affiliate Marketing Business. Target date for this net income is October this year 2011
      http://improvemyself.webs.com/

      Reply
    19. Pudjo

      *My Short Term Goals (until end of 2011):
      —————————————-
      1) By 05022011 finishing and setting-up my first affiliate marketing squeeze page.

      2) By 05092011 tweaking my squeeze page and earning my first affiliate commissions (target not more than $50.-)

      3) By 05162011 setting up 3 additional squeeze-pages and tweaking them, with an earning expectancy in affiliate-commissions between $100-$200.

      *My Intermediate Term Goals (until end 2012):
      ——————————————–
      +By the end of 2012 – learning more & becoming an expert in Affiliate Marketing and getting more commissions by promoting other people’s info products. Earning Targets $1000.-/month (or more).

      *My Long Term Goals (3-5yrs):
      —————————-
      +By end of 2012 – Mastering Affiliate Marketing strategies and tools, becoming an expert in affiliate marketing – plus creating my own info products, as well as doing marketing/promoting (other people’s products). Earning Target $15K-$20K/month.

      Lo and behold – These are my targetted goals.
      Regards,
      Pudjo.

      Reply
    20. Darminto

      Thank for the time frame and items targeted, Eric! Those can make us evaluate every “project” we did.

      Reply
    21. Pamela

      My goal is to complete each of Eric’s 100 lessons. I will not buy any other internet guru products or wander away from this training until it is completed. NO MORE CONFUSION because of too many choices.

      Reply
    22. gerald

      from gary i have been in the closeout business for thirty years maybe that could be my niche i dont know i do have a passion for magic how would i do somthing with that i had a kiosk in vegas selling magic tricks but paying 5000 a month for two kiosks knocked me out of business i had to shut them down i dont know i want to make money on line need a little help here

      Reply
    23. Rose

      Hi Eric, my first post on this very informative blog from which i am learning alot!Greatly appreciate it:)
      My GOAL: Earn £100 per day by June 5th 2011. A month from today!

      Reply
    24. Larry

      Just finished lesson 14. My goal is to get to lesson 20 by sometimes tonight. Starting tomorrow to get up first thing and do devotion. Practice on piano for 30 minutes each day.

      Reply
    25. Joe

      My first goal is to make about 5,000 with an eBook on a website that I make from homestead.

      That goal can be broken down into smaller goals,

      1. Get about 10 dollars and print my eBook out at staples and revise it about 3 times. Then completely finish my eBook and turn it into a PDF.

      2. Get some more start up capital of about 50 to 100 dollars and put it on a debit card.

      3. Sign up for homestead.

      4. Make a sales page and a thank you page for it. And make about 10,000 total to start.

      5. Do all of this by the end of this year.

      Reply
    26. nimal de silva

      Hi eric I have lerned wonderfull lessence.thanks a lot.my goal is having fermernet income monthly as 1000usd from internet business,before end of june 2011.Nimal de silva

      Reply
    27. Anna

      To buy my own laptap without going into debt. Right now I am using my daughters Apple Mac Book Pro and she will be taking it with her to Europe in July.

      Reply
    28. Dennis

      My goal is to complete the 100 lessons – see Pamela above.
      Short term goals are – write the ‘irrestable offer’ and commence promoting my present business. I started this one today 5th july ’11

      Reply
    29. Chris Downs

      My First Goal is to Monetize hisfarm.co website and make my first dollar online. Goal #2 is to continue with the training and finish it by July 30th 2011

      Reply
    30. Anonymous

      My first goal is to have my first internet businees up running and making money by 8-12 my oldest sons birthday so i can show him the light at the end of the tunnel

      Reply
    31. Wayne Beale

      be generating $100 a month doing affiliate marketing by the end of august 2011… today’s date is july 27, 2011

      Reply
    32. Agnes

      Decide what online business to do and start an online business by August 31, 2011.

      Reply
    33. Nombulelo

      My first goal is to have my first affiliate marketing website up and running by December 2011. Earlier will be better, I’ll try. That means from now I must take the steps to set up a website, write my sales letter, look for affiliate companies like Amazon and get started. I am looking at my first income of $500 by end of January 2012.
      My second goal that I will work on simultaneously is to develop my ebook and have my first ebook website up and running by January 2012. I want to earn at least $1000 a month by March 2012 from this website and $2500 per month by June 2012.

      Reply
    34. Nombulelo

      A most important goal I forgot to mention is to accelrate my learning process. Eric did a grat job providing in an earlier lesson a list of things one has to learn. I now realise that part of my pproblem has been failing to make enough effort to learn these computer skills that I need resulting in me suffering from what I call “technophobia.” My goal is to overcome this handicasp by learning.

      Reply
    35. Anonymous

      I would like to know if I should start learning spreadshhet now or can it wait.
      I started lesson 1 I believe 3 days ago and am now on lesson 14. I go over the terms 3-4 times a day. My goals are to learn spreadsheet iby 10-5-2011 and to make 2000$ on line by 10-24-2011. any wordsw of wisdom will help and I would be thankful for.Steven Hull

      Reply
    36. Polly

      My goal is to watch all the Eric’s Tip’s Lesson’s and set mini goals for completion of all the action steps by December 31, 2011.

      Reply
    37. Micah

      While there are an infinite amount of things that you can continually learn about spreadsheets, you can always start small!

      Why not set a goal to learn several things about spreadsheets, before a certain date!

      Reply
    38. Scott Worthington

      Pay my brother, Rusty, $25,000 by October 31, 2012. He lent money to my franchise business when we were struggling. Ultimately, the business failed and he lost his money. I want to repay him.

      Reply
    39. Hanan

      My goal is to run a successful internet business that brings in at least $1000 a month by March 2012, and $3000 a month by the close of 2012.

      Reply
    40. Anonymous

      My first goal is to earn my first $100 online by December 31, to prove to myself that I can do it.

      Reply
    41. Ermine

      My first goal is to earn my first $100 online by December 31, 2011, proving to myself that I can do it.

      Reply
    42. Major T

      Hello Eric and everyone,
      My most immediate goal is to have a web site up and running,generating income of $100.00 per day free and clear after expenses by Dec 23rd 2011.

      Reply

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