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. Jack

      Thanks for the reminder, Eric. My short term goal is to learn enough to set up my own business domain by March 20th and to sell my first article by April 15th. Both those goals are part of a larger goal of having an online income of $1000 a month by June, 2009.

      Reply
    2. Rob

      Hi Eric:

      My short term goal is to finish your 100 lessons before the end of March 2009.

      Reply
    3. D. Porter

      Thanks Eric for the helpful lessons. My goal is to have a passport by may1,2009 for traveling purposes, to have my online business started by June 29, 2009. and have over 500 hits to my site by october 2009 http://www.deporterfunstuff.com with some help, and to be making at least 1,000.00 by April 2010.

      Reply
    4. Fiona

      My goal is to earn $100 per day from my online business by June 30, 2009.

      Reply
    5. Rema

      Thanks Eric for taking us through meticulously planned lessons which are very inspiring.Though my vision is to amass wealth, I have to be patient till I complete this entire course so that I can make plans to fix a target of 500 $ by September 2009.

      Reply
    6. keldubry

      Thanks Eric, my goal is to have a profitable online business up and running by 8/31/09.

      Reply
    7. BOB HALL

      Thanks once again Eric.
      My goal is to make my first big ticket item sale by 31st March 2009. Plan is to send out E-mails to my opt-in list.

      Reply
    8. Irving

      hello Eric
      my goals are:

      1.-To have the hardware,domain, hosting and software required as well as my first info producton on May 20th 2009

      2.-To have a $400usd Internet income by July 28th(my birthday) through the sale of info product.

      are we going to see in your lessons,ways to build an opt-in list..?

      best regards

      Reply
    9. Chris Harris

      So this is vital to EVERY on line business owner. Goals are the milestones for achieving vision. Setting goals IS the accomplishment of vision. The writing down not just cutting and pasting of actual realistic goals is essential. Chris

      Reply
    10. Sandy

      ONE GOAL: Have $8500 per month sustainable income through Internet marketing by 12/24/2009
      Objective 1: Earn 1st $100 through
      affiliate mktg by 03/31/2009
      Sandy

      Reply
    11. Andrea

      First goal is to understand and set up website to market a product by April 3,2009 and start generating income.

      Reply
    12. Rick

      Eric,
      My goal is to be generating $3000/month with my internet business, with your help, by June 1,2009.

      Reply
    13. Sharon S.

      Thanks for emphasizing the importance of a visual reminder of one’s goals.
      In my most productive efforts, I always had a “checklist” for each day….and after writing down everything I hoped to accomplish I’d prioritize each item by numbering them as to importance. Then I’d make an effort to accomplish as many items as I could. Then, take the unfinished list to re-arrange for the next day in the same way.

      Your “whiteboard” reminded me of just how much more I could accomplish with this method of handling “what’s next.” As I recall, it took very little time to “write down” these daily goals and it made a world of difference, just as you said it did for the Harvard grads in your lesson.

      So…one best chosen effort every day (except Sunday)to begin my marketing plans. As things progress multiple tasks will be easier one then another, on a written checklist.

      Tomorrow I’m opening a checking account for my new business, then a new merchant account to “monetize” future sales on my new site.

      A journey of a thousand miles begins…

      Thank you for the reminder.

      Sharon S.

      Reply
    14. bushwick jennifer

      My first goals is to reword my website to bring a large functionality to a wider audience by 3.29.09. In addition to spread the word about your site, which is a life saver. While at the bank today, I shared your site with the Bank Supervisor to give to her son who is a wise young man who would grow as a 11 year old in a good direction. You would be surprise the tips that are would inspire even the young and up incoming Eric’s

      Reply
    15. Sharon

      I’m so new that my goal today is to have my website designed, up and visible by May 1st. Then make $1,000 by June 1st, $5,000 by July 1st, $15,000 by Dec. 31st. I’m still working at my other profession. These goals may change by August.

      Reply
    16. Triston

      Set 1 Goal
      1. Complete ALL 100 of Eric’s lessons (do ALL the “actions”: do not skip a lesson or mix the order, or, deviate from the lessons).

      Reply
    17. chastimm

      To remain patient & complete the lessons and action steps (why does it take 100 lessons?)

      Have at least one website up & running by June 1st 2009.

      Create monthly income equal to one gross paycheck by Sept 1st 2009.

      Reply
    18. Eleanor Liggens

      To have earned $2,000.00 by April 30, 2009 and to have earned $100,000 by December 31, 2009.

      Reply
    19. Alice

      My goal is to replace my current income of $2000 per month and give my notice by June 17th.

      Reply
    20. Rick

      To understand Butterfly Marketing by 4/12/09
      To have a web site up by 4/19/09
      Long term Goal/Vision:
      To retire comfortably by 3/2011

      Reply
    21. RUDOLF HENRIQUEZ

      HI ERIC.

      SPEAKING OF GOAL SETTING.
      LIKE YOU SAID IN THE PREVIOUS COMMENTS I PROBABLY STATED MY GOAL AND VISION.
      OK, MY FIRST GOAL IS TO BECOME A SKILLED INTERNET MARKETER AT THE END OF THIS SESSION OF YOUR “ERIC’S TIPS”. MAYBE YOU CAN HELP ME WITH THE DATE!
      REGARDS!

      Reply
    22. Ayiee

      Hi Eric, Thanks for the lessons! I know I am a couple days behind, but today I will catch up. My goal is to make $10000 online by December 30th, 2009.

      Reply
    23. Darla

      My first goal is to watch and follow all 100 of Eric’s Tips, while finding a system to jumpstart my online business. Doing research without getting discouraged, until I find the system or product I am comfortable with or that “speaks to me”.

      Reply
    24. Elenor

      My first goal is to put myself in a position where I can afford to buy a 375K house for myself, and a couple more for my kids, by Christmas, for Christmas 2009

      Reply
    25. Mu Hsuan

      My Goal to Achieve Before 2009/6/30, listed according to priority:
      1. Choose my target markets and products: Finish market research and find out what my customers need, the cost & profit with that business, what competitors I may encounter and how to win. Make a wise choice according to these information.
      2. Build up my business website: Find appropriate web host and DNS, build up attractive content and design, include necessary functions and services, clear and safe applying & billing system on my website.
      3. Set up effective marketing system: Determine the strategy and method for marketing, examples may be e-mail marketing & newsletter, Adwords & SEO, Advertisement on online marketplace, blog or site listing, social network, copywriting. Then REALLY execute them. Having ever increasing new customers and returning old customers everyday!
      4. Set up exact schedule each day on when and how long could I work on my online business.
      5. Start having income higher than cost!

      My Goal to Achieve Before 2009/8/30, listed according to priority:
      1. Having steadily increasing income each month!
      2. Earning at least more than 2000 dollars!

      Reply
    26. Stan

      Hey Eric,

      My goal may sound a little petty in today’s internet world, but because of all the past failures, or maybe I should say non start-ups, I feel I just need to attain my first goal and the others will come a little easier once I have a plan.

      O.K., here it is:

      -To make $1000 in the first 30 days of my on-line business.

      Thanks for all you are doing to help,

      Stan

      Reply
    27. Joan

      My goal is to make enough (500K)to get completely out of debt.
      asap

      Reply
    28. Timothy

      My first goal would be to earn a consistent $1,000.00 profit in online sales each month by 31st August 2009.

      Reply
    29. Brent

      Eric, My goal is to have my business up and running as soon as possible and to have made 100,000 dollars by January of 2010.

      Reply
    30. Faye

      Hi Eric,

      My goal is also about money..
      I want to have learnt all your lessons and get my online business up and running in the next 6 months – by December 2009 have earned £10,000.

      Reply
    31. Denyse

      My goal is to have 5 websites offering products centered on health & fitness and making money through internet marketing fully functional and optimized by Sept. 1, 2009. In order to do this, I need to finish Eric’s course by June 1, 2009 and learn all of teh SOSC software by July 15th, 2009.

      Reply
    32. Patty

      My short term goals are #1 to learn what all the network words mean by Fri. May 8th. 2nd is to earn 1,000 my first month after completing this course. 3rd. I will make triple that amount by the 2nd month after finishing this course.

      Reply
    33. Joseph

      Hi Eric,

      I’m very favorably impressed by your lessons and I understand the importance of setting a goals, but if you don’t yet have a clue what is reasonable and attainable how can you set a reasonable goal? I can say I first want to set up my website, build a list and get traffic to the website and make a profit of $1000 by August 31. but since I don’t know how I’m going to go about achieving this goal, I don’t know if this is reasonable or a shot to the moon! I have to have some more info on how to achieve a goal.

      Reply
    34. JoAnn

      My first goal is to finish my writing the draft of my ebook “Sorbets with Spirit” by June 30th. To accomplish this, I will set aside 2 hours every morning from 10am-12noon.

      Reply
    35. Milton

      By Aug. 1 2009, I have a profitable campaign of at least $100 per week in an affiliate network.

      By Sept. 1 2009, I have profitable campaigns of at least $100 per day in an affiliate network.

      Reply
    36. D. J. Campbell

      My goal is to build a successful website by the end of July 2009, while learning the marketing strategies to be a successful marketeer by September of 2009.

      Thanks Eric for your great advice.
      D. J.

      Reply
    37. Wesley McCorkindale

      By Sept 30, – Enjoying the security of $10,000 per month income

      Reply
    38. laurie

      My immediate goal is to apply what I’ve learned and generate an income of $1000.00 per month as soon as I’ve learned what else I neeed to do to get this done right!!

      Reply
    39. John-paul

      By 20010,I want to become a billonair in other to be walking on dollars.

      Reply
    40. John-paul

      By 20010, i want to be walking on money, by becoming a billonair.

      Reply
    41. Pete

      Hi Eric,
      My goal is to complete all of Eric’s lessons, while taking notes, and have a written business plan by August 31, 2009.

      Reply
    42. Richard

      Hello Eric, I have found your lessons very enlightening. I am not as young as you. I have done this before but I failed to continue writing and making bigger and more defined goals. I have masterminded in the past and completed all my goals and then due to my own fault I lost every thing. I have learned a lot thus far. I will before the end of every year take out my old goals and cross off what I have done and rewrite the ones I have not completed and make them very exact and change them and date them. It feels great to start new with more knowledge thanks to your lessons. My first task is to make my first thousand dollars on line in the next 60 days. I am willing to do what ever it takes to reach my goals. I will review and follow your lessons, and go back and watch as many times as I need too. I have a back round in the Health industry. I want to make information products to help solve people’s problems. I will have a news letter and build a list with your help. I want to have a membership site as well as branch off to an ergonomic information web site. I want to create a coaching practice so I can help people with specific problems. So I want to make and get one site up and running and have a place for people to ask specific problems and start making information products to solve problems that people have. I have no limits but I do want to make or get into profit mode very fast. I have been on the web for about four years and have seen many problems that need to be corrected. Make a website with your help. Make information products for all people. Learn how to improve and do it. Then keep putting profits back into business and make at least seven income streams with in 9 months. My first site I will make no less then $2,000.00 dollars in first sixty days. Improve that site to make $10,000.00 dollars in the next sixty days. And make a new web site every three months with each making $4,000.00 in first ninety days. I want to learn how do keep them going on auto polite, making adjustments to improve my result and increase my sales. I want to make $600,000.00 my first year and then keep increasing that amount so I have made over 3,000,000.00 dollars in first two years. I want to watch every thing I do and make changes to reach my goals. I want to be in the black with no debt and have $300,000.00 dollars in the bank at the end of the first year. I must never do what I have done in the past and not review and make new goals, checking every three weeks or months to stay on track with my goals. I want to have reached these goals by 6/1/2010 because I am just starting now. If you read this Eric and have the time all and any feed back would be much appreciated.
      Thank you,
      Richard……..

      Reply
    43. Eric Post author

      It sounds like you have gained a lot of wisdom in your life 🙂

      I think 600k for 1st year is definitely ambitious. It took me several years to get to that level. It would be unusual, but some marketers have done it. Hopefully my lessons will cut down your learning curve.

      Reply

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