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. RobT JoneS

      I have a hard time with this but i want to get my website up and going and then start making some money.
      Thaanks Eric these lessons have helped me!

      Reply
    2. Eleanor Harper

      Hi Eric,

      Thanks for the video. In past years I have made many goals and have obtained them. However life does not always go the way you plan. I am up in years and have retired but not with sufficient income. My goal has been to pay off my second mortgage and have enough money to pay for an apartment in Texas to visit my 5 grandchildren several months thru the year. I am a very hard worker and once someone shows me what to do, I can run with it. My vision is to always have enough money to help out others when they are in a hardship. I wanted to make at least $500 by the end of this month but I need more guidance in what to do. When do we actually get to the know how of what to do to start bringing in some money? I have almost completed my website and hope to publish it in the next few days. I also have lenses on squidoo but my name is just not getting out there yet. Thanks for all you do. God Bless!!

      Reply
    3. Larry

      My first goal is to complete all of Eric’s 100 lessons by december 31, 2009 and fully understand these lessons.

      Reply
    4. Pam

      Hi Eric:

      First goal – learn everything I can from Eric’s tips. I find it hard to to set goals with deadlines for a buisness with the variable of not knowing when the information that is req’d for us to get started will be presented.

      However as soon as we have the information we need we are set to begin our first adventure and all the players are on board and ready to start the game.

      Our Mission: To function as an Internet Marketing team that will revise an exisiting website that ranks low on the search engines and has generated 0 profit in three years.

      The goal: Turn exisiting Website into a profitable Website Buisness.

      The Problem: The exisiting site is a nice buisness greeting card that is hard to find on the internet. And, offers nothing for sale but only suggests that she has service that will make a differance but without a way to close the deal or sell anything else. In the information age most people are not willing to wait two months while you work them into your schedule.

      Owners statement: The website is three years old and no-one has ever been able to tell me why it does not generate income. Thank-you for being honest.

      Solution: To re-establish its ranking on the search engines and turn it into a profitable Website buisness. Through affiliate links, as well as products for sale in her niche marketplace, and give her the ability to close the deal on her seminars through various selling techniques.

      God Bless and thanks for all your help.

      Pam

      This will be a wonderful opportunity to begin using Marketing tools and strategies while we are developing our own product.

      Reply
    5. Bruce

      Goal: Cover all of Eric’s lessons to date, thru lesson 42 complete by 6/22/09. In the process I will gain a very good understanding of internet marketing business and will have or be ready to take step one in getting my business started.
      Signed Bruce

      Reply
    6. Louise Cox

      Eric–

      In an earlier lesson, you mentioned that the tires would really hit the road in lesson #16. With this in mind, I made my first goal for this business venture as:

      I will have my info website set up and bringing in money by 30 June 2009.

      This goal is a challenge because I have not yet found an informational product that I feel is something people actually NEED! With all the money-making schemes out there, I am terrified that I will promote something that is less than ethical or worse. I guess it all comes back to who can you trust as the source of your product. I do not like the website I created through HomeCash. I hope you can help me change it to something I can believe in. The way I understand the process at HomeCash is that I cannot even click on the products being offered to see if they are honest enough to deliver what they promise. What can I do?

      I am very pleased with the suppliers I have for my home decor products. I have ordered things for myself and been very pleased. I have also completed some eBay orders with these items and my customers have been very pleased with the products. I have 100% positive feedback, which says quite a bit! I want this same confidence in my informational website. If I can’t do honest business, I do not want to do business at all. However, without a lucrative business, my life suffers. I need to know I’m in a WIN-WIN situation.

      Louise

      Reply
    7. Fausto

      Hi Erick
      As sit here lisening to your vedeo at the age of 47 dont hve anything to show in my life my goal is to como out of this bad economic crisis by the end of this year

      Reply
    8. Terry W. Clark

      Eric..My goal is: to have a 4 figure income of $5000.00 by Dec. 1, 2009.
      Thanks again…Terry W.

      Reply
    9. Ludlow

      Eric, my 1st goal is to complete all the lessons in sequence and apply them to start an on-line business.
      My 2nd goal is to be making $5,000 per month by Dec 31, 2009 (in this business).

      Reply
    10. Audrey

      Hi Eric, I want to focus on my website and learn all the technicalities of building and running an online store by 30th July 2009. My next goal is to earn $3,000 per month from affiliate links radiating out from my website, by 31 December 2009. Thanks for your videos, they really help me to stay focussed.
      Audrey

      Reply
    11. Brooke Martinez

      My goal is to have a million dollar business by the end of this year December 2009. I would like to earn at least 20,000 per week by the ned of this year Dec. 2009.

      Reply
    12. Jim

      My goals are to:
      1) figure out how to accomplish and then start generating/getting traffic to my website
      2) earn my first dollar by August 1, 2009
      3) make $2500 per month by December 31, 2009
      4) pay off $15,000 in credit card debt by December 31, 2010
      5) make $250,000 per year by December 31, 2010
      6) pay off my $182,000 home mortgage by December 31, 2011
      7) Be able to take vacation trips wherever and whenever I want by June 22, 2012
      8) Have $1.5 million in savings by December 31, 2012
      9) Have at least 5 affiliate sales sites earning money automatically, each earning at least $25,000 per month by December 31, 2012
      10) open a non-profit soup mission/housing tract in Albuquerque, NM by December 31, 2013

      Reply
    13. Anne

      My goal is to make $5,000.00 in the first month I have started. Todays date is the 8/7/09.
      I have written this goal down plus the date so I will know if I get there and will let you know. Thanks.

      Reply
    14. Amelia

      Hello, Eric!

      First of all I would like to say Thank you, for your way of teaching and your honesty..I can see why Our Heavenly Father has Blessed you…
      Eric, I have a question. was wondering if you can suggest were i could go launch and invention that i have… i know it would be successfull and any help on how to contact patten comapany’s or manufacture to make my product and also how to find a distribution center… would be so helpfull,,, i plan on selling all over the internet..Could use some ideas thanks

      Reply
    15. Rangi Eparaima

      Hi Eric and other goal setters,my goal is only to earn enough money online to live comfortably and not have to carry on working again for the rest of my life.To obtain this I would like to earn around $3.000-$5.000 weekly cheers.

      Reply
    16. Suzy

      My first written goal is that by September 1, 09, I will have my first web site up and running plus my first affiliation. Cool, huh?

      Reply
    17. Doug

      Eric, these are the goals I am setting for myself:
      1) Launch online business by 7/31/09
      2) Earn 3-4K per month through rest of ’09
      3) Earn $150,000 for 2010
      4) Pay off all credit card & other debt (currently app. $50K) by end of 2010
      5) Purchase current home we live in by end of 2010
      6) Have business set up to earn enough so that my wife no longer has to work by end of 2010

      Those are short term goals for the following 12-18 months, and when I successfully achieve those goals, the long term will take care of itself… Thanks !!

      Reply
    18. Maurice Tobin

      Goals# To launch my online business buy 7/31/09

      To become a student of online marking, and place a automated system in place.

      To Create a residual income from my online business by 12/31/09

      Reply
    19. Janet

      My first goal is to have a website. My deadine is Wednesday, July, 22 09 (I have 3 1/2 days)

      Reply
    20. Paul J Miller

      To make $600 a week by Aug. 15,2009.
      Hello fellow Tipsters. I’m brand new at this.
      I tried to start with a emarketing program but they won’t respond to my emails so I may be out of that program.Maybe they will refund my money someday. I am really enjoying Eric’s Tips. I’m sure they will make me a better newbee.

      Reply
    21. Ken

      Thanks Eric:
      My vision is to live in a beautiful, spacious, well-kept home that is paid for, that will allow us to accommodate friends, colleagues and family members in cozy comfort whenever they come and visit.

      My vision is to be able to travel at will, be it for visits, events, or exploration, to be able to create and finance opportunities for the advancement of great theatre and film projects, and for myself and many of my fellow actors, writers and directors to pursue our creative dreams.

      My vision is to achieve this through a business that utilizes my writing, teaching, presentational and performance skills to empower others to solve their problems. achieve their goals, and lift themselves out of the mire of mediocrity… a business that allows me to wake up each day and look forward to doing things I naturally love to do, as well as things I have learned to love! Therefore, although I would definitely embrace outsourcing and autopilot where necessary, my goal would never be ‘not to work’ – I want to be forever facing new challenges and rejoicing in fresh accomplishments. This business must have multiple income streams to generate a combined total in the neighbourhood of £600,000 to £1,000,000 yearly, which will allow for continued investment as well as spending.

      Immediate goals: My first goal is to finish my infoproduct and launch a successful WSO within the next 10 days, to be followed closely by at least 4 others in succession, allowing 10 days prep for each one. At the same time I will be building a site to begin marketing my voiceover service.

      Midterm goals: By the end of September 2009 my goal is to be pulling in £3500 per month and rising steadily.
      By the end of December 2009 I intend to have a firmly established income of at least £5000 per month and rising.

      Longterm goal: By the end of July 2010 (one year from now) through further investment and training I will have established the means to double my income every six months until the level of my vision is achieved.

      Ken Williams, London, UK.

      Reply
    22. Darla

      On Monday 7-27-09 I am having a co-worker show me how to set up a website..I would like to have it up and running by my birthday on 8-11-09. Just two weeks away.
      Eric, I’m not sure if you know what an answer to a prayer you have been for me.
      May GOD continue to bless you and your family.

      Reply
    23. L C

      Goals:

      1.Finish Eric’s Tips course and learn to create first infoproduct.
      2.Work on writing skills.
      3.Buy a laptop and backup drive.
      4.Get domain name, website, hosting, autoresponder.

      It will be necessary to overcome a few obstacles but would like to accomplish this by January 2010.

      Reply
    24. paul f midgley

      goal no 1 to make my first $ FROM MY INTERNET BUSINESS
      goal no 2 to expand it up to 1000$ per month
      goal no 3 to build this to 10000$ per month this will acheive my first vision of being debt free BY CHRISTMASS GOD WILLING

      Reply
    25. grant

      to have 5,000 in sales by sept 15 on ebay.
      then to have 10,000 in sales by dec 1
      I am going to have web site set up by aug 15

      Reply
    26. grant

      i going thru several lessons a day is this alright or should i only do 1 per day

      Reply
    27. Eric Post author

      It’s ok to do more than 1, just make sure you are not skipping any steps.

      Reply
    28. Terri

      My goal is to earn $1,000 from my business by Sept 1st & to earn $10,000 by Nov.

      Reply
    29. Patty

      My goal is to get my internet marketing business up and running and making $1000. per week by 10/31/09.

      Reply
    30. robert

      i have these websites with 3 items on them.my goal is to have them producing by 08-28-09 today is 8-6-09 i have some click bank site that i need to start working on i’m not much at writeing is there a place where i can get written material for my sites?eric how do i download your promo page?can any one assist me? i follow these lessons on a daily basises.

      Reply
    31. Paula

      Hi, Eric.
      Our Goals:
      Monday- print flyers for site & distribute
      Tuesday-fix problem with linkshare
      Wednesday-complete loading of product to site
      Thursday- print & distribute more flyers for site
      Friday- order business cards
      Saturday- have our first sale!!!!
      Every night – do Eric’s tips

      Thanks, Eric.

      Reply
    32. Tim Adami

      Aug 10th, my goal is to have made first sale on my marketing site by Aug. 20th. Write 10 articles relating to both sites (marketing and golfing) to inspire traffic to both and to have done two video interviews by Aug 30th on my golf site for viewers.
      My goal by Dec. 31 this year is to pay off the second on my house and earn enough $$ to have several clients on my marketing site that I am assisting to achieve their goals by the early part of 2010.

      Reply
    33. Dot

      #1. My vision is to have my internet businesses to generate $10,000/month to enjoy my church, my family & my country.
      #1. 1st goal is to get completely out of credit card debt by Jan 2010.
      #2. 2nd goal is to generate $2000/month by Dec 2009 from my internet store. http://www.dssuperstore.net
      #3. Finish all of your lessons doing 3/wk by Jan 2010.
      #4. Goal 4 is to complete my new house by April 2010.

      Reply
    34. Micah

      Hello Robert,

      You can get content from inexpensive membership sites like this one:
      http://www.monthlywebcontent.com/

      You can download pages with your web browser. If you are using Internet Explorer, start by simply clicking the file menu, and choosing “Save As” to save the page you are viewing.

      Reply
    35. dyuane

      thanks eric,
      i goal is to make 20,000 with online sales. I been averaging 2,000 for the last two months. I learning alot from these videos.

      Reply
    36. Ng

      Thanks Eric for your kindness to share your valuable tips to me. I wish to earn annual income of $1,000,000 and increase gradually the income.Thanks again Eric for your tips

      Reply
    37. Helene

      vision: be off all my debts by 15th sept. 09 and make all my family happily living.

      goal: while continuing to sell on leads, complete the descriptions of my products today and complete the addition of the legal docs today. I know it sounds short but I´ve got to make it today now.

      THANKS ERIC, THIS IS REALLY COOL THAT YOU HELP SO MANY PEOPLE!!

      Reply
    38. Arlan

      Goal/s:
      1. To build and publish my own website before this year ends.
      2. To learn the relevance of articles in affiliate marketing business by the end of September.
      3. To learn the importance of and use RSS, Twitter, Facebook, delicious within this year.

      Reply
    39. Richard

      Hi Eric, fantastic goal strategies and totally succinct. Due to the significance of this topic there is no if’s or but’s, I understand the gravity of the message in the difference between the 97% (little money) and the 3% (ten times more) due to goal setting. I know within that if I do not do the tasks that I know I need to do, then my business will suffer. I also having to control my attention and direction and slowly achieving those crucial steps in forming a presence online.

      Reply
    40. Gene

      My goal is to run multiple web sites that generate at least $1000.00 per week and I want to achieve this before within a year starting on 8-30-09 to 8-30-10.
      Again, Thank You Eric. These are the best tips I have ever received and they fill me with hope and promise. Keep them coming.
      Thanks
      Gene

      Reply
    41. Riccardo Parisio

      Hi Eric,
      Well Done.

      I have written down my vision for my future, for the person I wish to BECOME & for What I wish to give the Family I lead.
      Also I’ve written down a List of Experiences I want to achieve (Travels, skills to learn…)

      I decided To Write also my Economic Plan of Goals Here Because I WANT to Commit myself to REVISE HERE (!) publically my achievement and my failures; So I hope this web site will REMAIN for the next 5 YEARS ok? Possible? hope so…

      My Economic Plan of goals
      SHORT TERM:
      by 1 oct 2009 net income 400 Euro
      by 1 nov 09 ” ” 800 ”
      ” 1 dec 09 ” ” 1300 ”
      FOR A TOTAL of 2500 in 3 months

      Medium term:
      In the three months of Jen-Feb-Mar 2010
      a TOTAL of net income of 5000

      LONG Term:
      1° year by 1 oct 2010 TOTAL net income online of 35K
      2° Yr ” 1 ” 2011 ” ” ” ” of 60k
      3° yr ” 1 ” 2012 ” ” ” ” of 130k
      4° yr ” 1 ” 2013 ” ” ” ” of 275k
      5 yr ” 1 ” 2014 ” ” ” ” of 500k
      For a TOTAL in 5 Years of 1.000K necessary to attain material instruments to “build” my vision

      I Committ myself to write HERE down Each month for the next 3 regardless the results.
      Kind Regard,
      Riccardo

      Reply

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