After all, if your business doesn't meet your personal goals, you probably won't be happy waking up each morning and trying to make the business a success. Sooner or later you'll stop putting forth the effort needed to make the concept work. Begin with small steps, such as increasing your monthly income by 25 percent. Once your first goal is met, you can reach for larger ones. Short-term goals are attainable in a period of weeks to a year.
Many entrepreneurs go into business to achieve financial security.
Consider how much money you want to make during your first year of operation and each year thereafter, up to five years. This includes areas such as travel, hours of work, investment of personal assets and geographic location. Owning a business can be very ego-gratifying, especially if you're in a business that's considered glamorous or exciting. You need to decide how important ego gratification is to you and what business best fills that need. Going into business with your eyes wide open about your strengths and weaknesses, your likes and dislikes and your ultimate goals lets you confront the decisions you'll face with greater confidence and a greater chance of success.