Setting Goals with Purpose

Rather you're new to being a small business owner or have been doing it for 30 years- setting goals for your business is essential. It helps to create clarity, direction, and success. I'm here to offer my own personal experience, and hopefully some tips to help you set clear, realistic goals.

When it comes to setting goals for your business (or even life!), it's important to create a clear vision. Ask yourself, "Where do I want to be in a year? Or 6 months? Or even next month?" Are your goals realistic, or a little too far-fetched? 
I've created a simple step-by-step guide to help you build those goals to be successful. (Remember- this is just my opinion! Everything works different for everyone...) 

1. Create a vision. What do you want out of your business? Why are you starting your business? It's always important to start from the roots and work your way up.
   
   Long term, what do you want your business to look like? What are your financial goals? Do you want your business to continue to grow and expand quickly, or do you want to keep it small and simple? Are you starting a business based on what is needed in the community or based on something you simply love to do- or both? 
   
   For me- I had multiple goals. My number one was that I wanted to own a home and gift shop. I knew that for sure. That one goal turned into wanting to bring something new and fresh to my community. Next came the financial goals (I'll get into that a little later on...)  
   
   
2.  Once your goals are clear- make a plan. Draw it out. Put it into a to-do list. Have sticky notes all over the place...whatever works best for you to keep those goals in your mind. I personally am a list maker. I will write out a list on a piece of paper, and cross things off as I go. It's definitely a good way to feel accomplished! How to achieve those goals? Let's break it down together…
   
   
3. Start with your main goal- for me, it was wanting a shop. What do I need to do to get there? Obviously, I need a space. That turned into, “How can I obtain that? What’s my next step?” Building off that primary goal is going to lead you to your next goal and so on. Once I figured out my space (thanks to my husband!), I then began planning my next goal, and just kept going.
   
   It’s very important to remember to keep your goals realistic. Yes- I wanted a storefront. Was it realistic for me to spend $1500-$2000 per month on rent in a building I didn’t own? Absolutely not. Did I have access to a space that we owned, but needed a little help? Yes. Now, I know my situation is totally different than others, but that’s what worked for me and helped me achieve my goals.
   
   Once construction was done- the next goal was "when am I going to open? What products am I going to carry? How can I get people to know I’m opening a gift shop?” There were many more of those types of questions that helped me build up my goals. The biggest piece of advice I can give is to just plan. Plan, plan, plan. If you don’t have a clear plan and just roll with it…it makes it more stressful, unorganized, and often times maybe might not work. And more importantly- try your hardest to stick to that plan.  
   
   
   
   
4. After I opened my shop, my next (and recurring) goal was financials. How much income did I need to make per month to keep the business afloat? How much income did I need to make to afford the business AND my personal bills? It’s crucial to have a plan for your finances and business expenses and profits. Now- I’ll be honest. This is still a goal in progress for me, because I’ve only been open one year. I know it takes time. (remember that!) Building and growing a business takes time and doesn’t happen overnight.
   
   My initial goal was to make the same amount I was making per year at my previous job. My thought was “this should pay my bills, and keep inventory flowing”. I was pleasantly surprised to reach that yearly goal- and exceeded it by 50%.
   
   
5. Even though you may have clear goals, you’re doing everything you can possibly do to reach those goals…it’s important to prepare for setbacks.
   
   They happen to everyone. With retail, there are months that are waaayyy slower than other months. There are times when I make double in one month and less than I need in another. I’ve learned that with my business last year, it all worked out in the end. By the end of the year, I was exactly (plus some!) where I wanted to be.
   
   There were super slow days- sometimes even weeks- where I was a little worried and questioning my whole decision to open a gift shop in a small town. And then it would pick up and I’d have customers come in and say, “Oh my gosh, I’m so glad you’re here!” Then I’d have weeks where I barely had time to sit down because it was so busy.
   
   The setbacks felt discouraging sometimes- but it’s important to keep your head up and just keep on truckin’ 😉
   
   
   
6. Review and reevaluate. Rather you’ve owned your small business for one month, or 30 years…it is always important to look back and see what worked and what didn’t.
   
   I am in a constant state of “how can I better this?” or “what can I do differently?” Sometimes it’s a lot- and sometimes I’m doing exactly what is working great. I’ll look at my analytics or see how many people walked in during a month, etc. and then branch off of that. What was bringing them in? Was it good weather, or sales or a holiday? What items were sold during that period? Was there any feedback from customers?
   
   Since being open one whole year, I did A LOT of reflecting and looking back and I realized so many things I hadn’t during that time. So now I’ve gone back to my goals and set a new one to review my analytics at the end of every month. This helps me with financial goals, product and inventory goals, and helps me make new ones for the future.
   
   

At the end of the day, goals give our direction meaning. They turn dreams into plans and effort into progress.

You don’t need to have the entire path mapped out—just the courage to decide where you want to go and the commitment to take the first step.

Set goals that excite you, challenge you, and push you to grow. Then show up for them consistently. Little by little, those intentional steps add up to a lot when it comes to your small business. 

Thanks for reading and hanging out here.
Keep setting goals that matter to you, take it one step at a time, and don’t forget to celebrate the progress along the way. See you next time 👋