ENTREPRENEURSHIP

It’s A Business GOAL

Every entrepreneur is in business for one reason or the other. Your Reasons for being in a business is your Goal.

GOAL=AIM + OBJECTIVE

Goal

A Goal is a combination of two basic elements, which are: Aim and Objective

Aim✔

🔸Your Aim is what you want to do for them or others.

🔸Your Aim is the seat of your passion for a business

🔸Your Aim is that problem you wish to solve, or that condition you wish to improve.

🔸Your Aim is never the SMART part of your goal

Objective ✔

🔹Your Objective is what is in for you.

🔹Your Objective is that which you personally stand to benefit.

🔹Your Objective revolves around you; which includes: Monetary profit, Respect, Influence etc.

🔹Your Objective is the SMART part of your goal.

💡Example

Dry Cleaning business

Certainly , a dry cleaning firm is in business for a purpose, that purpose it the Goal of the business.

Goal= Aim+Objective

✔The Aim part of the Goal should look like this:

🔹To provide an improved laundry and dry cleaning services, making it possible for clients to get QUICKER delivery of QUALITY services.

This part is directed to benefit clients (other people)

“Quicker delivery of quality service”…Quicker!

✔The Objective part of the Goal should look like this:

To capture a market share of 25% in the first 2 years, while targeting the middle-class earners in the city of Abuja.

To make an average annual profit of N9,000,000 in the first 3 years of the business.

This part is directed to self, increasing profits and making more money. We all know that a larger market share will surely translate to more profits.

The Objective part of the Goal is the SMART part of the venture: This part is Specific, Measurable, Achievable, Relevant and Time-bound.

Note: The desire to fulfil your life’s dream through the eyes of a business, can be factored into Aim.

Thanks for being here!

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