Short- and Long-Term Goals

An effective list of goals will include critical points of action, to be accomplished both immediately and over the next three to five years. For a startup company, the focus will be weighted more toward the present, as so much must be achieved during the initial stages in a business's development. For sole proprietorships and small limited partnerships, entrepreneurs should list personal as well as business goals, to align them and avoid possible conflicts with time and money issues. General goals include the size of the company several years out, how many employees to add and manage realistically, and what kind of social and business impact the business should achieve,

Business Plan

A successful business plan will outline a clear vision and the specific steps necessary to achieve it. Products and services must be identified, potential customers targeted, growth plans outlined and employees hired as needed. While goals and strategic plans generally cover overarching issues, the business plan is the place to determine how to get there. It should be as detailed as possible, covering everything from the rent or mortgage to how much memory the computers hold.

Focus on Customer

As no business can satisfy everyone, it is not necessary even to try. Customers should be carefully targeted and cultivated. Once satisfied and happy, they are generally eager to share their experiences and give recommendations, among any company's best marketing tools. Identifying products and services that customers cannot find anywhere else represents another key factor in identifying the startup's goals.

Competitive Landscape

New business owners must closely look at the marketplace to find ways either to overcome the current competition or develop cheaper and better products and services. Startup goals should include listing all potential competitors, their positive and negative attributes, and how to improve on what they offer.

Financial Goals

The best products and services will flounder without the money to produce, package and promote them. Financial goals should take into consideration the break-even points at various sales levels, initial costs, monthly overhead, cash-flow figures, realistic market share, sales forecasts, adequate financial cushion and desired profit.