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Goals, objectives and strategy venture out.

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Lorraine Lord
Lorraine Lord

Help for persons with a business idea. Learn how to set goals, objectives and strategy in the context of a new business venture. No pressure, no tests, Just View! It's FREE.

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GOALS, OBJECTIVES AND STRATEGY GETTING TO WHERE WE WOULD LIKE TO BE! PRESENTED BY MRS. LORRAINE LORD.
ONE WAY TO RUN A SUCCESSFUL BUSINESS IS TO MAKE THINGS HAPPENRATHER THAN LET THINGS HAPPEN TO YOU. IF YOU WANT ACTION, YOU NEED AN ACTION PLAN.
YOUR ACTION PLAN WILL ANSWER: 1. WHERE DO YOU WANT TO GO 2. HOW WILL YOU GET THERE 3. WHAT TIME AND MONEY (RESOURCES) DO YOU HAVE TO INVEST?
HOW DO YOU TAKE CONTROL?
YOU TAKE CONTROL BY SETTING GOALS FIRST OF ALL.
WHAT IS A GOAL? A GOAL IS THE BROAD OUTCOME, WHAT YOU WOULD LIKE TO ACHIEVE.
ACTIVITY: THINK BACK TO NEW YEARS DAY DID YOU MAKE A NEW YEAR RESOLUTION? WHY? DID IT COME THROUGH? WHY OR WHY NOT.
TAKE AWAY
WHEN IT COMES TO GOAL SETTING, THE SMART SYSTEM IS A SIMPLE, DOWN TO EARTH WAY TO GET THE JOB DONE.
THE S.M.A.R.T. SYSTEM S STANDS FOR SPECIFIC. INSTEAD OF SAYING I WANT TO MAKE A LOT OF MONEY THIS YEAR SAY I WANT TO MAKE $100,000 IN TWO MONTHS.
THE S.M.A.R.T. SYSTEM M MEANS MEASURABLE. FRAME YOUR GOALS IN SUCH A WAY SO YOU CAN MEASURE YOUR PROGRESS. I WANT TO MAKE $100,000 IN TWO MONTHS - $40,000 IN SEPTEMBER AND $60,000 IN OCTOBER.
THE S.M.A.R.T. SYSTEM A MEANS ATTAINABLE/ACHIEVABLE. FOCUS ON GOALS THAT YOU CAN REASONABLY ACHIEVE IN ONE YEAR. VS
THE S.M.A.R.T. SYSTEM R STANDS FOR REALISTIC. ARE YOUR GOALS REALISTIC? DO YOU HAVE THE TIME AND CAN YOU ACCESS THE FUNDS (RESOURCES) NECESSARY TO CONVERT YOUR DREAMS INTO REALITY?
THE S.M.A.R.T. SYSTEM T STANDS FOR TIMELY. GIVE YOURSELF A REASONABLE TIME FRAME FOR ACHIEVING YOUR GOALS. WAS THAT TWO MONTHS ENOUGH OR DO YOU NEED FOUR MONTHS? FRAME YOUR GOALS IN SUCH A WAY AS TO AVOID DISCOURAGEMENT.
PARTICIPANT ACTIVITY IDENTIFY YOUR BUSINESS IDEA USE THE SMART GOALS FRAMEWORK TO ARTICULATE IT. (A FEW WILL BE ASKED TO PRESENT TO THE GROUP!)
TAKE AWAY. RECORD YOUR GOALS AND ACTION PLANS ON PAPER. REVIEW YOUR GOALS AND PLANS REGULARLY. BE FOCUSED! THE MOST IMPORTANT RULE OF GOAL SETTING IS HONESTY.
STARTING A NEW BUSINESS DOES NOT ALWAYS WORK OUT AS PLANNED: ACCORDING TO FIGURES FROM THE US, ONE- THIRD OF NEW BUSINESSES FAIL WITHIN THE FIRST TWO YEARS AND HALF FAIL DURING THE FIRST FIVE YEARS.
THE TRICK IS IN WHAT ONE EMPHASIZES. WE EITHER MAKE OURSELVES MISERABLE, OR WE MAKE OURSELVES STRONG. THE AMOUNT OF WORK IS THE SAME. – CARLOS CASTANEDA
HOW DO YOU GET THERE? LINKING STRATEGY AND OBJECTIVES TO GOALS
THE GOAL: WEIGHT LOSS
THE OBJECTIVE: LOSE TEN POUNDS IN THREE MONTHS.
THE STRATEGY •EAT WELL •EXERCISE
WHAT IS STRATEGY? STRATEGY IS HOW TO GET THERE. IT IS ABOUT DECIDING WHAT WILL WORK.
BEFORE DECIDING WHAT WILL WORK YOU NEED TO ESTABLISH A FEW THINGS.
1. WHAT IS THE PURPOSE OF YOUR BUSINESS? E.G. CONTRIBUTE TO A HEALTHY LIFESTYLE FOR MY CUSTOMERS
HOW IMPORTANT IS YOUR BUSINESS PURPOSE TO YOUR CUSTOMERS? Remember Purpose = Profit
2. ESTABLISH YOUR MISSION – THE WHAT. I WILL PROVIDE FRESH FRUITS AT A REASONABLE PRICE FOR PEOPLE IN MY COMMUNITY
OTHER IMPORTANT CONSIDERATIONS ARE THERE OTHERS WITH THE SAME IDEA? WHAT CAN YOU DO DIFFERENTLY?
3. DEFINE YOUR CORE VALUES: HOW WILL YOU GO ABOUT YOUR WORK? WHAT DO YOU VALUE IN YOURSELF AND THE PEOPLE WHO MAY WORK FOR YOU?
3 CONT’D. WHAT DO YOU WANT YOUR CUSTOMERS TO EXPERIENCE?
TAKE AWAY ONCE YOU KNOW THE WHY AND WHAT OF YOUR BUSINESS YOU CAN COME UP WITH THE HOW.
OTHER IMPORTANT CONSIDERATIONS HOW WILL YOU FINANCE YOUR STARTUP COSTS? HOW WILL YOU BRAND YOURSELF AND ADVERTISE? HOW WILL YOU GROW THE BUSINESS?
HOW WILL YOU MEASURE YOUR SUCCESS? TO MEASURE SUCCESS YOU NEED TO BE ABLE TO TRANSLATE YOUR GOALS INTO OBJECTIVES. NOTE: IF YOU CANNOT MEASURE, YOU CANNOT DETERMINE SUCCESS OR FAILURE
WHAT IS AN OBJECTIVE? OBJECTIVES ARE THE MEASURABLE STEPS YOU TAKE TO ACHIEVE YOUR STRATEGY.
BREAKING IT DOWN
STEP 1: WHERE ARE YOU NOW? AT THE STAGE, THINK OF WHAT STRENGTHS YOU HAVE TO MAKE YOUR MISSION COME THROUGH. ARE THERE ANY WEAKNESSES? - THINGS YOU STRUGGLE TO DO. WHAT ABOUT THREATS? OPPORTUNITIES?
STEP 2: WHAT ARE THE PROBLEMS/OBSTACLES YOU NEED TO ADDRESS? CONFRONTING OBSTACLES DOES NOT MAKE YOUR VENTURE A FAILURE. IT MEANS YOU ARE PREPARING YOURSELF FOR ANY SURPRISES.
STEP 3: DO I HAVE WHAT I NEED FOR THE SOLUTION? THIS IS WHERE THE BANK COMES IN
STEP 4: HOW WILL I GROW THE BUSINESS? HOW WILL I ATTRACT CUSTOMERS TO MY BUSINESS? HOW WILL I CONVERT ONLOOKERS INTO SALES? WHAT IS THE AVERAGE SALE AMOUNT I AM LOOKING FOR? WHAT WILL CAUSE MY CUSTOMERS TO COME BACK? WHAT ARE THE COSTS I NEED TO MANAGE TO ENSURE A HEALTHY PROFIT?
STEP 5: FRAME THE HOW INTO TACTICS. How: I must advertise. The tactics will be what you will do to advertise.
STEP 6: DECIDE WHICH TACTICS YOU WILL MEASURE.
THE WRAP UP
PARTICIPANT FEEDBACK
Goals, objectives and strategy venture out.

More Related Content

Goals, objectives and strategy venture out.

  • 1. GOALS, OBJECTIVES AND STRATEGY GETTING TO WHERE WE WOULD LIKE TO BE! PRESENTED BY MRS. LORRAINE LORD.
  • 2. ONE WAY TO RUN A SUCCESSFUL BUSINESS IS TO MAKE THINGS HAPPENRATHER THAN LET THINGS HAPPEN TO YOU. IF YOU WANT ACTION, YOU NEED AN ACTION PLAN.
  • 3. YOUR ACTION PLAN WILL ANSWER: 1. WHERE DO YOU WANT TO GO 2. HOW WILL YOU GET THERE 3. WHAT TIME AND MONEY (RESOURCES) DO YOU HAVE TO INVEST?
  • 4. HOW DO YOU TAKE CONTROL?
  • 5. YOU TAKE CONTROL BY SETTING GOALS FIRST OF ALL.
  • 6. WHAT IS A GOAL? A GOAL IS THE BROAD OUTCOME, WHAT YOU WOULD LIKE TO ACHIEVE.
  • 7. ACTIVITY: THINK BACK TO NEW YEARS DAY DID YOU MAKE A NEW YEAR RESOLUTION? WHY? DID IT COME THROUGH? WHY OR WHY NOT.
  • 9. WHEN IT COMES TO GOAL SETTING, THE SMART SYSTEM IS A SIMPLE, DOWN TO EARTH WAY TO GET THE JOB DONE.
  • 10. THE S.M.A.R.T. SYSTEM S STANDS FOR SPECIFIC. INSTEAD OF SAYING I WANT TO MAKE A LOT OF MONEY THIS YEAR SAY I WANT TO MAKE $100,000 IN TWO MONTHS.
  • 11. THE S.M.A.R.T. SYSTEM M MEANS MEASURABLE. FRAME YOUR GOALS IN SUCH A WAY SO YOU CAN MEASURE YOUR PROGRESS. I WANT TO MAKE $100,000 IN TWO MONTHS - $40,000 IN SEPTEMBER AND $60,000 IN OCTOBER.
  • 12. THE S.M.A.R.T. SYSTEM A MEANS ATTAINABLE/ACHIEVABLE. FOCUS ON GOALS THAT YOU CAN REASONABLY ACHIEVE IN ONE YEAR. VS
  • 13. THE S.M.A.R.T. SYSTEM R STANDS FOR REALISTIC. ARE YOUR GOALS REALISTIC? DO YOU HAVE THE TIME AND CAN YOU ACCESS THE FUNDS (RESOURCES) NECESSARY TO CONVERT YOUR DREAMS INTO REALITY?
  • 14. THE S.M.A.R.T. SYSTEM T STANDS FOR TIMELY. GIVE YOURSELF A REASONABLE TIME FRAME FOR ACHIEVING YOUR GOALS. WAS THAT TWO MONTHS ENOUGH OR DO YOU NEED FOUR MONTHS? FRAME YOUR GOALS IN SUCH A WAY AS TO AVOID DISCOURAGEMENT.
  • 15. PARTICIPANT ACTIVITY IDENTIFY YOUR BUSINESS IDEA USE THE SMART GOALS FRAMEWORK TO ARTICULATE IT. (A FEW WILL BE ASKED TO PRESENT TO THE GROUP!)
  • 16. TAKE AWAY. RECORD YOUR GOALS AND ACTION PLANS ON PAPER. REVIEW YOUR GOALS AND PLANS REGULARLY. BE FOCUSED! THE MOST IMPORTANT RULE OF GOAL SETTING IS HONESTY.
  • 17. STARTING A NEW BUSINESS DOES NOT ALWAYS WORK OUT AS PLANNED: ACCORDING TO FIGURES FROM THE US, ONE- THIRD OF NEW BUSINESSES FAIL WITHIN THE FIRST TWO YEARS AND HALF FAIL DURING THE FIRST FIVE YEARS.
  • 18. THE TRICK IS IN WHAT ONE EMPHASIZES. WE EITHER MAKE OURSELVES MISERABLE, OR WE MAKE OURSELVES STRONG. THE AMOUNT OF WORK IS THE SAME. – CARLOS CASTANEDA
  • 19. HOW DO YOU GET THERE? LINKING STRATEGY AND OBJECTIVES TO GOALS
  • 21. THE OBJECTIVE: LOSE TEN POUNDS IN THREE MONTHS.
  • 23. WHAT IS STRATEGY? STRATEGY IS HOW TO GET THERE. IT IS ABOUT DECIDING WHAT WILL WORK.
  • 24. BEFORE DECIDING WHAT WILL WORK YOU NEED TO ESTABLISH A FEW THINGS.
  • 25. 1. WHAT IS THE PURPOSE OF YOUR BUSINESS? E.G. CONTRIBUTE TO A HEALTHY LIFESTYLE FOR MY CUSTOMERS
  • 26. HOW IMPORTANT IS YOUR BUSINESS PURPOSE TO YOUR CUSTOMERS? Remember Purpose = Profit
  • 27. 2. ESTABLISH YOUR MISSION – THE WHAT. I WILL PROVIDE FRESH FRUITS AT A REASONABLE PRICE FOR PEOPLE IN MY COMMUNITY
  • 28. OTHER IMPORTANT CONSIDERATIONS ARE THERE OTHERS WITH THE SAME IDEA? WHAT CAN YOU DO DIFFERENTLY?
  • 29. 3. DEFINE YOUR CORE VALUES: HOW WILL YOU GO ABOUT YOUR WORK? WHAT DO YOU VALUE IN YOURSELF AND THE PEOPLE WHO MAY WORK FOR YOU?
  • 30. 3 CONT’D. WHAT DO YOU WANT YOUR CUSTOMERS TO EXPERIENCE?
  • 31. TAKE AWAY ONCE YOU KNOW THE WHY AND WHAT OF YOUR BUSINESS YOU CAN COME UP WITH THE HOW.
  • 32. OTHER IMPORTANT CONSIDERATIONS HOW WILL YOU FINANCE YOUR STARTUP COSTS? HOW WILL YOU BRAND YOURSELF AND ADVERTISE? HOW WILL YOU GROW THE BUSINESS?
  • 33. HOW WILL YOU MEASURE YOUR SUCCESS? TO MEASURE SUCCESS YOU NEED TO BE ABLE TO TRANSLATE YOUR GOALS INTO OBJECTIVES. NOTE: IF YOU CANNOT MEASURE, YOU CANNOT DETERMINE SUCCESS OR FAILURE
  • 34. WHAT IS AN OBJECTIVE? OBJECTIVES ARE THE MEASURABLE STEPS YOU TAKE TO ACHIEVE YOUR STRATEGY.
  • 36. STEP 1: WHERE ARE YOU NOW? AT THE STAGE, THINK OF WHAT STRENGTHS YOU HAVE TO MAKE YOUR MISSION COME THROUGH. ARE THERE ANY WEAKNESSES? - THINGS YOU STRUGGLE TO DO. WHAT ABOUT THREATS? OPPORTUNITIES?
  • 37. STEP 2: WHAT ARE THE PROBLEMS/OBSTACLES YOU NEED TO ADDRESS? CONFRONTING OBSTACLES DOES NOT MAKE YOUR VENTURE A FAILURE. IT MEANS YOU ARE PREPARING YOURSELF FOR ANY SURPRISES.
  • 38. STEP 3: DO I HAVE WHAT I NEED FOR THE SOLUTION? THIS IS WHERE THE BANK COMES IN
  • 39. STEP 4: HOW WILL I GROW THE BUSINESS? HOW WILL I ATTRACT CUSTOMERS TO MY BUSINESS? HOW WILL I CONVERT ONLOOKERS INTO SALES? WHAT IS THE AVERAGE SALE AMOUNT I AM LOOKING FOR? WHAT WILL CAUSE MY CUSTOMERS TO COME BACK? WHAT ARE THE COSTS I NEED TO MANAGE TO ENSURE A HEALTHY PROFIT?
  • 40. STEP 5: FRAME THE HOW INTO TACTICS. How: I must advertise. The tactics will be what you will do to advertise.
  • 41. STEP 6: DECIDE WHICH TACTICS YOU WILL MEASURE.