GUIDES TO WRITING A BUSINESS GOAL STATEMENT

A business goal statement is a concise description of what your business does, why, and how it does it.

The business goal statement is a cogent consideration for today’s entrepreneurs. It’s one of the most important statements every entrepreneur with a clear vision of his/her purpose needs to develop. It requires you to outline why you’re going into a business, what you will be doing as a business and your desired outcome in the long run.

DISCOVER YOUR DREAM

This is where you identify and write out the solutions your business provides. It is your dream, what you want to see come true. A thorough understanding of a need/problem you’re willing to solve will help you put this starting phrase right, in a simple sentence that expresses the main purpose of starting your business.

• What is your dream?
• What problem will your dream solve if you achieve it?

IDENTIFY YOUR KEY PROCESSES

After stating out your dream, your next phrase should explain how you intend to achieve that dream. This is where you put your key resources and key partnerships together, and determine the key activities required to accomplish the dream. For example, a fashion designer will need a sewing machine… and may have to partner with a photographer/videographer to develop professional images or montages of every new design.

STATE YOUR EXPECTED OUTCOME

Having decided what process or key activities you’ll require to achieve your dream, you need to state how you intend to measure the effectiveness of your effort. Never mistake activities for accomplishment.

You must identify the measurable factors that help confirm success. For me, my expected outcome is more profits and customer engagement and satisfaction for my clients.

ALIGN YOUR DREAM WITH THE PROCESS REQUIRED TO ACHIEVE THE DESIRED OUTCOME

This is where we put it all together to make a statement, and call it our Business goal statement. For me, my business goal statement starts with; ‘I want more successful entrepreneurs’.

WHY? Because I want to change the statistics from 4 out of every 5 business fails in the first 5 years to 4 of every 5 business succeeds… Then, I merge it up with how I intend to do this, and what the desired outcome would be.

SAMPLE BUSINESS GOAL STATEMENT:

I want more successful entrepreneurs, to do this; my brand needs to develop creative business strategies that promote brand value, profitability, and customer engagement and satisfaction.

©CHARLES ADETOLA