7 Jan 2021, 13:06 — 4 min read
2020 was an uncertain year for most business owners, and goals went awry. The start of the New Year is when goal setting is on our minds both on a business and personal level. This is relevant if you are an entrepreneur creating your own ladder or an executive working in a corporation.
A reflection on what works for your business is critical to achieve business goals. Prior to setting goals you need assess factors that will determine business in general.
A good practice is to look at your goals daily, as per Brian Tracy's goal setting guide. A tested format is defining the goal and seeing yourself there. With personal goals, a couple of things become fundamental.
Informed advice matters when we look at things from an exit strategy point of view. Although all the wealth of information is available, people tend to make mistakes in this area. This results in situations wherein things could go wrong. Whether it’s being stuck in a time warp or with a set of assumptions, it can be fatal to your financial wellbeing.
Also read: Mantras for financial success
This is more of looking at the integration of personal goals and aligning your finances to them. This is the proper understanding to aim at. Once the eureka moment strikes, things can be done the way they should be.
This year one can look at Income – investments = expenses as a paradigm. This can potentially change the way you look at your finances. This becomes critical for SME owners as external finances may not be available at times. Business and investing are team sports. That mindset will be your saviour in the years to come.
Also read: A challenging year. An optimistic tomorrow
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Posted byAnirudh Anand Gupta
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