5 Goal Setting Strategies for an Entrepreneur

Entrepreneurs are a special group of people.

They trade in a set schedule for 80 hour work weeks. They give up specifically set titles to wear 10 hats in their company. They are up goal setting and planning while the rest of the world sleeps. If you are an entrepreneur you can relate, but did you know there are methods to goal setting? We have compiled 5 strategies that entrepreneurs use when setting goals. Read on to learn more.


  1. Write it down.

There is power in writing down your goals. Many of us rely on our memories, but goal setting has proven to be more effective when written. Whether you choose to write your goals on a piece of paper, a dry erase board or even on a napkin you keep inside your wallet, begin with this method. Be as detailed as possible when you write. Make sure that your written goals are in a place you can see every day. The whole idea is to get the goal out of your head and in front of your face each day so that you feel motivated and reminded.


  1. Seek accountability.

Sharing your goals with your partners, friends, and family or others in your trusted circle is a great goal setting strategy. It allows the people in your circle to hold you accountable. Clue them on our your deadlines and ask them to hold you accountable.


  1. Be productive in the winter.

The cold season is a time when people spend the most time indoors. The early sunsets and chilly temperatures can cause even the most motivated individuals to fall complacent. It is important to remember that winter is the predecessor of spring. Winter is the process that occurs in nature to test the fortitude of the strong and weed out the weak. Be productive this winter and withstand the season so that you can see the fruits of your labor in the summer.  


  1. Seek training and education.

As an entrepreneur, it is your responsibility to educate yourself on the things you don’t know. Training is a great way to get educated and separate the myths from the facts. One of the most challenging points that entrepreneurs face is lacking the formal business knowledge such as information on loans, accounting, and legalities. Getting the facts on this type of information can help your business succeed. One example of training that all business owners should take is the retail business loan program training offered by our team at Financing Your Way. This training is designed to help entrepreneurs navigate business loans for their retail business.


  1. Plan for funding their visions

One of the most important topics discussed in the retail business loan program training is planning for funding. The age-old saying “it takes money to make money” is true. As you seek funding, it is important to have a plan for how every dollar of borrowed funds will be used. Using an Excel spreadsheet, take the time to list out each way you plan to spend the borrowed funds and the expected return from the investment.


For more information on  Financing Your Way’s retail business loan program training visit our website today.



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