Small Business

How to Set Goals as a Creative Entrepreneur

Whew! You did it! You’ve started! That’s the first step and I know it feels good. That was for those who started like yesterday. For everyone else that has started months and even years ago, congrats for getting here! You’re awesome. Now, it’s time to set goals. “I have goals, Niché, I want to be successful and make lots of money.” Well, right but that is not a goal. That’s just one of the reasons you started a business. It is not a goal for your business. A goal is a quantifiable, measurable, trackable, actionable plan to achieve one particular marker that qualifies as a degree of success in your business. That’s my definition at least. The Business Dictionary words it a little bit better than me: “An observable and measurable end result having one or more objectives to be achieved within a more or less fixed timeframe.” So, how do you set these goals?

First, decide what success looks like to you in your business. If you sell cupcakes, (I love sweets by the way, you’ll hear about cupcakes often) and every month you want to sell 1000 cupcakes, you need to calculate how much it costs in product, time and bills, to create, bake and promote the sale of these cupcakes. Once you have that number, times it by three. Once to cover your expenses, two to pay your team or for marketing and three to make a profit. Break that number down to decide how much to charge per cupcake. Then, you’ve set a goal: Sell 1000 cupcakes so we can make XYZ in profit. There are many formulas and lots of science behind that but the simplicity lies in what you value as success. Next, set that monthly goal into a quarterly plan to achieve that goal month to month. And then in two quarters and so forth until you have a monthly, yearly and 5 year goal set. Goals will change for sure as time goes on, but setting a foundation for a goal is the first step to success.

Set a goal on a small scale so that you can see the big picture as well. If you know what your goals are for the month, then you can see your year at a glance. Now add in trends throughout the year for your cupcakes, like wedding season or holiday baking sales, and you can start to develop a plan with real numbers that make sense. 

The monthly and yearly goals are super important but so are the dream big goals. And I mean, BIG. You know, the one that scares you to think about. To quote Tasha from POWER “I want you to be the biggest got xxxx drug dealer in New York City.” I don’t want you to be a drug dealer, but I do want you to be the biggest you. Whatever the field, wherever you are, aim to be the biggest and the best of that. My ultimate goal is to own a branding agency where several small businesses can start and get the same quality, beautiful and insightful beginning that I know how to offer. That’s a large scale goal and I don’t expect to be there next year. But, I do expect to be there by 2030. That’s just 12 years from now but I think in 12 years time, I can get there.

I’ve got a plan to get there and I’ve set small, actionable, bite-sized tasks that will add to that goal eventually. Will I be disappointed when everything doesn’t go as planned? Yes. Absolutely, but that doesn’t mean my goal wasn’t relevant or purposeful. The goals you set are attainable and if they’re realistic, they can really push you to be the best you. If you focus on the daily tasks of building your brand with setting a goal, ensuring your process to get the goal is right and refined, spending dollars on marketing and pushing your product or service to those who you know need or want your service, then you’re ready for what’s next! Stay with me! We’re half way through this! Set goals, make plans and kill it! You’ve got this!

All our love,

Niché + Shameka

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