Before you start your online business, it is very important that you ask yourself why you are starting your online business. Do you want quick cash in your pocket? Do you want that extra few dollars a month to help you financially? You don’t like your current job and you want to be your own boss? Do you want to make your income complete passive so you can travel all over the world? Are you looking to create big empire of wealth? When you sit down and figure out whey you want to start your own business, you can get started on setting your goals.
5 reasons why setting goal is important
- Goal gives you a path for your journey.
- Goal gives you what your end result looks like.
- Goal helps you move forward when things gets tough.
- Goal helps you focus on your end result.
- Goal makes you accountable.
You need to set two types of goal – long term goal and short term goal. Long term goal will gives you big picture of what you are trying to achieve. Short term goals are bunch of smaller goals which will eventually help you achieve the long term goal. It is crucial that you making a habit of setting these smaller achievable goals. Because as you continue to achieve smaller goals, it will give you sense of accomplishment and continue to push forward to archiving the long term goal.
7 tips that will help you set goals:
- Write down your goals and cross it off when you are done
- Set smaller goals so it will eventually loads to bigger goals
- Put a time limit on your smaller goals
- It is okay to constantly change your goals and re-evulate your goals
- Make your smaller goals specific as possible
- Smaller goals needs to be measurable and achievable
- If you can’t achieve the goals in time, figure out why and set a new goal
What is my goal?
I had chance to sit down and think about why I want to start an online business and some goals. I want to start an online business because I want the freedom that comes from passive income. I don’t want to depend on my 8-5 job forever. I want to create a situation for myself where I decide when I work and where I work. I really want to stay away from trading my time with income. I figured I am not getting any younger, and I realized I haven’t really done too much traveling. Time is now for me to see the world. Also, as I start my own family, I want spend much time as I can with my family.
My long term goal is make enough money to quit my 8-5 job. Eventually, I do want to create my own products to sell online. At the point, I am not sure what that is. But I am hoping that as I continue to gain knowledge and experience, I’ll figure out what they are.
My short term goal is to set up few niche website to bring some passive income from affiliate marketing. In the beginning, I want to create a website on my own from scratch. I want to get my hands on all parts of the process. Eventually, I’ll outsource some of the tasks to make time to do other things. At first, my goal is to really see if I can actually make money online. If I can bring in $100/month from the website, I’ll be happy with it. It will gives me motivation to push even harder.
I didn’t know this was even possible until when I heard Pat Flynn’s story. He is actual living example of how passive income is something you can actually achieve. Pat demonstrated that not only you can make passive income online, you can actually do well and live a good life. This is reason why I want to start an online business.