What is Your Motivation - Goal Setting for Your Home Business
by: Timothy Spaulding
If you are a home based business owner probably the largest obstacle you must overcome is finding motivation. You work at home and need to get online to work on your website, marketing, research, etc. But there are many other things going on that vie for your time. What do you do to ensure you are devoting adequate time to your home based business?
My main tool for motivation in my home based business is goal setting. This takes some planning, but if you spend a little time you can develop challenging, yet attainable goals. Why set goals? Goal setting allows you to determine where you want to go with your business. Setting targets gives you a basis for creating a defined plan and to identify those activities that are non-value added.
Goal setting is an activity used by successful business people, top level athletes, students and high achievers in all walks of life. Setting a goal and then reaching that goal gives a great sense of satisfaction and accomplishment.
There are several types of goals. You first establish your long term goals. These could be set for three to five years out. Profitability, net annual income, increase in business volume, ROI, size of customer base could all be used for long term goals.
Next is the creation of medium term goals related to the long term goals. These would be in the one to three year range. This is followed by short term goals that you want to achieve in the next several months. Finally, you develop an action plan that will lead to meeting the short, medium and long term goals.
The lifeblood of an online home based business is visitors to your website. So one of the goals should relate to how many visitors you are getting. Granted, there are ways to generate thousands of hits, so the goal must reflect "targeted" visitors. If you are new to online marketing you can set a smaller target. Set goals for one month, three months and one year. When you have met your 1 month target reevaluate the longer term goals and adjust them if necessary. Just be sure to validate or revise your action plan to keep moving toward the next target.
If you are not meeting your goals review the steps you are taking. Look for new and creative ways to market your home based business web page. Don't limit yourself to online marketing. Business cards, newspaper ads, flyers, etc. are all great options.
If your home based business offers a product the goal could be obtaining a certain number of orders per week or per day. It could be sales or unit volumes. If you are an affiliate marketer your goal could be recruiting a certain number of affiliates per day or increase in your downline.
Once you have generated an adequate quantity of data, i.e., unique visitors per day and units of product sold, you can determine how much you sell per unique visitor. A new goal could be to increase the sales per visitor.
Make sure your goals have a time aspect, such as 500 visitors daily by the end of the next three months.
Setting achievable goals and then attaining them is a great motivator for a home based business owner. Once you get in the habit of setting and reaching goals your enthusiasm for your home based business will grow and your success will be assured.
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About The Author
Timothy Spaulding is the owner of the Work At Home Business Resource Center at http://www.workathome-awesomeopportunities.com and Home Made Profits at http://www.homemadeprofits.net providing opportunities to work at home and make money online with your own home business.
If you are a home based business owner probably the largest obstacle you must overcome is finding motivation. You work at home and need to get online to work on your website, marketing, research, etc. But there are many other things going on that vie for your time. What do you do to ensure you are devoting adequate time to your home based business?
My main tool for motivation in my home based business is goal setting. This takes some planning, but if you spend a little time you can develop challenging, yet attainable goals. Why set goals? Goal setting allows you to determine where you want to go with your business. Setting targets gives you a basis for creating a defined plan and to identify those activities that are non-value added.
Goal setting is an activity used by successful business people, top level athletes, students and high achievers in all walks of life. Setting a goal and then reaching that goal gives a great sense of satisfaction and accomplishment.
There are several types of goals. You first establish your long term goals. These could be set for three to five years out. Profitability, net annual income, increase in business volume, ROI, size of customer base could all be used for long term goals.
Next is the creation of medium term goals related to the long term goals. These would be in the one to three year range. This is followed by short term goals that you want to achieve in the next several months. Finally, you develop an action plan that will lead to meeting the short, medium and long term goals.
The lifeblood of an online home based business is visitors to your website. So one of the goals should relate to how many visitors you are getting. Granted, there are ways to generate thousands of hits, so the goal must reflect "targeted" visitors. If you are new to online marketing you can set a smaller target. Set goals for one month, three months and one year. When you have met your 1 month target reevaluate the longer term goals and adjust them if necessary. Just be sure to validate or revise your action plan to keep moving toward the next target.
If you are not meeting your goals review the steps you are taking. Look for new and creative ways to market your home based business web page. Don't limit yourself to online marketing. Business cards, newspaper ads, flyers, etc. are all great options.
If your home based business offers a product the goal could be obtaining a certain number of orders per week or per day. It could be sales or unit volumes. If you are an affiliate marketer your goal could be recruiting a certain number of affiliates per day or increase in your downline.
Once you have generated an adequate quantity of data, i.e., unique visitors per day and units of product sold, you can determine how much you sell per unique visitor. A new goal could be to increase the sales per visitor.
Make sure your goals have a time aspect, such as 500 visitors daily by the end of the next three months.
Setting achievable goals and then attaining them is a great motivator for a home based business owner. Once you get in the habit of setting and reaching goals your enthusiasm for your home based business will grow and your success will be assured.
-----------------------------------------------------
About The Author
Timothy Spaulding is the owner of the Work At Home Business Resource Center at http://www.workathome-awesomeopportunities.com and Home Made Profits at http://www.homemadeprofits.net providing opportunities to work at home and make money online with your own home business.
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