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Setting Goals

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Mike CohenSetting Goals
by on Aug 11, 2009 at 4:15:33 am

Goal setting is part of any business. It can take many forms:

How much do you plan to make this year?

How will you bring in new clients while keeping current clients happy?

How much of your gross income will go to investment in the business vs into the bank vs into your pocket?

How will you market your services or products?

Once the business is up and running, it is a good idea to step back, look at how things are going, and evaluate if you need to make changes. A new business plan may fit the bill, or a business plan for a new type of service you will offer.

In our business, we routinely come up with new product lines. Each new product in some cases needs a business plan - marketing ideas, marketing budget, direct mail campaign, web-based delivery or DVD or both. We try to estimate sales over the first year, knowing it takes time to get the word out.

Then after some time has passed, sometimes a year or more, you need to reevaluate what you have been doing, see if it is working or needs further refinement or in some cases retirement.

So for the folks who are just starting out especially, find a niche and go for it. But you'll need to keep working at it, especially after you find success. And then evaluate where you came from and where you are going. Never stop trying new things, but stick with what works, while it works.

Mike Cohen

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Richard CooperRe: Setting Goals
by on Aug 11, 2009 at 6:41:36 pm

Great post Mike,

Thanks for the info. The artistic talents needed to do the jobs we sell and the business sense it takes to market those services is, at times, a difficult path to walk. It is great that this forum exists and folks like you are willing to share your valuable insights.

Richard Cooper
FrostLine Productions, LLC
Anchorage, Alaska

Everyone has a story to tell.

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