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How to grow

your business

In this extract from The Essential Finance

Handbook for Entrepreneurs, we look at

developing strategies and action plans

to achieve your goals

T

HERE’S a lot to consider

when starting a business.

In the second part of this

series from The Essential

Finance Handbook for

Entrepreneurs, author

and businesswoman

Precious Mvulane looks

at one of the most essential parts of

your business – goals and actions.

SET FINANCIAL GOALS

Thiswillhelptoguideyourdecisions.

Herearea fewexamplesofgoals:

Settingsalestargetsbystatingthe

totalnumberofsalesyou’dliketomake

Specifying the vehicles, assets or

equipment you’d like to acquire

Settinga targetforacquiringnew

clients,leads,orthetotalvalueofleads

Settinga goalforthenumberofpro-

ductsorservicessold

Raising a certain amount of capital

(loan or overdraft).

CLARIFY YOUR REASONS

Most people will know what they want

but they don’t have enough reasons for

doing what they are doing.

Why is achieving your goal impor-

tant? What does it mean to you? Why

should anyone care that you have this

goal and join you on your mission?

If you cannot convince yourself of

the importance of your goal, you will

not stick with it and persevere. You will

also not be able to convince other

people to join and support you. You

cannot do it on your own. You need

support and structures to help you to

achieve your goals.

Earlier, I indicated that it starts with

you. However, to achieve massive suc-

cess, it cannot only be about you. Yes,

your financial goals have to be aligned

with your vision, but they also need to

be bigger than you and your needs –

they need to include others.

INVOLVE OTHERS

How can you magnify your financial

goals to include many people?

This is directly linked to the first

wealth principle: SERVE FIRST. You

ESSENTIAL

FINANCE

HANDBOOK

PART 2