In business or even in marketing, you cannot do away with the word “objective”. What is your objective? I have become immune to that sentence. I do know of some people who are allergic to that word though. Come to think of it, it really sounds intimidating. I don’t want to use that word in this post. I’ll simply use the word “Reason”. I think that’s a lighter and more practical word to use.
Setting goals or objectives can be too intimidating for some especially when asked even before starting a business. At least with reason, it’s a word that we cannot do without since we use this human capacity for making conscious decisions, analysis or justifying actions based on existing information. Like for example, I made this conscious decision to inhale this packet of peanut butter cookies even though I may have gained more than expected during the holidays.
But seriously, before starting a business, you really need to state a reason for doing so. Objectives and goals can come after. What is your reason for planning to put up your own business? Is it for the financial gain that comes with it? Is it because you want to pursue your passion and life-long dream?
I read this article of Jeff Haden entitled, One Test Every Entrepreneur Must Take. If you answered “yes” to both questions I raised above, what Jeff says will be a disappointment for you. He says that “Sadly, these two options tend to be mutually exclusive–unless what you love to do is grow a business”.
He continues to explain that there will come a point in time when your business will have to expand and grow to give you the financial gains that you expect. If your business is something that you love doing “hands-ons”, then eventually, you will have to let go and watch it grow from a distance where you may not be able to do the things that you are passionate about.
I actually agree with him. I personally believe that at some point in time, I will have to learn how to delegate and be busy with strategy and direction for my business. Right now, I am enjoying doing everything for Manila Workshops — meeting new people, developing plans for partners, making each learning experience worthwhile and building relationships with suppliers, attendees, and partners.
How about you? Have you thought of your reasons for starting or coming up with your own business? If you want to choose both, you can pretty much do so by determining where line intersects between the income that you will be content with and with the satisfaction that you get from doing things in our business that you love. As a momtrepreneur, this is key. If you and your husband plan to make this business of yours the primary source of income in the future, then you may have to choose financial gain in the long run. If you think that this is just so as to augment or to help in adding to the household budget, then maybe, your reason is to do the things that you are passionate about.
What’s your reason?