Long Term Objectives

My long –term objectives or goals will be based on my current financial status. Initially I have to set up my goals monthly, quarterly intervals followed by yearly intervals and the first thing I have to establish some cornerstones that I can use to gauge the rate of performance of my business. The most logical options would be the sales figures as well as the revenues that the business is making.  I will prefer to use my quarterly net income as such cornerstone.

The next step would be to create financial goals in relation to the financial performance of the company in its last business year. For example, if it cost me $10,000 to run the business last year, set a goal that in the current financial year, it will cost me $7,000. Then, if the business made $20,000 in profits in the last financial year, I have to set a goal for $25,000 for the current year. The main aim is to set goals that will decrease my expenditure while increasing my income and thus, my business will be profitable.

My long term objectives are to double-up my revenue within 3 to 5 years from where I am right now by increasing my resources.