Starting your own business presents many challenges as well as the potential for many rewards, and all of us know how important it is to have clear, concise information to make smart business decisions. Our goal is to share experiences about the dynamic, exciting small business community. Our economy depends on entrepreneurs like you and is counting on you to help expand the growing tradition of small business opportunities. Use these guides to help you as you navigate the world of entrepreneurship and grow your small business.


SMART Goals


S = Specific
M = Measurable
A = Attainable
R = Realistic
T = Timely

So what is a SMART goal? You might find it helpful to apply the following questions while in the process of exploring your business ideas:

1. Specific – What will I be attempting to accomplish specifically in my business?

2. Measurable – How will I measure my success? How will I know I have succeeded in my goal?

3. Attainable – Have I set an attainable goal? What commitment will be required to attain that goal? Am I willing to make that commitment?

4. Realistic – Is this goal within my reach or beyond my reach?

5. Timely – Is this a good time in my career and my life to start this business? Is it a good time to hit the market with this business idea?

Setting goals for your business is a necessary and invigorating process. Write your goals down and continue to review and revise them as often as necessary. Seeing your plans “in writing” gives a sense of reality to your entrepreneurial goal.

Your Turn: Write down your goals for your business and apply the SMART process to each one. After the exercise, what did you find out? Did you revise some of your goals after applying the SMART process to them?

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Forbes.com: Entrepreneurs and Small Business News and Information

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Start-Up Toolkit

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This series of guides on entrepreneurship has been developed just for you, a person who is thinking about starting a small business or who has made the commitment to start one. It is targeted to people who are considering starting a small business as well as small business owners who want to learn more about successful strategies and skills. We have worked with a team of small business owners like you to develop, write, and produce this series.

These guides contain a wealth of information on starting and running your business and also include activities, worksheets, self-assessments, glossaries, and valuable additional resources for you to consult along the way. Entrepreneurship is the process of organizing, managing, and assuming the risks and rewards of a business or enterprise. Most people see entrepreneurship as the opportunity to pursue the dream of working for themselves. For many, it's not always about the money, but rather, about the passion and the challenge. Are you ready?