Business Goals

Create SMART goals

Business goals are embodied in its plan. What are these goals that businesses need? Simply, business goals need to be SMART.

S -pecific

Set specific goals for your business. Don’t just say, I want to improve profits next year or I want to increase sales. State how much you want profit increased by, so a plan that states that I want a 10% increase in profit or a 300 units increase in sales volume is far better. When you don’t have specific goals you will have nothing to measure against.

M -easurable
Your goals must be measurable. Therefore, if you want to achieve your goal of 300 units in sales within 12 months then you need average sales of 25 units per month, you can measure in smaller stages to achieve a bigger goal. You should have a method in place for achieving this, maybe you need more material, new equipment, more employees or you need to re-assign work tasks.

A -chievable

It must be possible to achieve your goals. Therefore your goals should be within reach, if not, you are setting yourself up for failure and disappointment. If you are a newcomer and the industry’s average sale for the top business is 200 units per year, how likely is it that your sales would be 300 units for the same period?

R -ealistic
Goals must be realistic. Realistic goals are challenging, but attainable. Mind you, there need to be optimism, but within reason. You have to be willing to work towards accomplishing your goals or it will not be achieved.

T -imely
Every goal must be set to a specific time period. This will help you to measure your progress and keep you on the necessary path.

Your SMART business goal must answer the… What? Why? Who? When? How? Questions.


Why Not Create Your Own Franchise?

Popular franchises

Ever thought of creating your own franchise?

If you have a secret family recipe that gets all your friends drooling, keep it your secret, start your own small restaurant and franchise your business. Maybe it is not a family recipe; it could be just about any idea, from accounting to writing! There are many people out there like you who are looking for an opportunity to invest in an idea started by someone else, that someone could be you.

Of course the routes will differ depending on the nature of your business…always do your homework.


Start up business list

Startup business

This is a followup to the previous article ‘Business Ideas‘. Below is a list of careers and business examples that are worth considering for startup businesses.

Art dealer
Auto mechanic
Automated telemarketer
Bed & breakfast hostel
Betting agent
Business plan writer
Computer programmer
Create puzzles / word games
Craftsman / woman
Cyber shop owner
Dating website
Day care service
Debt collector
Delivery person
Desktop publisher
Design a business system
Drapery maker
Direct mailing
E-book publisher
Electronic marketer
Engineering consultant
E-zine publisher
Fashion designer
Financial analyst
Flower arranger
Funeral home
Game arcade
Graphic artist
Hotel owner
Jewellery making
Lawn maintenance
Modelling agent
Online tutor
Pastry maker
Personal Computer (PC) repairs
Pet sitting
Pet grooming
Physician (private)
Produce book index
Real estate agent
Real estate investor
Retail shop
Salon (hair, nails, feet)
Security Firm
Shoe repairer
Software author
Small law practice
Small pharmacy
Start a newsletter
Start a magazine
Start yellow pages
Taxi operator
Tax return preparer
Technical writer
Thrift shop owner
Travel agent
Trivia question writer
Vegetable / fruit producer
Virtual assistant
Web designer
Web developer
Wedding planner
Window cleaner
Buy an already successful business


Sources of Business Ideas

When we decide to start a business or look at self-employed income options, we are often left wondering what to do. Business ideas however can be easy to come by. Many people start a business in an area of interest, such as writing or bookkeeping. The possibilities are however endless and they can come from many different sources. If you are currently thinking of starting your own business, but are not sure what business you want to start, then maybe reading this article could help you on your way. Below are some sources of business ideas:

Present / Previous Employment

A large number of small businesses are inspired by present or previous jobs. If you were great at your job, it could be a good idea to start your business in this field, as you would bring experience and know-how to your new business.


What is it that you like to do? Often we are prepared to put a lot of time, effort and money into a hobby, why not consider making money from it? Many writers, for example, first started writing as a hobby.

Niche Markets

Sometimes small pockets of a market are not being satisfied by the general market; make an observation, do your research – Is there a need you could fill?

Personal Observation

Look around you, is there a need in your community that is not being satisfied or maybe the need is in a neighbouring community?Business Ideas


Many products are derived from the waste of other products, for example, using scraps of materials to make colourful rugs for children or using coconut trash to make coconut cakes. Sometimes businesses dispose of things that could be used to make other products or charge a minimal fee for the waste.

Is There a Product on the Market That Needs Improvement?

You are a consumer, there might be products that you think could do with more or less of particular ingredient, if you think you could do a better job, and can source the necessary assistance…well make a start.

Distribute Someone Else’s Products

You do not have to create your own product, why not market or distribute someone else’s product for a percentage of sales?


Find market overseas for locally produced goods; research could prove integral to starting. Perhaps you have travelled to other countries and have noticed a lack in certain areas of the overseas market. Get information from the relevant authorities on how to proceed.

Buy Downtown, Resell Uptown

You will be surprised at the vast differences in prices for similar products in these two markets, other people capitalise on the price differences, why not you!

Business, Magazines, Newspapers, Trade Magazines and Newsletter

These are also good sources of ideas.

Government Agencies

There are certain government bodies that can provide information about gaps in the market, make use of them.


If you have the cash and do not mind giving up some control (much control in some instances, depending on the business) this could be an option for you. There are many franchise businesses out there, check them out, and see if any suit your interest or your pocket.

Brainstorming - business ideas


Gather a group of family and friends, use this group to suggest and evaluate business ideas.

Current Market

Check market trends and see what’s happening. Which products are being sold quickly in the market at the moment?

Look at Importations

Are there products being imported that you could produce at the local level? If particular products are being imported on a consistent basis, this is an indication that there is definitely a market that is not being adequately provided for by local producers. Many people are willing to support local producers even at the expense of paying a bit more for the product.

Supplying Raw Material

Larger businesses sometimes depend heavily on small firms to supply raw materials. For example, larger firms in the canning industry depend on small farmers who produce fruits and vegetables. Find out if there is a market for raw materials that you could fill.

Invent a Business

Many of life’s pleasures were born from simple ideas. If you have an idea that could prove beneficial, do not just push it aside because it is new; entrepreneurship is about innovation.

Business ideas

Buy an Existing Business

Many business owners start by buying an existing business. If you know of viable businesses being sold and are able to make a purchase, consider the possibility of owning one.

Specialised Products

– Some goods and services are too specialized for large firms and work better for small businesses. Find out more about these.