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Step 1: The Objective
Our first focus in setting yourself up for small business funding is the most important of them all: The Objective. Many people don't have a clear idea of what success or winning looks like. Even if they do, they often haven't thought it all the way through and almost never write it down. I am going to help you do that today.
Setting Clear Objectives (Goals) That Get Funded
A clear and well-defined objective is crucial for attracting funding. Here's how to set objectives that will help you succeed:
Check out our simple 7-part objective framework to start you on the path of setting your business up for funding:
Define Your Mission: What is the purpose of your business? Why does it exist? Clearly articulate your mission to guide your strategy and decision-making.
Define Your Vision: What does success look like for your business in the long term? Be specific about your vision and how you see your business evolving in the future.
Decide How Much Funding You Need and Why: Determine the exact amount of funding you need and the reasons behind it. Be clear on how the funds will be used to achieve your business goals.
Set SMART Goals:
Specific: Clearly define what you want to achieve.
Measurable: Ensure your goals can be quantified.
Achievable: Set realistic goals that are attainable.
Relevant: Make sure your goals align with your overall vision.
Time-bound: Set deadlines for achieving your goals.
Write It Down: Document your objectives and goals. This not only solidifies your commitment but also makes it easier to track your progress and make necessary adjustments.
Break It Down: Divide your main objectives into smaller, manageable tasks. This makes it less overwhelming and allows you to tackle each step systematically.
Review and Adjust: Regularly review your goals and progress. Be flexible and make adjustments as needed to stay on track.
To make this process easier, I've created a simple step-by-step template for setting clear objectives that get funded.
Click here to access your free 5-minute worksheet:
Before you dive into the worksheet, let me lay out how to do it here:
Start by writing down your ultimate business goal.
Break down this goal into smaller, actionable steps.
Assign deadlines to each step.
Identify the resources and support you need to achieve each step.
Regularly review and adjust your goals based on your progress and any new insights.
By following these steps, you'll be well on your way to setting clear objectives that attract funding and set your business up for success. Stay tuned for the next installment in our series, where we will continue to build on these foundations.
Remember, we are committed to your success. Let's build something great together.
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