The idea of setting your long-term goals may seem like a waste of effort with so many thoughts running through your head. That being said, it is extremely difficult to achieve business success if you don’t set out your ultimately where you want to go. This is especially true in light of the fact that these goal have to take into account both your personal and professional aspirations.

Any well-run business will have clear and defined long term goals that set the direction of the company and short term objectives that drive those long term goals. These are important to the entrepreneur as they clarify the purpose of the business and help identify necessary actions. For entrepreneurs, your long-term goals must encompass not only the goals for the business but your personal long-term goals.

“Plans may require the help of others.” 

Imagine that the date is five years from now. Where do you want to be? Will you be running a business that hasn’t increased significantly in size? Will you command a rapidly growing empire? Will you have already cashed out and be relaxing on a beach somewhere, enjoying your hard-won gains? Answering these questions is an important part of building a successful plan. In fact, without knowing where you’re going, it’s not really possible to plan at all.