Business Objectives Of Starting A Business

810 Words Nov 24th, 2014 4 Pages
I have learned that when starting a business, the following items must be addressed:

1. Mission Statement

Develop a simple statement that will express the business’s vision and convey the company big picture. This allows the mission statement will put the vision into words and set the tone for the company objectives. The mission statement becomes the blueprint for the core values of the business and helps to establish a code of conduct.

2. Setting Business Objectives

It is important that business objectives be clear and realistic. The objectives are necessary for owners and employees. The objectives should also be measurable, which will ensure that the objectives can be reviewed and the best way to achieve the objectives.

The business objectives assist the business in focusing on maximizing the business potential. The business objective will also assist the business owner in creating a business plan. The business objectives should be reviewed and updated as necessary. Objectives assist business owners in creating a competitive edge by allocating goods and resources.

3. Identify Target Market

Business owners must identify their typical customer and then market to that customer base. In today’s economy having a niche can be very effective. This allows you to focus your message and marketing money to specific market.

You can define you target market by looking at your current customers base. Define who they are and what you sell to them. Check out your…
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