Setting financial goals for your home business

Setting financial goals for your home business involves a lot more than just picking a number from the air and plunking it in a spreadsheet. And you need to do more than just look at last year’s numbers and add five or ten percent. To set accurate goals, you need a marketing plan or at least a basic business plan.

A marketing plan will help you size your market and determine how to reach it. With that in mind, you can look at marketing programs and tools that will help you build your customer base — and thus your revenues. You can develop projections for generating leads, converting prospects and making sales. And that’s what should drive your financial goals.

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