Understanding your aspirations for your business is effectively like setting a destination for where you want to be at some point in the future. This is a critical building block for both your new brand and for your business because unless you know what you what to achieve in your business you will never understand to how you are going to get from where you are to where you want to be.
Think carefully about the long, medium and short-term aspirations that you have for your business and categorise them as follows:
Vision – long-term, usually over 5 years in the future.
Goals – medium term, usually 3-5 years in the future
Objectives – short-term, usually 1-3 years in the future.
Please note that these three categories do not stand alone – they should to be linked so that attaining your objectives leads to achieving your goals which, in turn, helps to attain your vision.
You should also spend time understanding where your business is at the moment in relation to your targets and then put plans in place to take action to move from where you are to where you want to be.
It is also important to be flexible with your objectives, goals and vision. The father in the future the aspirations, the more they are likely to be affected by external changes in the marketplace, the economy, etc.