For business success, set personal, family and business goals.

by Jerry L. Quinones · May 28, 2022

Setting goals is important for business and personal success. It is an important part of the strategic planning process. It provides an overview of Strategy Planning for Farm Businesses (C6-41) and how goals fit into this process.

Goal setting is a process that addresses questions such as:

What is my ideal life?
What is my dream family?
What is the ultimate goal of my business?

These are difficult questions to answer. Spending time thinking about your goals can help you find direction in your life.

You can set goals that will guide you in your life and business. Setting goals will help you:

To achieve the desired results, focus your attention and take action.
Mobilize your energy and effort.
Your persistence should be increased
Give direction on how to develop strategies to achieve the goals.

It is important to write goals and keep them in mind throughout the planning process. You should also make sure they are being checked periodically to ensure you’re on the right path.

Personal Goals

Strategic planning starts with identifying and setting personal goals. The personal goals can be expanded to include family goals, which will lead to business goals that can be used as input in the strategic planning process.

Every person involved in the operation and maintenance of the farm should clearly understand their goals. Your personal goals could include achieving happiness and fulfillment for yourself or someone you love.

Here are some examples of personal goals.

To maintain good health.
To have a trusted circle.
To be financially secure.
To be active and involved in a religious life.
To finish a college degree.
To raise happy, productive and responsible children.
To be a part of a loving extended family.

Family Goals

Family goals are about achieving the family’s common goals. Family members must work together to identify and set goals for the entire family.

Here are some typical family goals.

To provide financial resources for each member to reach their personal goals.
To ensure good health for all members of the family.
Maintain a home that you love.
To have a child or a grandchild join the family business.
Enjoying leisure time together as a family.
Encourage each member of the family to attain the highest education possible.
To be able to provide enough financial support for your family.
To raise happy, productive and responsible children.
To be active and involved in a religious life.
To keep open and productive family communication.

Business goals

These are your goals for the farm business. Business goals are not the end all be all. Business goals are not meant to be achieved. The personal goal to become the largest farmer in the county is the business goal. Another example is to create a good business to fund your children’s tuition.

Business goals are another way to examine the connection between personal and family goals and business strategy. Business strategy is designed to reach business goals, while business goals are used for personal and family goals. A family might want to improve its standard of living. Therefore, a business strategy must be developed to increase the company’s income.

Here are some specific goals for businesses:

To provide a stable and sufficient income for our family and employees.
To conduct business ethically and fairly
To preserve natural resources and to maintain a healthy environment.
To allow family and employees time to enjoy vacations and leisure.
To find stimulating work that offers new challenges in changing times.
To offer a chance for a son/daughter to join the business.