What are your Startup Goals in 2011?

by Chandoo on January 3, 2011 · 7 comments

in Money Matters

New years are great time to set goals and make ambitious plans. As Napolean Hill notes in his beautiful book, Think and Grow Rich,

Whatever the mind of man can conceive and believe, it can achieve.

That is why it is important for us to make goals and set our sights high. Last year, I did not have a startup. So I just had a few personal goals. But this year, I want to set some clear goals for my business and work towards achieving them.

These goals derive from the startup metrics defined earlier.

Financial Goals:

  • To generate $200,000 in revenues. Last year, I made $135,000 in revenues. This year, I am setting an ambitious goal of crossing 200k mark. I have plans to make my existing products even more awesome and create new products to add extra cash-flows.
  • To keep expenses ridiculously low. The expenses are going to increase in 2011. Mainly because, I have hired one full time employee (more on this later). Nevertheless, I plan to keep my expenses very low.

Marketing Goals:

  • To train 1,000 students. Last year, I have conducted training programs for 800 students. This year, my goal is to reach 1000 students. If I make each of these 1000 really awesome in their work, I will be very very happy at the end of this year.
  • To get 2,500 customers. Last year, we had 700 customers. This year, my goal is to reach at least 2500 customers.
  • To have 25,000 members. We closed the year 2010 with 17,500 members (RSS Subscribers). This year, my aim is to breach the 25,000 mark.  The more people I can reach to and help them, the better I feel.
  • To have a Million Page View Month: Last year, the best month in page views was November with 735,000 views. This year, I am hoping to have at least one month with a million page views.

Operational Goals:

  • To simplify product purchase process: Most of my products use automated purchase process. That is, if a customer buys something, she gets it delivered automatically. But, for my training programs, I use manual process to enroll students. This is quite time consuming and error prone. I plan to make it automated this year.
  • To register a Private Limited Firm: So far, I have been running my business as a proprietorship. I plan to register a private limited company this year so that I can grow my business with ease (ie hire people, set up office etc.)

Long term goals (ie, next 3 years):

For startups, long term is not next decade. It is just a few years down the line. This year, I have decided to aim high and actually document long-term goals for my business. They are,

  • To make 1 million people awesome: This is my first goal. I want to make 1,000,000 people awesome in Excel & PowerPoint. How do I measure this. Simple, if 1 million unique people visit my website(s) in any one month before end of 2013, I consider this goal as achieved. Currently that number is at 210,000 per month.
  • To cross $1 million in profits before tax: The word million feels magical. It is my aim to reach that level in profits before tax by 2014. Getting there requires a lot of imagination, hard work and planning. And I am ready for all that.
  • To train 10,000 people in Excel & PowerPoint
  • To cross 1500 article mark: So far I have authored over 700 articles on Excel. I aim to write more in the coming years and share whatever I learn. By 2014, I want to cross the 1500 mark.
  • To conduct 10 live training workshops: I have been always fascinated by the prospect of doing face to face workshops. So far, I did only 1 workshop. But I aim to do more in this year and next few years.
  • To have a meaningful life: Not that I live a meaningless life now. But I will continue to give back a portion of my fortune to others, help people whenever I can, live frugally, consume little and make people laugh in the coming years. I will do all these even if I fail to achieve any of my other goals.

What about you?

What goals are you setting for your self  and your startup? Please share using comments. It would be fun to know each other and help.

{ 6 comments… read them below or add one }

healthdurbar com January 3, 2011 at 8:34 pm

this is awesome. we wish you all the very best in all your endeavours. great job…keep it up

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apex January 4, 2011 at 10:06 pm

Excellent work you're doing here chandoo. I have read every single one of your posts and I'm inspired just reading through your posts.

One comment though, navigation to your old posts wasn't too easy. I had to depend on the previous post link at the bottom of the page to rifle through. Suggest you have an archives section sorted by months. That way, readers can jump straight into a particular month and scan through your archives easily. My 2 cents…

Well done for all the efforts

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Chandoo January 5, 2011 at 8:36 am

Thanks Apex for the kind words. I am happy you find the articles useful and inspiring.

I like your suggestion on improved navigation. Let me figure out easiest way to setup archives page.

Reply

Amit January 5, 2011 at 4:37 pm

Hi Sir
Happy new year!! I find your blogs and your posts on pagalguy especially in the " All I Want to Speak about CAT " book really engaging and inspiring!! Now it is inspiring to see that you are succeeding in your goals and enjoying life
Keep up the good work!

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Neha Seth January 5, 2011 at 6:49 pm

Hi Chandoo,

Thanks for the above post that has helped me in this dark phase.

Currently. i'm working in IDFC, Delhi and this season of MBA has gone in vain too and I wasn't sure what to look forward to but reading your article on PG helped me to know what to do with this time till I know what else to focus in life.

Btw, since last July I have subscribed to your Excel but cause of lack of time didn't really read it but saved them for future requirement and I feel the time has come to dust it off. As I was saying, don't know what to focus on in life so I have decided to Learn and Use Excel. Being a Statistics Graduate, what best way to brush up my course and learn something new and that is exciting 😀

For the time being, Learning Excel is my goal.
Thanks for the work you have done and this particular post.

Regards,
Neha

Reply

Avadhut January 6, 2011 at 11:12 am

Chandoo,
Quite inspiring thoughts. More than anything else,I think you DECLARE these plans to keep YOU on track and remain self-motivated. For an entrepreneur, self-motivation is the biggest requirement.

Avadhut
http://www.analytics.net.in

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