Business Objectives

A business objective describes what you want from a business and how you will organize the business to meet this objective.

You will define where you're going and how you're getting there by answering questions such as:

• Will you work alone or with partners?
• Will you use innovation and change within a large organization as an intrapreneur?
• Will you build a business and then sell it for a profit or take it to an initial public offering (IPO) as a public stock company?
• Are you interested in a business venture that will be your life's work, or a business that is a hobby mostly for your own satisfaction?
• Are you building the business as a family operation with the hope that your children will take over the business?
• Is your guiding principle to make a lasting contribution to society, or is it to make a profit so that you can quit your current job?
• Are you raising your standard of living through the growth and profitability of your business, or are you looking for a particular lifestyle in entrepreneurship?

Business objectives can take a variety of formats. Entrepreneurship can mean a business start-up, innovating within a large firm, or being in business on a very small scale with freelance projects.