Targets for 2010

I spent sometime thinking about where I wanted to be at the end of 2010. I have never really approached a new year like this, like a business approaches a new financial year. But now that I am in business for myself I have to start thinking more like an entrepreneur with a more business like approach.

I think any business does a financial forecast as well as some kind of a strategic business planning. So I too am going to focus on two key areas: Financials and Growth.

Financials

Personally I had a financial goal of earning $2500 a month. I had set this as my ultimate earnings goal while I was still working a conventional job. I never achieved this as an employee but as a freelancer I have achieved this target for the last 5 months.

But when thinking like a freelancer it may not be practical expect a regular monthly income at the same level. Therefore I am going to set myself an annual revenue target of $36,000. That roughly translates to $ 9,000 a quarter.

Growth

I want 2010 to be the year that my freelancing grows out of being a single person operation. I have talked about career progression for a freelancer and in my view the ultimate progression for a freelancer is transforming the business to a company.

Employee –> Own Boss –> Boss

I would want to take make that transition happen in 2010. Now I already have a company registered under my name, but it is a dormant business, without any employees or a business to speak about, as I still operate as an individual, charging my clients as an individual and my capacity limited to what I can do. But in 2010, I would like to grow my business into a company, with employees and an operation with a sizeable income earned in the name of the company.

For this, I have a couple of opportunities where I have been invited to join in for joint ventures and partnerships. I am going to actively pursue these opportunities in 2010 and become part of a new venture or bring my company to life.

Apart from these I have a whole load of personal goals that I want to achieve in 2010, mainly to work some of my personal weaknesses and generally working towards becoming a better person, husband, father, brother and son. But those I shall keep out of this blog in order to not to give in too many clues as to who I am!

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