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Business Planning – What is a Personal Objective?

Personal objectives

In order to help give meaning to your business, it is important that you identify and articulate your goals in life – your ‘Personal Objective’.

Your Personal Objective is your innermost driving force; it gives you a sense of direction and purpose; it motivates you to your highest levels of energy, and puts you at your best. Your Personal Objective is about leading a life that is consistent with your core values and beliefs and it’s an essential starting point for any business. Your Personal Objective sits within you and you may not have identified it yet.

The purpose of a Personal Objective is to create meaning beyond work so that you can start living your life intentionally, rather than randomly. The objective of a Personal Objective is to decide on your personal goals so that you can build a business that supports your life - rather than one that you spend your life supporting.

Why is the Personal Objective an essential starting point?

Over the last decade, business owners in the financial services industry have had to turn their attention towards implementing increasingly sophisticated business structures in order to meet mounting administrative and regulatory responsibilities and challenging sales targets; more and more time is being consumed by work. In many cases, your business will be the first thing you think about when you get up in the morning, and the last thing you reflect on at night. No matter how much of your attention is focused on the detail, it’s important to bear in mind the reason why you started your business in the first place.

Examples of Personal Objectives:

  • Find the ideal home for my family and within 15 years, pay off my mortgage.
  • Ensure my children have a good education from junior school through to university.
  • Retire by the age of 50 so that I can relax, enjoy life and travel the world.



Support material

Business transition – the importance of business planning

Business transition

 – the importance of business planning. By Mike Leeson

Read the article
The business plan: Ready! Aim! Fire!

The business plan:

Ready! Aim! Fire! By Mimi Pienaar

Read the article
Management: a key indicator for business success

Management:

a key indicator for business success. By Mimi Pienaar

Read the article
Download the Business Planning module as a PDF

Business Planning

The four key areas

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