Not everyone dreams of running a global empire. For some, a successful business might mean a steady income and work-life balance. For others, it could mean building a community-focused, sustainable or impactful organisation. Whatever your aspirations, defining them early on will guide your decisions and set you up for long-term success.
Turnover: How Big Should Your Business Be?
Your turnover goal will influence almost every aspect of your business strategy, from pricing and marketing to operations. Ask yourself:
- Considering the likely profit margins, what level of revenue will meet your business goals?
- Is growth a priority, or do you prefer to maintain a steady, manageable income that allows you space?
- Who is your target audience and how big is the market you are serving?
A business aiming for six figures will look very different from one targeting seven or eight. Be realistic about your market, industry, and capabilities while leaving room for ambition.

Structure: Branches and Employees
Will your business be a solo operation, or are you planning to build a team? Consider:
- Do you envision opening multiple branches, or will you focus on one location?
- Will your team be in-house, remote, or a mix of both?
- How many team members will the business need, and what skills (and personal values) should they bring?
Think about the level of responsibility you’re comfortable with. Managing a team and multiple branches requires different skills and systems than running a small, owner-operated business.
Personal Income: How Much Do You Want to Earn?
Your personal financial goals should be at the heart of your business plan. Determine:
- What income will support your desired lifestyle?
- How much do you need to save for retirement, investments, or other long-term goals?
Understanding these numbers helps you price your products or services appropriately and establish clear revenue targets, as well as inform the culture of the organisation.

Time Commitment: How Many Hours Will You Invest?
One of the greatest advantages of running your own business is flexibility, but this comes with a caveat. You need to decide:
- Are you comfortable working long hours to build your business, or do you value a strict work-life balance?
- How will your time investment evolve as your business grows?
- Do you love to be at the forefront of delivery, the director of operations, or do you aspire to be a non-exec director? All have great rewards but are fundamentally different and need to match your personality and values.
For some, the goal is to work fewer hours as the business matures. For others, it’s about being deeply involved in every aspect. Be honest with yourself about your priorities and motivation.
Succession Strategy: What Happens Next?
Even if you’re just starting out, it’s never too early to consider your exit strategy. Think about:
- Do you want to sell the business, pass it on to family, or eventually close it?
- What steps will you take to make your business attractive to potential buyers or successors?
- How will you develop intellectual property and a fantastic reputation to ensure you get the best value?
A clear succession plan ensures your hard work leaves a lasting legacy, even when you’re ready to move on. It will also give you the opportunity to seek appropriate tax advice in plenty of time.
Bringing It All Together
Once you’ve outlined these elements, you’ll have a roadmap for building your business. This vision will act as a filter for every decision you make—from choosing a business model to hiring employees and managing finances. It will also keep you focused, motivated, and aligned with your personal goals.
Remember, your business is a reflection of your aspirations. Whether it’s a boutique consultancy or a thriving national brand, success is what you define it to be. By visualising the end goal from the start, you set yourself up for a journey that is both fulfilling and sustainable.
Without a clear vision, a business is like a ship without a destination—at the mercy of the wind, drifting aimlessly wherever the currents take it. But with a defined goal, you have a compass to guide you, ensuring every step brings you closer to your dream.
So, take the time to dream, plan, and envision. Get a coach or trusted adviser if you need to, and document your thoughts. Your future self will thank you for this investment.