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Is the solution you are proposing solving a relevant social or economic problem?
Analyze your strengths and weaknesses and see if you can achieve what you propose. By doing this, you will be able to identify the most favorable path to direct your business through to have the maximum profit.
Weigh how much effort and resources will be required to achieve your goals and how much you will gain if you achieve them. You will know which obstacles to avoid and which opportunities to capitalize and concentrate on.
This rule will measure your ideas and give you the analysis you need for you to proceed to the next stage of having a successful business. Be Specific Now that you have the golden rule on your fingertips, you begin by defining your goals and objectives for your venture into real estate.
You will have to be very precise at this stage to eliminate all ambiguity from your objectives.
You must portray that you understand the chronology map for your business.
You must show how your idea conforms to the expected timeline and how you achieve the business milestones.Be Realistic This is where you must judge whether reaching your goals are relevant to you.If, for example, your goal will evolve into a multinational organization, do you have the relevant skills to manage an entity of such a magnitude?By doing this you will be able to scrutinize your goals objectively and have a bias free analysis.Having such kind of goals will be of much profit to you and your business by refining and sharpening your focus.Each of your goals must be able to be broken down into measurable units.It defines the outcomes and effects of achieving your goals.Having clear objectives will ensure that you will go through the entire process smoothly and successfully.Give yourself enough time in this stage to do some good amount of thinking.A successful business has a solid foundation in a clear and precise planning stage.Defining your goals and objectives with specificity will help you observe the golden rule when it comes to business planning: SMART goal setting (Specific Measurable Attainable Realistic and Time bound).