Many people wish to someday become entrepreneurs. However, you need to have perspective. For one, there is a big difference between dreams and goals in terms of becoming a business owner. Knowing the difference can do a lot towards helping you make the correct life decisions. Below are a few differences between goals and dreams.
Goals Require More Concrete Planning than Dreams
One of the biggest differences is that goals require concrete planning. For example, you may some day dream about being successful enough in business to own a large house. While that would probably be nice, how to get there isn’t very clear. Compare this to the goal of getting a specific product onto store shelves. You have to develop and test the product, manufacture it, obtain distribution for that product and then market it to customers. This requires things happening for a fact that must be planned out beforehand.
Dreams Don’t Have Deadlines Unlike Goals
Dreams always come in the context of, “someday I hope this will happen.” A goal, on the other hand, must be achieved in a specific time frame to be successful. Launching your new start-up this June is a goal. This goal can either be met or not. Alternatively, having a dream of being a business owner can be achieved at any point in your lifetime. Overall, goals should always be far more urgent. You should know when exactly you need to meet them.
Goals Must Be Based In Reality, Dreams Don’t Have to Be
Dreams have endless possibilities. The only limitation is your imagination. While you may dream about your products suddenly being consumed by every household in the world, a goal needs to be grounded in reality. While you may aim for the moon, it is doubtful you will instantly become rich beyond your wildest dreams.
Instead, you should set concrete goals for your business that are achievable in the given market. Keep your expectations reasonable. Failure is also a strong possibility that doesn’t exist in dreams. About 50 percent of businesses fail within the first four years.
Goals Require More Focus than Dreams
Focus is not a requirement for dreams. Your dreams don’t necessarily have to be coherent. You could imagine being a wildly successful entrepreneur while also having nothing but free time to explore your hobbies. However, to achieve goals in the real world, you will need focus. Leading a new business to success takes more than good ideas. It will require complete devotion and near 24 hour attention to all aspects of your company. Free time is a luxury that many business owners don’t have.
Dreams Are Free, Goals Are Not
Anyone can have any dream they want to. There are no limitations. Dreams are free and available to everyone. Goals, on the other hand, require specific costs. This includes money, time, effort, hard work, blood, sweat and tears. They certainly aren’t free.
If you ever try to achieve the goal of being a business owner, you will certainly be making sacrifices. According to Inc.com, business owners work twice as much as their employees. If the costs of being a business owner in terms of time, effort and money don’t seem worth it to you, you may be better off sticking with dreams.