Page 24 - INSIGHT MAGAZINE_Oct2025

SMALL BUSINESS

Setting goals as a

leader beyond the

balance sheet

What do you want for yourself—
and your business?

Being an entrepreneur is personal as much as it is
professional, says BDC Senior Business Advisor Jivi
Cheema. “Say you run a carpentry business, but your big, passionate,
While goals for businesses often include increasing sales, growing personal cause is children’s education,” Cheema says. “Then you
margins, accessing new markets and the like, Cheema says it’s might say you want your impact to be something that increases
important for entrepreneurs to think bigger—and broader. literacy for kids—and for people to remember you as someone who
gave back to the community.”
“Your business is a vehicle for achieving what you want both
personally and professionally,” Cheema says. “I always encourage As an alternative, Cheema suggests you might want to spend more
leaders to set goals that will help them realize their full life vision, time with your family, raising your kids as well-rounded people with
which goes way beyond the balance sheet.” strong values, and to be seen as someone who was always there
when they needed you.
The personal and professional can work together Whatever the case, those answers can then point toward personal
Cheema says most entrepreneurs understand the importance goals that your business can help you achieve.
of setting business goals, and many also set personal goals for
themselves, but she rarely sees entrepreneurs tie the two together. Connecting to your business
“But it makes so much sense to do so,” she says. “When you set The next question Cheema asks is: What has to happen in your
up your business and personal goals so they complement each business so you can pursue your personal goals?
other, you can significantly improve both your personal and your “Let’s go back to our carpentry business and the owner who wants
professional satisfaction.” to boost literacy for kids,” Cheema says. “A concrete goal might be
to set up a company-sponsored program to take books into schools
Three guiding questions and read to kids. Well then, you know your business is going to have
Cheema—who has a PhD in organizational and human behaviour and to be ready to operate without you while you’re away doing that. So
an MBA in leadership—starts by asking leaders three deceptively you need good processes and a strong management infrastructure
simple questions: to keep the business running smoothly in your absence.”
1. What’s really important to you? Following the example through, Cheema says those goals could
2. What impact do you want to have on the world? spur a hiring initiative, or some process work to clarify company
systems and ways of doing things. These serve the business and
3. How do you want people to remember you? also support what you want to achieve as a leader.
The answers can be as grand and lofty or grounded and modest as Monitor your progress
you like.
Whatever goals you pursue, Cheema advises setting a maximum
of five personal and business goals. Any more, and it’ll be hard to
devote enough focus and resources to each to advance them—and
to keep track of your progress.
“Each of your goals should also include key performance indicators,”
notes Cheema. “Specific, measurable indicators that you can track
concretely to assess how things are going.”
She also stresses the importance of checking in on those indicators
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regularly—monthly is possible, or at least quarterly.
“You don’t want to leave it too long, because if you start to get
off track, you want to know as soon as possible so you can make
www.mcgeochelectric.com whatever adjustments you need to get you back on track.”
aj@mcgeochelectric.com
McGeoch Electric
@mcgeochelectric Serving Cambridge and the surrounding areas.

24 Fall 2025 www.cambridgechamber.com