You have decided to start your own small business selling SkatePlatesmini skateboards which clip on to users shoes. You think you have a good product, but know there is lots of competition for the target market you hope will buy your product.

You hope to quickly develop a solid customer base before consolidating in years 24 of your business. In five years you hope to enter a growth phase.

You recognise the importance of developing profit goals/ targets and have decided to document the various methods so they remain at the forefront of your mind.

1. Describe at least four methods you could use to help you set appropriate profit goals/ targets.