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I fully agree to your point to have a small number of business objectives. Actually I sometimes insist my small business clients on focusing on a single business objective. I believe that their overall business resources are too scarce to allocate to more than one business objectives.
In my experience, if they pursue the single business objective devotedly enough, the other business objectives (maybe somewhat related to the first one) will be automatically halfway met.
In case that any of those clients insist on hoisting multiple business objectives at the beginning of its fiscal year, I let them have as many business objectives as they want, which must be scheduled to be pursued one by one in the year. Quarterly switching the business objectives, for example, intuitively appears difficult. They usually give up the idea of hoisting multiple business objectives.