The S.M.A.R.T way to set and smash your business goals
Since the dawn of your business, you have most likely been bombarded with an abundance of different goal-setting methods as a way of smashing your business goals. If your business is only just emerging into the big wide world of commerce, you may be a bit puzzled on which method to take on board. A business is defined by goals and without thinking SMART about them, you will have nothing to strive for.
How to think SMART about your business goals
“How amazing would it be to have 10,000 Facebook likes!?” You say one day after making a Facebook business page. It would be amazing wouldn’t it? But think about it, how exactly could you transform this foxy resolution into a bottom-line result?
Business goals are essential to your firm’s growth and unlike your new year’s resolutions, it is imperative that you tackle them head on. Because of this you need to make your goals SMART. Attune them to the following criteria and review them either daily, weekly or monthly.
What exactly do you want to achieve? More clients? How many? By When? Great business goals are well defined, focused and clarified. By precisely answering the 5 W’s – Who, What, Where, Why and Which – and establishing a clear picture of your business objectives, you can achieve clear-cut goals with a purpose.
In any way, shape or form, numbers are indispensable to the business world. To smash a business goal, it must be quantified and accessed. Setting a time or tracking your progress on a calendar means that your business gets closer and closer every second to popping some streamers and partying over your success. Without a way of measuring your triumphs, you miss out on experiencing the exhilaration of your achievements.
It can be pretty discouraging when the bar for a goal is set as high as the Empire State Building. As disheartening as it is to admit, your business can’t take over the world in one night, so maybe opt for a more attainable goal. Setting goals is meant to be an inspiring task that spurs ambition, not erodes confidence. Hence, you need to be proactive and realistic and think about what skills and tools you need to accomplish them.
From the grand scheme of things, business goals must be relevant to your firm’s overall mission. Saying you would like to run 20km in 2 hours may be specific, attainable and time bound but it isn’t at all relevant to a goal unless you are training for your next half-marathon. Therefore, relevance is key, and individual business goals should always align with your business objectives.
5. Time Bound
Drawing a line in the sand and giving your business goal a deadline creates a sense of urgency and establishes a greater likelihood of accomplishment. Whether it be weeks, months or years, a timeframe enforces motivation and reinforces the priority of a business goal.