Setting goals for your business is a very important step in achieving success. But not just any goals – SMART goals. What are SMART goals? SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. In this blog post, we will go over each of these components and show you how to set better business goals using the SMART framework.
What Are SMART Goals?
A SMART goal is a goal that is Specific, Measurable, Achievable, Relevant and Time-bound. SMART goals help you set better and more effective goals for your business. SMART is an acronym stands for Specific, Measurable, Achievable, Relevant and Time-bound.
Why Should I Set SMART Goals?
There are many reasons why you should create SMART goals for your business. SMART goals help you to:
– Define and focus on what you want to achieve
– Set a time-frame for achieving your goal
– Measure progress and know when you have achieved your goal
– Stay motivated by seeing tangible results from your efforts
How Can I Create SMART Goals?
Now that you know what SMART goals are and why you should create them, let’s go over how to create them. The SMART goal-setting process is broken down into the following five steps that you can remember by the SMART acronym:
Step One: Specific: Be Specific When Defining your goal
The first step in creating a SMART goal is to define what you want to achieve. SMART goal-setting requires that you be as specific and detailed in defining your business or personal goals as possible. To do this, ask yourself the following questions:
Who is involved? What will I accomplish with SMART goals? Why is it important? Where will my SMART goals take me? When should my SMART goals be achieved? Which SMART goals should I start with?
Step Two: Measure Your Goal
The second step in SMART goal-setting is to measure the progress and results of your goals. You can do this by asking yourself questions such as: How much time will SMART goals take? How much money is needed for SMART goals? What resources are required for SMART goals? How will SMART goals help me reach my goal? It is important to make sure your goal is measurable and to define the unit of measurement when you set goals. If you set a measurable goal you will be able to track your progress and re evaluate your SMART goal as you reach key performance indicators.
Step Three: Achieving Your Goal
The third step in SMART goal-setting is to determine what you need to do in order to achieve SMART goals. To do this, ask yourself questions such as: What are the obstacles that may prevent me from achieving SMART goals? What are the steps I need to take to achieve SMART goals? What resources am I missing to achieve SMART goals?
When you write SMART GOALS it is important that you set an achievable goal. You want to use this step as a reality check as both unattainable goals and unrealistic goals can result in wasted time and can often be demoralizing if success is not attainable. Setting a realistic attainable goal is the best way to achieve success and accomplish your goal. When you are setting goals it is important that you are also aware of the opposite issue of setting objectives that do not reacquire your to develop new skills or grow. When setting objectives you want to select a goal that is achievable, but will still require focus to develop skills and motivation to accomplish your action plan and not fall short.
Step Four: Relevant Goal
The fourth step in SMART goal-setting is to ensure that your goal is relevant. To do this, ask yourself questions such as: How does this SMART goal relate to my business? What will these SMART goals do for me? How can these SMART goals help me achieve other SMART goals?
If your SMART goals are not relevant to your specific motivation or specific goal your are trying to achieve, you will not get the most benefit possible from you effort. If you do not find that your goal is creating value and growth in the area you wish to focus it may be time to course correct and pursue more relevant goals instead.
Step Five: Time-Bound Goal
The fifth step in SMART goal-setting is to ensure that your goal is time-bound. To do this, ask yourself questions such as: What is the deadline for SMART goals? When will I know if I have achieved SMART goal? What steps do I need to take in order to achieve SMART goals by a certain time?
When setting SMART goals limiting yourself to a certain timeframe or specific end date is key to helping you track progress and achieve success. When you set goals with a realistic time frame or target date (for example six months), you and your team will be creating more motivation to reach your objectives rather than waste time and other additional resources.
SMART Goal Examples:
Now that you understand what SMART goals are and how to create them, let’s put it all together.
An example of a bad goal is, “I want more sales”. This is a bad example because it is not specific, measurable, achievable, relevant or time-bound.
An example of a SMART goal would be: “I want to increase sales by 20% within the next six months through targeted marketing efforts“. This SMART goal is specific (targeted marketing efforts), measurable (increase in sales by 20%), achievable (attainable increase for the next six months), relevant (increase in sales through SMART goal framework) and time-bound (a time frame of within the next six months).
When SMART goals are created with intention, they will be set up for success. SMART goals help you stay on track and monitor your progress as you achieve and grow. The SMART framework helps to keep you strategic and focused on the bigger picture. SMART goals can be applied in any situation, whether at work or wetting personal goals at home, SMART goal setting is a useful tool that helps organize your thoughts and create focus.