SMART goal-setting can help you achieve business success.
SMART goal-setting is not my idea. I learned about it over two decades ago in a training seminar. Since then, I’ve changed a few words to make it my own, but the concept is the same.
Here it is in a nutshell:
SPECIFIC - “Earn more” is not a goal. It’s an ideal. A goal needs to drill down a bit more. Something like “add new customers” and/or “grow collections” is a better defined goal.
MEASURABLE - Numbers help you keep score. Think “add one new customer a week,” “lose 20 lbs,” or “walk 10,000 steps a day.” Those are all goals you can check your progress against.
ACTIONABLE - What can you DO to reach your goal? Adding a new customer a week is a great goal. But you won’t add customers just by thinking about it. You need to call on new shops or approach more non-customers.
REALISTIC - Being grounded is important. World peace is a noble goal. But it’s not likely to happen anytime soon. Nor are you likely to double your income next year. Get real.
TIME-PEGGED – Goals without deadlines are just dreams. Say you want to earn $12,000 more in 2017. Seem overwhelming? It is. Break it down: think $1,000/month or $250/week.
The key to making SMART goals work is not just setting them. It’s putting them in writing, working on them regularly and periodically checking your headway. Seeing progress (or lack of it) is a true motivator.
