Leaders across industries have used the SMART way of establishing business goals for many years. SMART is an acronym for Specific, Measurable, Achievable, Relevant, and Time-based. Using the SMART strategy is highly beneficial because it can serve as a roadmap for how you will achieve your desired outcomes. Here’s what the SMART way entails.
When you’re running a business, details matter, you must be specific about what you want to accomplish and how you plan to get there. This includes the steps that will be taken to reach your destination. Instead of generalizations about what you want to achieve, detail what you will do each day to make it happen. For instance, instead of saying you want to “increase sales,” you can establish a plan to call five prospects daily to increase sales. This is far more specific.
Setting goals that are measurable can make the difference between success and failure. In the previous example given about increasing sales by calling five prospects daily, you know if the goal has been achieved based on whether or not you have actually called five people each day.
Achieving or attaining a goal is the purpose of setting them. You certainly don’t want to set goals that are impossible to achieve. In addition to it being a waste of time, it can have a negative psychological impact. While it’s fine to have lofty goals, they must be realistic. To determine if something can be achieved, you should clarify the steps that will be taken to get there.
When a goal is relevant, it matters and will make a difference in the long run. To determine the relevance of a goal, you should clarify why you need to achieve it. For instance, why do you need to call five people each day? Another example is hiring a new employee. You should spell out why you need to hire someone and how they will benefit the business.
Every goal should have a completion date. It’s easy to set a goal, but if you don’t provide a timeline, it can go on forever without any results.
Setting business goals the SMART way makes sense. You’ll appreciate these guidelines as you progress in the achievement of your business goals. Remember to celebrate each time you reach a milestone. This can boost your momentum and get you excited about reaching more goals.