Goal setting in business is the most important thing we do as entrepreneurs. As the CEO’s of our companies, we are the visionaries and our plans direct the course of the business. Whether you are a solo entrepreneur or you lead a team, your goals and plans should be clear and measurable so that they offer a clear direction for you and your team.
A tried and true way to set the right kind of goals is to make sure they are S.M.A.R.T. Let’s break down what that means.
Specific-What exactly do you want to achieve?
Measurable-How will you measure your progress?
Attainable-Can you actually reach this goal?
Relevant-Is this goal actually important to you? What is the objective behind this goal?
Timely-What is the deadline to reach this goal?
Examples of S.M.A.R.T Goals
When you are creating a SMART goal, start with your broad goal and then work through each element. Then, you can condense it all into a SMART statement.
Broad Goal: I Want to Grow My Business
- Specific: I will acquire three new clients for my consulting business.
- Measurable: I will measure my progress by how many new clients I bring on while maintaining my current client base.
- Attainable: I will ask current clients for referrals, launch a social media marketing campaign and network with local businesses.
- Relevant: Adding additional clients to my business will allow me to grow my business and increase my revenue.
- Time-Based: I will have three new clients within two months.
I will acquire three new clients for my consulting business within two months by asking for referrals, launching a social media marketing campaign, and networking with local businesses. This will allow me to grow my business and increase my revenue.
By following this goal-setting method, your goals are clearly defined, tasks are created and results are measurable. This allows you to to be clear with yourself and your team about tasks and expectations