SMART Goals for Your Business

You know goals matter in both your personal life and business. Here’s how to get SMART when it comes to setting them

Another common struggle is differentiating between goals and objectives. These two words are commonly used interchangeably when they actually have very different meanings. Simply put, objectives are the small and specific steps that are completed in order to accomplish your goals. For example, if your goal is to gain 5 new Instagram followers every week, an objective could be “reach out  and like/comment on 20 new Instagram accounts each week.” The difference is that the objective is a step in the process while the goal is an end result.

After you differentiate between goals and objectives, it’s beneficial to make sure your goals are effective and efficient early on. One way of doing this is by following the SMART Goal model. George T. Doran first presented the term SMART in a 1981 issue of Management Review, and the term is still frequently used to this day.

The first step iso think of something that you would like to achieve with your business. Once you have an idea in mind, go through each of the steps below to ensure that you have the best possible version of your goal.

S: Specific
M: Measurable
A: Attainable
R: Relevant
T: Time-bound

Specific.

You want your goals to be specific enough that they can easily be identified. This is important because you want the goals to be recognizable to anyone else working on the project.

Measurable.

If your goals are measurable, you will be able to identify the moment that you reach them. If they are not measurable, you may be exhausting too much energy on a part of your project that you have already successfully achieved. On the other hand you could be putting in only half of the effort that you need without realizing you’re nowhere near your desired outcome.

Attainable.

This is possibly one of the most difficult parts of clearly defining goals because you have to be aware of your own limits. You also have to be realistic about how quickly you can set out to achieve your goal. It’s important to push your boundaries and challenge yourself, but you also have to realize that taking things a step at a time may also be the best way to proceed.

Realistic.

Your goals need to be within the realistic availability of the company’s resources, time, and knowledge.

Time-bound.

 If you have a goal in mind, you need to find a time limit for yo urself. Otherwise you have the option to keep putting it off (which, let’s be honest, we all do) and it continues to become a vague goal that will get done “whenever.”

Goals are pivotal to a business’s overall success. They have the ability to change the direction of a company for better or for worse, depending on how they are executed. If goals are set correctly and realistically, businesses gain a feeling of accomplishment and pride. However if the goals are far too outlandish or far-fetched, they could have a detrimental effect on the confidence of the employees.

Take the time (each week, month, etc.) to go step by step and organize, define, and integrate your goals into your business. It will have a profound impact on your success!

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