There are many types of goals you can choose, which usually follow a similar formula. These techniques do not relate only to business, it can be used in your personal life too – albeit for health, wealth, spirituality or general well-being – setting goals can be a good way to direct you and move forward.
Many times, I hear people use goals generically, like “The business goal is to grow” or “My goal is to get fit”.
This is when I usually ask the questions of ‘How will it be achieved? When do you know you have achieved it? What is your timeframe?’ and then I am met with a blank look.
Maybe I work full time and am selling homemade honey at markets on the weekend. My goal might be:
“My goal is to make $20,000 profit in one year”.
So, let’s take a closer look at this goal through the SMART process: What is SMART? Well it stands for:
S = Specific → M = Measureable → A = Achievable → R = Realistic → T = Timely
Each goal must be SMART.
SPECIFIC: The goal is a clear statement that gets straight to the point. The specifics, in this case, is to make a profit of $20,000 in one year.
MEASURABLE: This should have a number attached to it. In this case – the measurable item is ‘$20,000’. Just remember ~ this is what I plan to reach, but if I surpass $20,000, then by no means do I stop. I then set a new obtainable goal to keep pushing me forward. If I don’t reach $20,000? Then click here to understand and combat ways on how to reach your goal.
ACHIEVABLE: This is where reality kicks in. There is no point saying you are going to make a $20,000 profit if you only plan to attend one market a year. Unless it’s damned good honey… it is highly unlikely you will achieve this. Think about your time allocation, expenses, lifestyle and ensure your goal is within your limits and achievable.
“There is nothing as disheartening as setting an unachievable goal”
REALISTIC: There are great spin doctors who state you can have it all. And, of course you can! But be prepared to sacrifice to achieve it. For example, if your goal is to make $100,000 profit selling honey in one year through markets – who am I to stop you. But be prepared to sacrifice something – whether it is family, friends or your own relaxation time. Be prepared for late nights and lack of sleep. Obtaining your goal can be done – but the goal needs to be realistic.
TIMELY: This is my favorite and one many businesses neglect. You want to make $20,000 profit. By when? Next year? Next week? Knowing your timeframe allows an end to your goal – to give you a chance to assess what you have achieved. The timeframe should be REALISTIC – if you don’t want to disappoint yourself.
Goals do not strictly need to be SMART – although I highly recommend it. This will give you direction, purpose and therefore will bring you closer to success.
Now that you have goals – it is now time to have objectives in place, in order to achieve your goals. Click here for more information on objectives.
If you would like us to help you create and stay focused on your goals, call us on 0418 309 753 or email now. We have great plans in place to help your business achieve its full potential.
Let’s achieve these goals!!!