You probably know what success feels like for your business, but how, specifically, are you going to get there? Goal setting is a universal practice for business leaders. However, goals that are too vague or abstract may not move you in the right direction.
That’s what makes SMART goals so valuable. SMART goals help you quantify your path to success and identify clear benchmarks for progress. Below, we’ll explore what makes SMART goals important and what you should and shouldn’t do as you develop yours. Continue reading to learn more.
What are SMART goals?
The “SMART” acronym stands for specific, measurable, attainable, relevant, and time-bound. Relevant SMART goals relate to your company’s overall business objectives and account for current trends in your industry. If you’re aware of these factors, you’re more likely to set goals that benefit your company and result in smart business solutions.
- Specific goals are clear and concise.
- Measurable goals are specific enough to gauge and manage your progress.
- Attainable and Realistic goals will be within your ability to achieve them.
- Finally, Time-bound goals have start and end dates.
Below, we break down the dos and don’ts of making a SMART goal for your business.
The Do’s & Don’ts
- DO start small. DON’T focus on too many things at once.
- DO write it down. DON’T forget to give yourself a deadline.
- DO be specific. DON’T deal in absolutes.
- DO leave room for failure. DON’T expect perfection.
- DO track your progress. DON’T fool yourself into failure.
- DO reward your success. DON’T beat yourself up over failure.
- DO find a support system. DON’T try to do it alone.
- DO commit. DON’T ever forget you can do it.
Why Are SMART Goals Important?
SMART goals are important because they help you work with clear intentions, not broad or fluid goals, and provide a method to gauge your success by setting benchmarks and establishing sensible objectives. Cut out unnecessary work that could take away from what’s important and set a clear beginning and end to adhere to.
Remember, you can do everything right when setting your goals and still not meet them. That’s why it is imperative to not just write your goals out but to re-visit them frequently. As an individual, you should always be checking in with your KPIs and deadlines to see if you are on track or need to make adjustments.
How to Make a SMART Goal
Setting SMART goals can ensure that your goals are clear and reachable. By knowing precisely what you need to complete each step toward your goal, you’ll increase your chances of staying on task and realistically attaining the desired result.
- Develop a plan.
- Include measurable goals.
- Aim for realistically attainable goals.
- Pick goals that are relevant to your business.
- Make goals time-bound by including a timeframe and deadline information.
Make Your SMART Goals SMARTer
Now that you know what a SMART goal is, why it’s important, and how to create one, it’s time to put them into practice! Whether you’re setting goals for personal achievement or as part of important business milestones, it’s good to start with what you want to achieve and then reverse-engineer that into a concrete SMART goal.
As we say at Bartercard, living without setting goals is like sailing without charting a course. That is why you need to set smart goals to develop and achieve your dreams. So, now that you have set out your goals, write them down, and place them in a very visible place so everyone knows what you want to achieve.
And while you’re at it, become a Bartercard member today to free up inventory space and increase profits as you work toward your new definition of success!