This is a new year and a lot of people and businesses have made New Year resolutions and listed down some of the things they will like to achieve by the end of the year.
Goal setting is a powerful process for thinking about the future you desire and for motivating yourself to turn your vision of this desired future into reality. The process of setting goals helps in achieving what you want to achieve in life.
Business and personal development success depends on one’s ability to set and achieve goals and thus it is imperative for everyone to set SMART goals.
S.M.A.R.T. is an abbreviation/acronym for the 5 steps of Specific, Measurable, Attainable, Relevant, and Time-based goals. It’s a simple but yet effective tool used by successful businesses and entrepreneurs in setting an actionable plan for successful achievements.
Each aspect of SMART goals is further explained below:
What exactly do you want to achieve? The more specific your goals, the clearer and well-defined it is. It is better to set a specific goal like “I want to lose 5 pounds per week” than to just say “I want to lose weight”. Questions you may ask when setting specific goals are: What exactly do I want to achieve? Where? How? When and with whom?
If you can’t track the progress of a goal with concrete evidence or physical manifestations, then the goal is probably not properly defined. Goals should be broken down into measurable elements that you can see, hear and feel when you reach your goal.
It’s good to be ambitious but being unrealistic is not good for goal setting. If you don’t have the time, money or talent to reach a certain goal you’ll certainly fail and be miserable. That doesn’t mean that you can’t plan to achieve something that seems impossible and make it happen by planning smartly.
Achievable business goals are based on the current conditions and realities of the business climate. You may desire to make your highest profit in business this year or increase your revenue by 75%, but if a recession is looming and 5 new competitors opened in your market, then your goals aren’t relevant to the realities of the market.
Everybody knows that deadlines are what makes most people switch to action. Give yourself a reasonable time frame for achieving your goal. Then break it down into smaller, short-term increments. Divide your goal percent increase into monthly or quarterly increments that allows you to build on your momentum. This produces measurable, attainable and short-term goals to pursue.
It’s very easy for anyone to make resolutions, but at most times; it’s difficult to achieve the resolutions made without making SMART goals. No wonder some people make the same resolutions every year, without ever achieving them. Don’t let yourself or your business fall into that group. This year, resolve to set SMART goals and action plans for your personal development and business.
We will love to help you achieve your business goals on branding this year. Kindly contact us for a consultation.