What's So Smart About Setting SMART Goals?
So you’ve read our “How To Set Better Business Goals in 2022” blog and are now feeling totally pumped about setting your business goals for the upcoming year but you’ve hit a slight stumbling block… How do I actually outline my goals? As always we’ve got you covered.
Meet Sophie - she owns a nail business in London. She has three full time employees and a steady, loyal clientele. In spite of the ever changing state of (COVID) affairs these days, Sophie is ready to ramp up her business in 2022. In the past she’s set goals but found that because of a lack of clarity and direction, they’ve quickly fallen by the wayside. This year is different because Sophie’s using SMART goals to provide her with better structure and support to set out more clearly what she wants to achieve. What are SMART goals I hear you ask?! They’re a specific set of criteria that help to ensure objectives are attainable within a specific timeframe. SMART is a smart acronym for: specific, measurable, attainable, relevant and time based.
Specific: When you’re setting goals, they need to be specific. Be precise and detailed. Saying “I want to get more clients” is way too general. Instead, hone in on specific aspects of your business you’re going to focus on, for example, Sophie’s goal was to grow her client base by 10% in January by promoting bundles and incentivizing existing customers”.
Measurable: Tracking and measuring the progress of your goals over a specific period of time is essential to success. Incorporating assessable benchmarks along the way gives you and your team the opportunity to re-evaluate and reassess goals if necessary. Measuring your progress against your goals makes reaching the finish line even sweeter (and easier!).
Attainable: Reach for the stars! Setting goals that stretch and challenge you beyond your comfort zones is awesome however make sure you set attainable steps to make the goal achievable. Instead of saying you want to open 100 branches this year before you’ve opened a second is a big, BIG goal. Rather focus on opening the second branch and once it’s up and running, move onwards and upwards. Set realistic goals based on your current situation.
Relevant: When you’re setting goals, always ask yourself, is this serving the big business picture? Does this goal make sense? Does it align with the company’s agenda and objectives? If it’s yes, yes, yes then then it’s a worthwhile goal and if not, then revisit it another time. It needs to be relevant for right now!
Time-based: It’s all very well setting goals, but if it lacks a specific time frame, chances are you’re not going to succeed. If you want to make things happen, realistic target dates are vital. These parameters encourage everyone involved to stay on track within the designated time frame. Keep in mind, especially in today’s current climate, that things can change so you may need to have some leeway. To make sure the goal is moving forward, it’s a good idea to have frequent check-ins to measure progress. If you set a nine month goal, determine what should have been achieved in month three and month six. Creating a time frame keeps you on your toes and creates a sense of urgency.
Be SMART like Sophie and smash your 2022 business goals. Use our SMART goals planning resource to kickstart your business’s best year yet.