GOAL SETTING – S.M.A.R.T.
Jan 15, 2020
There are many tools and programs for setting goals. At EBS we use the S.M.A.R.T. Model when assisting clients or setting our own goals.
The SMART Model is:
S = SPECIFIC
- Keep the goals simple and focused, not wordy and vague
- Be specific with what is to be achieved – the more specific the better
M = MEASURABLE
- Make sure the achievement of this goal is measurable. Ask yourself ‘How will you know you’ve achieved this goal?’ ‘What will be different once this is accomplished?’
A = ATTRACTIVE
- The goal must be appealing to you – not just for the short term, but the long term also
R = REALISTIC
- The goal needs to be achievable – e.g. Becoming a tennis champion in two years, having never played and being in your forties would not be attainable
T = TIMED
- Stated as if it’s done
- Know when it will be achieved
Following is an example of how to set your business goals for the next 12 months.
It is Christmas 2019 and you are sitting at home with family and friends, toasting your success as a business owner with great clients who appreciate your products and services, and happily pay you on time. You love what you do.
1 Year Goals for your business
Come up with five goals for where you would like your business to be in 12 months time. These can relate to profit, sales, staff, systems, size, new products, marketing, social media or training. Use the Smart Goal template for each goal.
1 Year Goals
- Profit – It is Christmas 2020 and we have made $120,000 net profit for the calendar year
- Sales – It is Christmas 2020 and our sales for the calendar year have been $1,000,000
- Marketing – It is Christmas 2020 and we launched a new website with online ordering, generating an extra $30,000 in sales
- Training – It is November 2020 and all staff have been trained in Widget B operation
- Staff – It is July 2020 and all staff have had their second three monthly review
- Systems – It is October 2020 and the operations manual for the company has been implemented
- New Products –It is May 2020 and we have successfully introduced Widget A to the market improving our sales by $50,000
Now look at each of these goals, then create goals to be achieved in 90 days that will help you achieve your yearly goals. For example, if you have a 12-month goal to implement a new website by Christmas 2020, what goal would you need to have in place in 90 days to make sure that this is going to happen?
90 Day Goals
- Profit – It is March 2020 and we have made 30,000 nett profit for the first quarter
- Sales – It is March 2020 and our sales for the first quarter are $250,000
- Marketing – It is March 2020 and we have completed the template for the new website
- Training – It is March 2020 and John has created the training program for the operation of Widget B
- Staff – It is February 2020 and the staff quarterly review forms have been created and distributed to all managers for implementation
- Systems – It is January 2020 and all staff have been advised to create one procedure for the operations manuals
- Product – It is February 2020 and Widget B has been taken to market for evaluation and found to be acceptable and competitive
Now look at each of these goals and create goals/tasks that can be achieved in the next week to help you achieve your yearly goals. For example, if you have a 12-month goal to implement a new website by Christmas 2020, what goal would you need to have in place in one week to help this goal be achieved?
- Profit – It is January 15, 2020, and Julie has reviewed the telephone plan and saved $150 per year with a new deal
- Sales – It is January 12, 2020, and we have won John from ABC account which is worth $25,000 per annum
- Marketing – It is January 14, 2020, and we have contacted Tony at Great Web Designs to quote on a new website
- Training – It January 10, 2020, and Paul has been tasked with the job of creating a training program for Widget B
- Staff – It is January 16, 2020, and all staff have been advised that we will be conducting 3 monthly staff reviews in March
- Systems – It is January 16, 2020, and all staff have been advised to create one procedure for the operations manuals
- Product – It is January 16, 2020, and Widget B has been created and cost ready for market evaluation
Now it is your turn. Using the same ideology as the example, set your business and / or personal goals for the next 12 months. Remember, there are no right or wrongs, only what you want to achieve, and there are no boundaries, only those you decide to set. Happy goal setting!
DOWNLOAD THE GOAL SETTING FORM