SMART goals introduction
I decided to write about SMART goals as they’re part of our process and to be honest – they’re often taken by people, well, let’s say “lightly” 🙂 and without attention that they really deserve.
If I could only tell you how many times when we’re asking for goals the answer no 1 is… “increase sales”! In fact I’ve lost my count.
And guess what? That is everyone’s goal! Every business in the world is there to generate income. But what I like to believe in – as a business owners we’re not in business only for that. And that’s our “why” when it comes to SMART goals. Have I got you interested enough? Let’s dive in to the matter.
SMART, as a lot of codenames, cryptonymes nowadays, except for sending a clear message about purpose of it’s contents it also refers to other keywords that are hidden within it. It simply breaks up to:
- S – SPECIFIC
- M – MEASURABLE
- A – ACHIEVABLE
- R – RELEVANT
- T – TIME BASED
Your goals have to be specific. In other words they have to state WHAT is need to be achieved and by whom, where and when.
Non-SMART goal: Advertise my business in Cumbria.
SMART goal: Advertise my business by setting up networking group on event planning in Carlisle with a monthly attendance goal of 20 people, with 2 per month signed up for my “How to plan your event without stress workshop”.
Your goals have to be measurable. Why? Because you need to be able to tell if you’re heading in the right direction, meaning towards achieving them of course! 🙂 Questions you should ask yourself here are how much, how often, how many? That part, as described in our other article 4 tips on how to organize the learning process can and should include milestones (mini goals) set on the way to the obtaining final goal. Milestones are helping to get you to the destination set in the beginning without adding extra stress to process and are easier to attain. What get measured get done. Therefore if you measure you will focus to achieve the goal. Example?
Non-SMART goal: Advertise my business in Cumbria for £36000 pounds over course of 3 years
SMART goal: Advertise my business in Cumbria for £1000/month ( £250/week ) for 1 year.
Your goals have to be achievable because if you’re setting yourself a bar too high you’re doomed to fail right from the start. Goals need to be “seen on horizon”, especially for the teams working together. If goal is too distant it becomes an abstraction and won’t be treated seriously enough by anyone who suppose to reach it. That doesn’t mean that they can’t be challenging! Quite opposite in fact. Challenge is good, as long as you and your team know that your goals can be achieved.
Non-SMART goal: Increase overall sales by 15000% in a day 🙂
SMART goal: Increase sales of Product X by 15% in 3 months time.
Your goals have to be relevant. They must have a meaning. Meaning has to be important for the whole business. Not just for a part of it.
Goal itself might be of high importance for a part of your business (i.e. HR team) but at same time at larger scale it becomes only a detail in a way more complex master plan of your business. Goals have to be linked with each other and have ultimate result (Goal of Goals? :D) as a target.
Non-SMART goal: Renovate all shops in whole retail chain in the UK
SMART goal: Renovate all shops in whole retail chain in the UK in order to attract more customers, improve feedback from them, increase reputation and gain more sales.
5. Time Based
Finally, your goals have to be time based. They have to be time bound. Pretty self-explanatory isn’t it? Let’s jump to examples.
Non-SMART goal: Increase our E-Commerce base of leads
SMART goal: Increase our E-Commerce base of leads that will register on the site by signing up for newsletter by 27% by the end of the year.
Yes, that’s it. I know it’s simple but hey! Every now and again we all need that kind of “refreshers” 😉
If you want to set some strategy for your business but you don’t know where to start we’ve got a Online Strategy Workshops that might be a perfect solution for you.