Business Goals: A Formula For Success
A critical part of business strategy is planning goals for your business. When we write down our goals, we have more confidence, are more motivated to reach results, and have more success in meeting our goals. But sometimes the biggest hurdle is simply getting started. Breaking large goals into smaller milestones helps us get closer to our big goal one step at a time, building confidence and momentum along the way.
What are SMART Goals?
SMART goals help us clarify our goal so that it is actionable and achievable. What is a SMART goal? It is a goal that is:
- S: Specific. It is well-defined and focused. Once we focus on a goal, it becomes a magnet, and all your energy is focused on this goal.
- M: Measurable. Put concrete numbers on your goal. It is a way to see if you are on track so that you can adjust your course if needed.
- A: Attainable. Dreaming big is good. But your goals must be attainable for you to make progress. Do you believe that you can realistically reach your goal?
- R: Relevant. Choose a goal that is relevant to your business and its success. Don't choose a goal because someone else thinks you should do it. Choose one because YOU want to do it.
- T: Timely. Write down a specific date to reach your goal. Having a deadline helps you set a pace to reach your goal to stay on track and keep you accountable.
March Madness: Bracketing Your Business Goals
We have created a fun analogy to help you get started planning your first SMART business goal. Every year in March, fans eagerly choose teams and follow basketball games in the hopes that their favorite will win the NCAA Championship. We're going to bracket a few goal ideas. Set your business up for success by picking a few different ways to build your business. Then narrow it down to ONE goal, and follow through to meet your goal (of course, they will ALL be winners!)
Here's Your Directions:
- Pick your top 4 bracket ideas to build your business. (Ideas: Advertise in local media, make business website updates, blog twice a week, create and maintain social media through a business Facebook page, make 10 phone calls a week to new prospects, etc. ... you get the idea.)
- Narrow down your bracket options according to what is most important to you and your business.
- Choose your winning goal ... then set a date of when it will be accomplished (Next week? Next month?)
- Meet your goal and celebrate your victory!
Set More Goals
Congratulations! Now that you have the hang of this, set a bigger goal. Use the same idea to create a bunch of small goals to reach your big goal. Look at your goals daily. Evaluate your progress. Adjust your path if needed, because goals change over time. The important thing is to stay focused on your goals. Enjoy your victories!