Goal Setting

Setting SMART Goals for Your Business

December 8, 2020

I say, “Goal!” You say, “Setting!”
Goal – SETTING! Goal – SETTING!

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Setting SMART goals for your business isn’t exactly what I’d call a “fun thing to do”… but if you want to set your business up for success, it’s a necessary piece of the overall “world domination” puzzle.

Hey, don’t blame the messenger.

 


 

So, what exactly is a SMART goal?

Glad you asked. Because I do love a good acronym. #acronymsarecool

 

Specific

SMART goals are well defined and easily explain what you’re working to accomplish. Bonus points for using action verbs.

By specifying your goal, it’s clear what you’re aiming to achieve. No wishy-washy, lofty goals — those don’t (and won’t) do you any favors.

 

Measurable

If you can’t measure it, how do you know if you’ve accomplished it?

Measuring your goals keeps you on track. You’re able to check in and adjust as needed to make improvements or change course.

 

Attainable

Bottom line — be realistic. Know what you’re capable of and by all means, you should stretch yourself. But set goals that can be reached.

 

Relevant

Random goals are pointless. They serve no purpose and are a waste of time.

Your goals should be relevant to your company and support a core initiative. If it’s random, it’s not worth pursuing.

 

Time-bound

Repeat after me. Deadlines are good.

If you don’t give yourself a deadline, you won’t know if you’ve accomplished your goal and be able to scale it later on.

 



The trick is to keep it simple.

DO NOT overthink it.

It isn’t the time to dream up the very bestest version of your business that’s so unattainable that you’re obviously setting yourself up for failure.

That’s not to say you don’t need to be serious about setting SMART goals. The whole point of the process is to make yourself accountable to what you want (and let’s be honest, probably need) to make your business more successful.

I recommend setting two to four SMART goals at any given time. Especially if you haven’t set these type of goals before. Feel it out, see how it goes. Then the next time you set SMART goals, you’ll be more comfortable and equipped to set the number of goals that work best for you and your business.

 


 

SMART Goal Template

Use my goal template to create your own. In minutes, you’ll have your SMART goals set and ready to roll.

 

Step 1: Write down your initial goal. Don’t overthink it; it’s not supposed to be perfect yet.

Step 2: Build your SMART goal piece by piece.

  • Specific: Define your goal by focusing on the five Ws — who, what, when, where and why?
  • Measurable: When will you reach your goal? What will indicate you’ve reached your goal?
  • Attainable: Considering all factors (time, resources, skills, finances, etc.), can this goal be accomplished?
  • Relevant: How does this goal support your business? Why does this goal matter?
  • Time-bound: When will you complete this goal?

 

Step 3: Take the five pieces above and write your SMART goal in paragraph form. Keep it posted somewhere that you’ll see it on a regular basis.

 

EXAMPLE:
Step 1: I want to start a profitable online business.

Step 2:

  • Specific: I want to create a Poshmark shop to sell thrifted clothing.
  • Measurable: I’ll have at least 20 articles of clothing posted to sell, and I’ll work to sell a minimum of 3 pieces a week.
  • Attainable: I’ll set up my shop, build inventory and promote my business through social media and networking with family and friends.
  • Relevant: An online thrift clothes shop lets me combine my personal interest with my desire to make a side income.
  • Time-bound: My shop will be online and running within two weeks.

 

Step 3: I will launch a Poshmark shop within two weeks. I’ll have at least 20 articles of clothing posted in my online shop to sell, and I’ll work to sell a minimum of 3 pieces a week. I’ll use my personal interest in thrifting with my desire to make a side income to set up my shop, build inventory and promote my business through social media and networking with family and friends.

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