Start with SMART
Evaluating your business goals, strategies, and budget regularly is key to a healthy business. However, this can seem like a towering task. We have broken down the process into several pieces to help you approach this with a fresh mindset. Also, don’t box yourself into only setting goals in January. January may not work for you, so that’s why we are talking about it in February. Good goals can happen anytime, not just at the beginning of the year.
Achieving your Goals
While some try to make setting goals simple and straightforward, a simple and straightforward goal is not easy and takes time, energy, and effort. Even the seemingly simple task of establishing goals can remain challenging. Taking it back to the basics of goal setting helps to lay out a good foundation and remind you of what you want to accomplish. That’s where SMART goals come in. We want you to work SMARTer, not harder. SMART goals are:
S - Specific
M - Measurable
A - Achievable
R - Relevant
T - Time Bound
Let’s unpack them:
Specific: For goals to make an impact, they need to be specific. Goals that are too broad or too general are ineffective. Specific goals can help answer questions like: ‘What needs to be accomplished?’ ‘Who can get this done?’
Measurable: Once your goals are made specific, being able to track them helps you to know when they can be checked off. Numbers and charts and ways to measure your successes and track your benchmarks.
Achievable: This could also be titled 'realistic.' There is no harm in being a go-getter, but failing to reach lofty goals can result in disappointment or, more drastically, failure in the long run. When setting a goal, ask yourself, “Can we really accomplish this?” Knowing your limits is a large part of success in the big picture of your business.
Relevant: This ties in with setting specific goals, but before you write one down, ask yourself: ‘Why am I setting this goal?’ Is this applicable and related to your long-term goals?
Time Bound: For any goal, it must have an end date, and a deadline. When will you start? When will you finish? What is your timeline? Goals should always have time-related limits.
What’s Next?
Once you have worked through your goals, it’s important to make sure they are tailored to your business. Consider your data, and review your numbers. Progress reports are not to be filled out and filed away - evaluate your development. Use this information to your advantage. It is difficult to see where you have been and to know where you are going without some milestones. The more specific, the better.
Taking all this into consideration, it is also important to remember that adjustments can be made along the way. Goals can be changed, moved, and scratched altogether. The point here is to be situationally aware of your business and have direction.
Does your business need a jump start in this area? Oak + Willow would love to chat with you. Let’s work together to establish some strategic solutions for your growing business.
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