Last month, we looked at the first part of destination mastery – how having a clear vision can really help to drive your business forward, and provide you with the direction you need to succeed.
This post follows on from that, and takes a look into how you can take the first steps towards achieving the business vision you’ve created, by setting SMART goals.
We’ll examine the concept and the thinking behind SMART goals, before explaining why they are so vital if your business is going to fulfil its true potential.
What are SMART goals?
SMART goals aren’t a new concept – they’ve been around for over 30 years, and have been used by successful business owners, athletes, politicians and entertainers ever since.
SMART is actually a mnemonic used to describe goals that are:
Clear and specific, setting out exactly what your business is trying to achieve, with no ambiguities.
Easily measured in terms of both the progress, and the end results – so you know exactly how well you’re progressing, and when you’ve achieved each goal.
Realistic and attainable, and backed up by a good idea of the steps you and your business needs to take to achieve it.
Results driven, demonstrating the importance of achieving the goal, and how the business benefits once it is achieved.
Grounded in a clear timeframe, with a deadline for when they should be achieved – whether that’s 90 days, a year, or even 10 years.
The importance of SMART Goals
If your vision is the final destination, think of your SMART goals as the signposts and milestones that will take you there.
SMART goals will help you to achieve your vision by:
Keeping you moving forward
If you and your business are ever going to fulfill your true potential, and achieve your final vision, you need to keep your business moving forward.
Setting and achieving SMART goals will help to ensure that you’re always taking positive, forward steps towards your final goal.
Helping you to focus on the bigger picture
It’s easy to get bogged down by the day-to-day activities involved in running a business.
Setting and working towards SMART goals will help to remind you of your priorities – giving you something to look forward to, pushing you towards taking action and enabling you to see the bigger picture.
Showing your progress
By setting and attaining SMART goals, you will gain a sense of achievement and fulfillment, whilst being able to see the progress your business is making.
This can help to motivate and inspire you, giving you the energy and motivation you need to continue driving your business forward.
Your employees want to know they’re part of a business that’s going somewhere, and SMART goals can help demonstrate to them that they’re an integral, important part of a business that is moving forward.
In turn, SMART goals can help you to create and develop a strong team, improving staff motivation, cohesion, performance and retention.
Practical tips for SMART goal setting
When you’re setting SMART goals, there are a few things you can do to ensure that they work for your business:
Set multiple goals
Don’t feel like you have to work on one goal at once – it’s best to set several different short, medium and long-term SMART goals, as long as they don’t stretch your resources too far, or interfere with each other.
Write them down
Whilst you might think you’ll be able to remember the goals you’ve set, it’s always best to write them down. If SMART goals are written down, and kept somewhere you’ll see them regularly, you won’t forget about them, and they can’t be changed.
Tell your employees
It might sound simple, but it’s vital that everyone who will be involved in working towards the goals knows about them, and knows what needs to be done to achieve them.
How Coach Pam can help
If you need support in any aspect of SMART goal setting or implementation, or any aspect of running a successful business, arrange your free, no obligation coaching session with Coach Pam today on 07540 888016.