Martin Business Consulting
By Robin Martin
Would you design a building without blueprints?
Could you build a house without plans?
Would you go tramping without a map and compass?
Most people wouldn’t conceive of starting a project or journey without direction and guidance… Why is a business goal any different?
An integral part of a successful business is a Business Plan.
An integral part of a successful Business Plan is the setting of goals.
An integral part of setting Goals is the use of the “SMART” Goals process.
Do you want a successful business? → Having a SMART Goals plan:
Clearly encapsulates what you want to achieve,
Lays out the critical details in a simple and easy to understand way.
Imparts the ability to capture and measure progress.
Creates clarity and increases accountability.
What is the SMART Goals process? →
It’s a streamlined process that uses 5 criteria that ensures that your goals are specific, measurable, achievable, relevant and timebound:
Make your goal specific. The more specific it is, the easier it will be to identify if you’ve achieved it. Drill down to outcomes and use action words.
How will you measure progress to target or completion? Utilising specific dates, times or numbers will work better than using a vague indicator.
Make sure the goals are within your scope. Setting achievable goals is critical to creating momentum. Review each goal seriously and assess it’s possibility.
The delivered goal must be relevant to the required business outcome, achievement or job function. It must improve the business in some way
Lock your goal delivery into a timeframe. State the required date for goal completion. Be specific so that progress can be mapped towards completion.
Each letter in the SMART acronym highlights a different and critical aspect of the outcome you seek to achieve.
- Capturing them in writing will help to achieve them. Create a document and update it regularly with progress.
- Using a formula means you do not forget any critical data.
- This process will improve clarity and create accountability between team members.
P.S. This article is part of my Secrets of Success series, aimed at helping business owners and entrepreneurs with some of the key components of business success. The insights I wish I’d had at the start of my business career. I hope that by passing on these little gems of knowledge I can give you some support and help you along the pathway to growth and prosperity.