The accessibility and abundance of resources and opportunity available in today’s world often forces entrepreneurs, professionals and business owners to believe they need it all and they need it now. That they need to spend a ton of money to implement a million different strategies because, surely, it must mean some kind of growth. This whole “throw it all at the wall and see what sticks” strategy is the number one reason why businesses fail simply because this strategy actually isn’t a strategy at all.
In a world full of such overwhelm, it’s hard to choose a direction let alone know how to meticulously choose multiple to ensure ongoing growth for your business. However, after all this time, one certainty remains that makes this decision-making process a little less hopeless:
goals are gold.
Goal setting allows you to develop specific strategies so that you can continually evolve and navigate your brand landscape.
- Do you work for or run a successful business and want to see the success last?
- Do you want to grow your business and find new ways to keep it thriving?
- Did you just launch a business and want to grow exposure?
- Are you considering launching a business but don’t know where to start?
If your answers to any of these questions are yes, then it’s time for some goal setting. Without goals, you cannot make tangible progress. You can’t define what success looks like for your business and you can’t ask for help. Goal setting allows you to implement realistic strategies that will lead to actual growth for your business, whether you work for yourself or someone else.
Successful goal setting isn’t complicated, it is worth your time. So, how do you do it properly?
Good goals are broken down into five segments…
Specific | Measurable | Attainable | Realistic | Timely
When you go about setting a goal, make sure it’s a S.M.A.R.T. goal and you can clearly define each of the following categories:
Specificity is a key requirement for goal setting, which is why it comes first. Nailing down the well-defined specifics will help you lay a foundation for the strategy you will build on top of it later. The specifics should answer the who, what, when, where and why components of your goal.
How will you know when you’ve achieved the goal or how far away completion is? Use quantifiable specifics and concrete criteria that will allow you to measure progress. This category will answer the “how” component of your goal. It will be your tangible evidence.
Is the goal within reach? Is it in your power to accomplish? Do you have control? If yes, your goal is attainable. If not, you need to dig a bit deeper. This may be the first of many goals you set in order to achieve overall success.
REALISTIC (AND RELEVANT)
Do you have the resources, knowledge and skills to make this happen? Do you have a team to help you? Do you need a team to help you? Is the goal worthwhile? Will it meet your needs? Will it produce results? Ask yourself these questions to determine the height of relevancy and if your goal is truly realistic or if it needs further fine-tuning.
Set a timeframe. This will help you manage your time and develops a sense of urgency for you to better complete the goal.
A bad example of a S.M.A.R.T. goal: I want to grow my business.
A good example of a S.M.A.R.T. goal: I will increase overall revenue by 15% for my business in six months by launching a social media campaign, implementing local event activation and ongoing digital advertising efforts.
See the difference? The more specific the better. Everyone has to start somewhere. If you’re looking to make real progress with your business and achieve ongoing success, make sure to always start S.M.A.R.T.