To have a successful business, you need to be setting goals and working towards them all of the time. If you don’t have goals, how will you track your progress? It takes a team to make and achieve goals so that it shouldn’t have to fall on one person. If you’re looking to have assistance with making a business transition plan, contact Cooper Norman so they can help you with your financial planning needs.
What is a SMART goal?
It is a strategy that takes goal setting to the next level. Setting a SMART goal allows you to more fully accomplish your goals by your deadlines. The term SMART is an acronym that goes as follows:
Making your goal specific allows you to hone in to what kind of goal you’re looking to create. One thing you can ask yourself is–what exactly are you going to do? An example of this could be running everyday to train for a marathon.
Being able to measure your goal allows you to keep yourself accountable and to track the progress of your goal. You can ask yourself–how will I know if I am succeeding? Choose a method of tracking your progress such as on your phone or on paper. There are many different ways so you can get creative with it. Once you’ve chosen your tracking method, you can track your running progress using your preferred method.
Having your goal be achievable is important because it helps you to gauge if you will be able to accomplish your goal. Your goal shouldn’t be too easy or too hard. How will you implement this goal in your life? In reference to the example goal we’ve been talking about, say you’ve done running in the past and you are relatively in shape. Running a marathon in 6 months could be doable. If this isn’t true, then it would be wise to adjust your goal to make it more achievable.
It is important to decide what your overall objective is. Think about what you want to achieve in your life and why. How will this goal benefit your life? Will it help me reach my overall objective? Will this help me work towards my long-term goals? Perhaps your overall objective is having a healthy and active lifestyle.
It is crucial that you set an amount of time that you’d like to achieve your goal by. You could sign up for a marathon that is 6 months away so you have time to prepare, but not too much time to put off your training.
Why do we need SMART goals?
SMART goals are beneficial for your business to succeed and consistently grow. This type of goal setting can help you focus on your goal so it’s specific and realistic to your main goal. You will also be able to see the big picture for your company and create a goal that isn’t too easy or difficult. This will help you to push yourself and the company to reach the goal. You will be able to achieve positive results by accomplishing SMART goals for your company.