How to Create S.M.A.R.T. Goals for Your Business
Get out your business plan and lets get to work! Don’t have a business plan? It’s time to make one!
Some advisory sources might tell you to create a full report on your potential business, but you can also create an effective short version. A business plan includes your mission, vision, simple goals and objectives, mentors, finances, and marketing and advertising information, and any potential competition (providers or programs that compete with your company). Your business plan helps you set the stage for the road ahead.
Set SMART goals for your business. SMART stands for:
Specific: Describe exactly what you want to achieve with the who, what, where, and when answered.
Example: I want to increase client referrals by +2 each month.
Measurable: Make your business goal measurable so you can have hard evidence when assessing how you did.
Example: By the end of 2017 I want to have seen 8 clients in my private practice.
Attainable: Make this goal realistic! AKA something that you know you are capable of planning and executing.
Example: I will reassess GOAL in August to see how I’m doing.
Relevant: Your goal should answer the question of WHY. Why do you want to do what you want to do?
Example: I want to grow my client referrals so I can make more money in business.
Timely: A goal should be set with a start date and end date in mind.
Example: This goal starts TODAY and ends December 2017.