Business Tips: How To Set A Successful Business Goal Using S.M.A.R.T Theory In 2018

How To Set A Successful Business Goal Using SMART Theory In 2018

What other time of the year is perfect to set your business goal than the beginning of the year? Setting goal is part of everyone’s routine either daily or weekly goal which can be personal or business related. However, a SMART goal setting gives you more structure and space to track your goal and objectives for a more efficient result.

This theory is the most used goal setting theory in the business world as it is one of the easiest and literally can be applied by anyone without a strong business knowledge. Also, SMART goal setting theory allows you to have a transparent operation system throughout your company and among your team. The better your team members understand the goal to be achieved and how to achieve it, the better they can perform. So, let’s get straight into it:

What does SMART  theory stand for? Specific, Measurable, Achievable, Relevant & Timely

• Specific: The question here is – What exactly do you want to achieve? Write down every detail and make it as descriptive as possible. For example, know the difference between: “I want to be a profitable business in 2018” and “I want to make a net profit of 3million by the end of 2018”. Be specific.
• Measurable: How do you measure your goal? You have to break it down and attach your milestones to physical evidence if possible. Carrying on with the previous example, if you wish to make 3 million net profit by end of 2018, you can break it down to how much you need to make weekly or monthly to finally get to the end of the year with 3 million.

• Achievable: Now, you need to be real with yourself. is your goal attainable? Consider if you have the right resources such as team, fund or time to achieve this goal? Don’t set an unachievable and unrealistic goal, it won’t get you anywhere.
• Relevant: Goal setting is great only if it’s relevant to your business or you. Why actually do you want to achieve this goal? What is the objective behind it? And what is the benefit of achieving this goal for your business? Again, be as descriptive as possible.
• Timely: Like they say, time is money. How long will it take you to achieve this goal? Make sure you set a deadline for every action and make it clear and precise to understand for everyone involve in your business. Having deadlines works like magic cos it kicks everyone straight into action.

Overall, while setting your goal, make sure you prioritise positivity. The more positive you are with your goal and team, the better and easier it is to achieve that goal.

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