Achieving a list of goals for your business is easy when it's done well. But when it's not, the end result will be frustration. And creating the same list again next year is not exactly the best plan of action. What can you do instead?
For your business goals, the SMART method will give you the best results. This is because each goal meets criteria for being Specific, Measurable, Attainable, Relevant, and Time-based. At any given time you can see where you are in terms of achieving your goal because of how crystal clear you write them.
How It Works
Let's say you have a goal to start a small home-based business. Here's what you might write out under each of the five categories:
- Specific: I will start a small woodworking business in my home. I will be earning an extra $500 a week within six months.
- Measurable: I will create ten pieces to have in my inventory within the next two weeks. Within the next four weeks, I will set up my business by obtaining business insurance and creating business cards. I will start a Facebook page to promote my work and make an Etsy account for sales.
- Attainable: I will make three pieces a week in the evenings and on weekends. This is the output that I can afford without over-stressing myself or my finances.
- Relevant: I will use my favorite hobby on a daily basis to gain extra income for my family.
- Time-based: I will sell at least five items a week within the next six months.
By creating a SMART goal you see that starting a business is possible. You've thought of what you have to do, and given a general deadline to the tasks. You know how many items you need to be selling each week to get to your desired income level.
With goals that are actionable and not overly ambitious, you will gain confidence and momentum. Don't try to sell thirty pieces per week, at first. Instead, start small.
Once you write out these goals, review them daily and use it as your checklist to help you stay focused on the end goal. You can use them to write out your daily to-do list. Even if you don't end up meeting every single metric, such as if you only consistently sell four items a week, you're well-ahead of where you would be had you left your goal as: start a home-based business. After the six month period is up, review your success and write your next goal.
You can use this SMART method for all your goals to achieve the best results possible.
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