Setting specific goals provides clarity on what you want to achieve. This means that there is no room for misunderstanding on whether or not you achieved your goals. The more specific you are in your goals, the easier it will be to determine whether you are moving further away from or closer to your goals. The idea is to share the specific goal so you, and others, have a clear understanding and could easily assess process and achievement.
Setting specific goals help you determine precisely where you are going, and can help you determine how to get there. These goals can be for the next day, the next week, the next month, and/or the next year. The more specific you are with the details such as timelines, metrics, and what you expect the project to look like upon completion, the easier it will be to develop an action plan. If things are left vague and up to interpretation, it will be difficult to thoroughly assess any situation. Setting specific goals at the beginning of any project instead of during is far more beneficial.
I’d like to expand on Specific Measurable Attainable Rewarding and Time-Based (S.M.A.R.T.) goals with an example. By being specific, and allowing for measurable results, you can assess how far or close you are to your goal. Entrepreneurs have many different things they can focus on in any given day. You can work all day long and leave work and not feel like you accomplished anything. What was your specific goal for that day (i.e. to get through everything that came through your email, have three meetings, set two new business appointments, etc.)
You can set a specific goal using the S.M.A.R.T. acronym:
- Relevant (or Rewarding)
You decide you want to grow monthly revenue from $50,000 to $75,000 (Specific) in six months (Time-Based). Your goal is to assess how to achieve an additional $25,000 in billing (you can Measure whether you increased $25,000 in billing). You realize that the goal is Attainable based on your monthly efforts (you know based on your current closing ratio, by adding five more daily cold calls, five more weekly follow ups, two more new business appointments, two weekly presentations and one additional close a month, you will close the gap month-by-month over the next six months). You consider how Rewarding it will be to you and your family to go on that family vacation you have been planning.
Set a specific goal by using the S.M.A.R.T acronym.
- Is it Specific?
- Is it Measurable?
- Is it Attainable?
- Is it Relevant (or Rewarding)?
- Is it Time-based?
These questions will help you clearly define a goal and then you can have fun seeing how close or far you are to the goal. Instead of saying “I want to grow my business,” use a more specific goal such as “I want to grow my business by one client a month that averages $2,500 by the end of June.”
If you are still having trouble setting goals or would like to have some help, I invite you to visit my YouTube Channel for videos that can help inspire you.
I encourage you to enjoy life daily.
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