As we enter the new year, it is necessary to define the business goals you want to achieve in 2022.
However, setting a goal improperly can be a big mistake that may end up costing you in the long run. Why? Because if you do not achieve it, you may think the business is not moving forward, or you are wasting your time, which may lead you to consider closing the business.
The solution is simple: Think about what you want to achieve now. Do I want to open a new office, hire staff, or boost sales? Every project starts with certain questions: What do I want, how do I want to execute it, when do I want to achieve it, and how long will it take?
Answering these questions will be the key to achieving your goals. For example, one thing is to say “I want to change my job,” while another is setting a specific timeframe to achieve it.
To answer these questions and establish a proper plan, your best resource would be to use SMART goals.
These appeared for the first time in 1981. Its name is an acronym that refers to each of the following criteria.
- Specific: What exactly do you want to achieve?
- Measurable: How will you measure the progress of what you want to achieve?
- Achievable: How will you attain it?
- Realistic: Why is it of interest to your company or your customers?
- Timely: When does it have to be achieved?
Having clear business goals will allow you to:
- Enhance your business vision: You will have a broad vision of your business. The greater the visibility, the easier it will be to achieve the goals.
- Improve planning: SMART objectives are a guide to help you organize, plan, anticipate and verify progress.
- Focus on what is important: Understanding the path you are following is fundamental in determining what you have to do, how to do it, and what you need to do to get there.
- Establish more control: Provide better distribution of your physical and financial resources, which, in turn, will save you money.
- Optimize communication: Implementing SMART objectives improves communication and helps build team cohesion.
- Boost time management: SMART objectives help you delegate activities and better manage time in your company.
- Establish continuous ways to improve: When you have a vision of the business, control of your resources, proper planning, and a strategy, it is easy to establish effective processes.
As you can see, there are many reasons why SMART goals are necessary for your business. Implementing them can help you reduce time, effort, and money spent on unnecessary resources. Your work will only be geared towards accomplishing your goals. That way, you will be able to eliminate the exhaustion and frustration of a job that does not take you anywhere.