How To Set Smart Goals for Your Small Business

We have all heard the excuses for not setting goals, mainly people don’t see the value in taking the time to really think about what they want to accomplish in the short-term and how that will affect their long-term success. As a small business owner, it is important to set goals as they serve as a guide in making decisions.

The excuses for not setting goals range from I’m too busy, I know what I need to do, I have been doing it this way and it works or I don’t set goals because I am afraid I won’t reach them. Here are 7 reasons why goals are useful and worth creating:

1. Contribute to the success of the company

2. Set specific expectations

3. Create clear measurable performance standards

4. Self-motivate

5. Focus on what is important

6. Boost job and personal satisfaction

7. Help to prioritize efficiently

Goal setting might appeal to common sense, but sense in goal-setting isn’t very common. When setting goals make sure they are SMART goals, Specific, Measurable, Achievable, Relevant, Time-bound.

Specific: Goals must be clear and specific. Goals should say exactly what is expected, when and how much. When goals are specific, progress can be monitored.

Measurable: If goals are not measurable, then it is not possible to monitor progress toward successful completion. Milestones are important and should be recognized.

Achievable: Goals must be realistic and attainable, a little stretch is okay but a common mistake is setting goals too high, those types of goals are easy to ignore.

Relevant: Goals must be an important tool in the grand scheme of reaching your vision.

Time-bound: Goals must have starting points, ending points and fixed durations. Commitment to deadlines helps to focus your efforts on completion of the goal on or before the due date.

We’d love to hear why you set goals in the comments.

Additional resources for goal setting

Set Goals, WikiHow

SMART Goal Setting: A Surefire Way To Achieve Your Goals, Goal Setting Guide

Source Micro Business Perspectives

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