Setting SMART goals

It is imperative that the business owner and management team understands how to set the SMART goals. Taken step by step, the process is simple and results in a clear and concise goal.

SMART goals must be Specific,Measurable, Achievable, Relevant, and Time-bound. The best way to illustrate the difference between a SMART goal and a more general one is through an example:

A general wish for a small local newspaper might be “increasing readership of our publication.” This is not focused enough to make an actual impact.

A better goal would be: “Advertising and marketing interns will work together to increase online subscriptions through social media and online advertising by 5% before the end of the fiscal year.”

This is specific; online readers are being targeted. It is measurable; online subscriptions would obviously be tracked and profits tallied. It is achievable; for a small publication, a 5% subscription increase could amount to just a handful of individuals. It is relevant; the advertising and marketing interns can use their specific talents to create an online campaign which should draw interest. Finally, it is time-bound, giving the employees a solid deadline and enabling them to form a schedule around it.

Also remember to ask yourself the “Five W’s” (who, what, when, where, and why) when setting a SMART goal. Consider who will be performing the task; what it will accomplish; when should it be finished; where (or in what department) will it have relevance; and most significant, why is this an important goal for you, your colleagues, or your company.

These questions can also be simplified to “how much?” and “what kind? depending on your strategic plan. More sets ofsimple examples are available athttp://mystrategicplan.com. Setting SMART goals is the first step to achieving them!





Let our experts help you navigate your small business.

Let our experts help you navigate your small business.