Every business is driven by a goal. A desire far from a wishful thinking to grow, expand and excellently deliver a strategy that’d be of benefit to others towing in their same line of business.
Sometimes, some of these goals are not achieved. They’re either a thought far from execution or a prompt that desires proper work to be executed.
Goal setting in businesses saves you time, money, awful experiences and pain of losses. It is a skill needed to be first put in place before any work is done fully. It is a step in the right direction if well plotted.
The SMART model of goal setting in businesses can be best defined
S – Specific
M – Measurable
A – Achievable
R – Realistic
T – Timely
HOW TO CREATE SUCH MODEL
The SMART model requires careful planning and thoughtfulness. A plan or road map is required to gain specificity as to what the business venture should be or look like. In creating such specificity, a SWOT(Strength, Weakness, Opportunities and Threat) analysis is also brought into the picture. This is a foundation for the rest of the model. Some persons loose it when specificity isn’t well spelt out and blame it on ‘village people’ when things go all time low.
Furthermore, goals are meant to be measurable and achievable. How medium could these goals be measured and how best can they be achieved? The guidelines of these duo serves as a governing factor in pursuit of your goals as a business.
In working out both realism and timeliness, kindly fact check how real are your goals. Query if they’re wishful thoughts or things achievable. Do not intend to sell laptops to a community struggling to get light as an amenity. Yes, they’d get these amenities sooner than later but for now, the realism of it isn’t achievable. Also, set a time. What’s the window period and when should a completion of a task be given? This helps you check or circle every date with its importance.
BENEFITS OF THE SMART MODEL
After clearing implementing the SMART models into business, the benefits are obvious. The benefits of the SMART model are;
1. It saves cost and time. You gain more with less time once the goals are clear.
2. You achieve more no matter the time frame. You do not wish 24 hours, nor 7 days or 28-31 days of a month to do everything. All tasks can be achieved within a week or two, or even shorter.
3. Your business becomes a model to new or already established businesses.
4. Your clients or customers build a sense of trust and dependence on your without the fright of loss or disappointment.
The SMART model is one that’s needed by every business (startup or conglomerate). It is a solid foundation to build on.