One-third of the way through Q1 - what’s your goal?

January is almost over already. Do you know where your Q1 goal is? Like any goal, your plan for Q1 is more likely to be met if you write it down. Better yet, make your goals S.M.A.R.T.

S.M.A.R.T. goals have been around in one form or another since the early 1980’s. They come in a variety of shapes and sizes, and over the years they’ve been tailored to fit a wide variety of different businesses. Generally, being S.M.A.R.T means having goals that are:

Specific.  Exactly what is it you want to achieve in your business, and to what extent? The more specific you can be, the easier it will be to focus on your objective. When you’re writing down your goal, try to answer questions like: which, what, who, where, when and why. Consider whether your goal can be broken up into smaller, more manageable tasks.

Measurable.  A stated goal is great, but it will only take you so far without some means of measuring your progress. How will you track your progress? What sort of metrics can you use? Establish clear definitions and methods, so you know what you want to measure and why. Over time you’ll be able to refine your methods, so you’re only tracking the numbers you need. If you’re not sure where to start, try examining some of the more common metrics in your industry. Where do the leaders in the field rank? How well do you stack up against them?

Accountable.  In some versions of S.M.A.R.T., you’ll also see this written as Action-Oriented or Attainable. Either way, it amounts to much the same thing: say what you’re going to do and outline the exact steps you will take. Your goal need not be modest, but it does need to be one you can obtain. Shoot for the moon, but make sure you have a rocket that will get you there.

Realistic and Relevant.  Your goal should be challenging, but also realistic and relevant to your business. As you develop new and better strategies, an objective that was once distant can gradually become a reality. Consider what obstacles you’ll encounter and how you will overcome them.

Time-Bound.  We all wish we had unlimited time to reach our goals, but time is luxury that an entrepreneur rarely has. Customers want what they want when they want it, which is usually before they’ve ever asked for it. A concrete deadline can give you a sense of urgency. It can also help keep your long-term goal from being swallowed up by the short-term crises that inevitably arise.

S.M.A.R.T. goals can help you more efficiently organize your business and focus your efforts. As the New Year rolls around, why not work S.M.A.R.T.er, not harder?