All companies strive to grow, what sets them apart is how they choose to get there. There are many obstacles that must be overcome before a business can be profitable. These intermediary goals are the meat and potatoes of doing business. Setting goals will allow you to achieve the growth you desire. There are many things to keep in mind when determining what the smaller goals should be, but the main point to remember is to keep your goals SMART.
S- Specific. A good goal will be specific in what it hopes to achieve. A sales goal should include a specific number. A growth goal should include a specific percentage or number of new customers. By setting a specific goal, you’re able to visualize a final endpoint. As this point gets closer, it can pull your employees toward the goal and fire them up.
M- Measureable. A measurable goal is the only way to truly track progress. By tracking your progress you are able to see how you’re performing. Whether you are on track or not you are able to give feedback and recognition. You will be able to hold people accountable and make adjustments as they need to be made.
A- Attainable. The goal you set should be specific, but also achievable. An extraordinarily high sales goal in a short time could set your team up for disappointment. Keeping a goal in the realm of possibilities will keep employees engaged.
R- Realistic. The goal must be realistic. If the goal has a number associated with it that everyone knows is unachievable the team will have little to no motivation to attempt to reach it. Lower motivation will cause less work and what could have been achieved with a more realistic goal will not occur. You know the economy, you know the people you work with. Set them up for success.
T- Time oriented. Solid goals have a final end date. Deadlines give teams something to look forward to. They are able to clearly strategize and they have something to work towards. By setting a goal, you are also able to give feedback and track progress.
Setting SMART goals will remind your employees what they are working for. Giving them an end goal that they can visualize will give them more overall motivation. SMART goals will allow you to hold everyone accountable, including yourself. Accountability and progress tracking combined with extra motivation will allow you to grow and reach your ultimate goal, business growth.