Every business or start-up seeks to be successful. There is an urgency to find the quickest pathway to becoming a big hit or creating a huge value, but often a company can see minimal results. This is where goal setting is an important starting point. Goal setting allows a company to not only know where they want to begin, but where they want to be in the future. Whether that is 6 months down the road, or 6 years, is all found within the goals an organization sets. When we think about goals, we probably think of a short list of tasks that we would like to complete, or maybe ideas that are way out of reach. Unfortunately, setting the bar too high within your company’s goals are not effective and will likely never be achievable.
This is a good place to look at the idea of SMART goals. A SMART goals is a goal that is specific, measurable, achievable, realistic, and timely. While this idea sounds hefty or complex, the outcomes are simply numerous in the ways they benefit your company when laid out appropriately. The point of having a specific goal is not to have something to look at and reach for, but instead allows you to connect the dots and draw a path to achieve the goal. Simply saying “I want my company to make a profit” is not enough to actually do so, but when you say “By the end of the year one, we seek to make a profit of $100,000” we can now move into finding ways to achieve this. Even if it does not look likely, the fact that your goal was specific allows the tables to move your team ever closer to the goal at hand. In addition, we are looking to have a measurable goal. this is a goal with a defined finish line. If there is nothing to be measured, there is a chance that this goal just too broad. Implementing a time stamp is also valuable to goal creation. When we establish a time sensitive goal, we have allowed a timeline to be developed and a risk to arise in getting where we think our company should be by a certain time. If I did not establish an urgency to reach $100,000 by the end of year one, our goal would look like we are only seeking to make $100,000 and there is nothing more that we can build on to be successful.
For the example, I only used one goal that focused on growing profit, but it is important to set SMART goals for every part of your business! You will want to have goal creation as a part of the culture of your organization and is a healthy way to improve the efficiency of a business starting at the bottom and seeking to reach certain marks. The value of goal creation is priceless. Avoid it only if you do not want organization and success within your business.
Read more on goal setting here!