All entrepreneurs set goals and milestones as part of their business model, however, only a fraction of them manage to build a prosperous enterprise. In many cases this is because their goals are not SMART.
What makes a goal SMART?
- It’s Specific – you have the details of the goal down to a tee.
- It’s Measurable – you know the criteria that will define your success.
- It’s Achievable – you know for a fact that you can attain the goal.
- It’s Relevant – the goal is designed to help your business grow.
- It’s Time-bound – you have a well-defined timeframe for the goal.
Here’s how to make it SMART:
- I want to increase my sales of Christmas decorations by 50% before the new year: from $4000 a month to $6000 a month. At the same time, my expenses should not go up by more than 20%.
- I will achieve this goal by talking to twice as many leads every month – going up from 25 to 50. For this, I will attend twice as many conferences in October, November and December. This means that there must be at least two new conferences each week of each month.