Sunday, June 23, 2024

It is time to be “S.M.A.R.T.”

by David Specht

Do you have any idea what you will be doing in your business in 2018? If you haven’t started to think about it, now is as good a time as any.

According to an article in the Houston Chronicle, “Goals are an important component to achieving success in any endeavor, including the world of business. Goals serve as a guide to keep you on course when times get tough, and prevent you from becoming distracted by unimportant matters. Goals also provide benefits in areas like planning, motivation and the attainment of rapid results.” You can read the entire article here.

However, simply setting a goal is not enough. In fact, how you set it is also important. Your goals need to be “S.M.A.R.T.”

SMART is an acronym that you can use to guide your goal setting.

Its criteria are commonly attributed to Peter Drucker’s Management by Objectives concept. The first known use of the term occurs in the November 1981 issue of Management Review by George T. Doran. Since then, Professor Robert S. Rubin (Saint Louis University) wrote about SMART in an article for The Society for Industrial and Organizational Psychology. He stated that SMART has come to mean different things to different people, as shown below.

To make sure your goals are clear and reachable, each one should be:

Specific (simple, sensible, significant).
Measurable (meaningful, motivating).
Achievable (agreed, attainable).
Relevant (reasonable, realistic and resourced, results-based).
Time bound (time-based, time limited, time/cost limited, timely, time-sensitive).

If you need help with setting SMART goals, here is a free downloadable form, courtesy of the University of Virginia. You can get it here.

Now is the time to set your goals, so that you can have a plan in place to attain them. After all, January is only 4 months away.

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