Mastering your Business Growth Using The Power of SMART Goals
Whether you’re wanting to scale up your already established business or just starting out and needing direction, Using an invaluable tool like the SMART goals framework can give you focus in what can often be a confusing time!
Specific: Clarity is Key Here
So imagine you’re planning a day out with the kids this summer, setting off on that journey without a destination could end up a little chaotic! Instead of something general like “I really want to grow my business.” Try specifying what that growth looks like to you! Perhaps it’s increasing your social media followers by 20% or launching a brand new product. The more specific you are here, the easier it will be to plan your route for getting there!
Measurable: Track Your Progress
Ensure your goals include metrics to help gauge your progress. For instance, if your aim is to boost sales then decide on a specific number or percentage. This way you can track your progress and celebrate milestones along the way! Try and think in terms of tangible results like “gain 100 new email subscribers” or “increase website traffic by 30%”
Achievable: Set Realistic Expectations
Aiming high is fantastic, but your goals should really be grounded in reality. Assess you current resources, capabilities and the market conditions to set goals that are challenging to you yet attainable! If you aim too high without the appropriate support you could risk burnout and disappointment. So striking the balance is essential!
Relevant: Make sure its aligned with your vision
Your goals should align with your broader business objectives. Every goal should serve a purpose and contribute to your long term business vision! Regularly ask yourself if this goal is going to move you closer to your overall mission. If you’re striving to enhance customer experience in your field, a relevant goal might be to reduce response times or improved product quality.
Time Bound – Deadlines Drive Action
Set deadlines to create a sense of urgency and keep yourself and team accountable. Whether it’s a short-term goal like growing a social media presence in three months, or a long-term goal like expanding into a new market within a year, having a timeframe can keep you focused and motivated.
Putting it all together
Here’s an example of a SMART goal for a small business looking to expand its online presence:
Specific: Increase Instagram Followers
Measurable: Gain 1,000 new followers
Achievable: If we maintain our current engagement rates and carry out the upcoming social media campaigns
Relevant: To enhance brand visibility and drive online sales
Time Bound: Within the next 6 months
By setting SMART goals, you’re not just dreaming about success, you’re planning to achieve it! So, take a moment, revisit your core business objectives and then start setting SMART goals that will help lead to tangible growth.
Please let us know what you come up with! We’d love to hear from you over on social media and be your cheerleader for helping to get you there!
