When I’m being cheeky…you’ll her me say the opposite or what is true. For example: “you don’t want to do have dumb goals??” and in my business case “you don’t want to do business the dumb way, let’s do it with wisdom!!”

SMART goals are a simple framework widely adopted. It’s a good way to walk through each criteria, with a pen and paper (or behind a screen) and break your goal down to meet each requirement.

Here’s what each component of a SMART goal entails:

  1. Specific:
    • Goals should be clear and specific, leaving no room for ambiguity. They answer the questions: What exactly do I want to accomplish? Why is it important? Who is involved? Where will it take place? What resources are required?
    • Example: “Increase sales revenue by 20% within the next fiscal year by expanding into two new market segments.”
  2. Measurable:
    • Goals should be quantifiable so that progress can be tracked and measured objectively. They answer the question: How will I know when the goal is accomplished?
    • Example: “Track monthly sales revenue to ensure a consistent increase of at least 1.7% each month to reach the overall target of 20% growth.”
  3. Achievable:
    • Goals should be realistic and attainable, considering available resources, skills, and constraints. They answer the question: Is the goal reasonable and within reach, given the current circumstances?
    • Example: “Considering our current market position and resources, is it feasible to expand into two new market segments within the next fiscal year?”
  4. Relevant:
    • Goals should be relevant and aligned with broader objectives and priorities. They answer the question: Does this goal matter and contribute to the overall mission or vision?
    • Example: “Will expanding into these new market segments contribute to our long-term growth strategy and profitability?”
  5. Time-bound:
    • Goals should have a defined timeframe or deadline, providing a sense of urgency and accountability. They answer the question: When will this goal be accomplished?
    • Example: “Achieve the 20% increase in sales revenue within the next fiscal year, starting from the first quarter and concluding by the end of the fourth quarter.”

By setting SMART goals, individuals and organizations can increase their likelihood of success by providing clarity, focus, and a roadmap for achievement.

This is all apart of the Business with Wisdom framework to get Clear, get Focused, get Going to building your Strategy, your Systems and your Team! Let’s connect today!