SMART objectives have been around for a while. They are a popular tool for business planning. SMART goals were developed in 1981 and have stood the test of time.
What are SMART objectives?
Goals need to make sense and be measurable if a business wants to move forward.
SMART Goal examples could be; raising the average sale amount, increasing staff skill levels or improving standard operating processes and procedures.
S Is for Specific
Making a goal specific is key to getting it done. If your goal is too vague, you and your team will be sliding off the rails trying to stay on track.
Instead of just saying you want to increase sales, describe what you want to do in detail.
Are you trying to open new sales channels, lengthen a pipeline, incentivise all staff or just senior staff? What exactly do you want to do?
M Is for Measurable
You need to set targets, so you know how you are travelling as you try and achieve your goal.
Otherwise, how will you know if you have been successful. Define what success looks like in your goal through quantifiable figures. Words like increase, decrease, or maintain can put you firmly in measurable territory. Make it simple for all staff to understand.
A Is for Achievable
Goals must be achievable. Enough challenge to be extremely motivating but not so difficult as to unattainable. Use historic information to try and make good decisions about setting goals.
Make sure all staff know what you are trying to do. Keep everyone across their progress and team progress and be open to discussion about what is working and what might need more focus.
Everyone stays on the same page and if you track different aspects of your goal, then you can more easily identify what is working and what is not. In addition to tracking progress, you might monitor who is doing the various tasks involved, any reporting updates, conversations, and other elements related to your SMART goal.
R Is for Relevant
Make sure it is a goal that will have a noticeable impact on the business. Businesses and the business environment changes and you do not want to be caught trying to achieve outdated goals.
Make sure your SMART goal is aligned with the objectives of whole business. The business has a purpose, and SMART goals should propel it toward that purpose. If the purpose isn’t shared throughout the company, goals won’t align and can hold the business back. Only 22% of employees feel that leaders have a clear direction for the organisation. Make sure you aren’t one of them by setting goals that align with larger business needs.
T Is for Timely
Measurement is important for goal setting and so having them timebound is important, because opportunities may exist now that will not exist in a year or two.
You must track your progress, the biggest challenge is implementing the objective.
This is typically the most challenging part because you simply lose momentum. Developing goals tends to be exciting and motivating, but over time, you lose steam as other things get in the way. Tracking is key to keeping your momentum. It tells you how well you’re doing and can nudge you in the right direction if you need to make changes.
Keep it simple though. Maintain focus and motivation by keeping your goal top of mind as you work toward it.
