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Make your goals SMART

Posted on: Thursday 16 January, 2020 | Filed in: Blogs

So you’ve finally made some time to sit down and make plans for your business and you’re busy putting together goals and objectives. Maybe you’ve written a marketing plan, maybe it’s a more general list of goals and some ideas of how to achieve them.

BUT… are your goals SMART? It’s all very well working towards objectives but unless they are SMART you won’t be able to check progress and work out how they are helping to improve your business.

SMART objectives are:
• Specific
• Measurable
• Achievable
• Relevant
• Time-bound

What does this mean in practice?

Your goals need to be clear, well-defined and specific to your business. If a goal is too generic or vague then you won’t be able to focus properly to achieve it, or tell when you’ve achieved it.

Your goal needs to be measurable and quantifiable so that you can clearly tell when it has been achieved. Stating that you want to increase customers is not measurable and won’t clearly give you or your staff something to aim for. By contrast, if you state that ‘we will increase our customer base by 20%’ then you can clearly see what you’re aiming for.

An objective should be realistic and attainable otherwise you will get disillusioned trying to achieve it. For instance, if you have been completing £10,000 of sales per week and you state your goal as ‘We will increase sales to £100,000 per week’ this is clearly not realistic and you will quickly give up.

A relevant objective is something that you have control over and that is relevant to the company at its current stage / environment. It is not relevant to set goals to expand abroad for instance if you are still struggling to establish yourself in your local area – set a more relevant target first.

To be meaningful, an objective should be time-bound – in other words set yourself a time-limit to achieve it. For example, ‘I will open two more shops in the next three years.’

If this has started you thinking and you would like some help setting goals for your business, and using marketing to help achieve those goals, then please get in touch.

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