Proven Tips for Goal Setting
Goals are essential for success because they provides clarity and focus and allow you to hone in on what is needed to achieve your vision. To get you moving in the right direction, here are a few of our advisor’s favorite tips for goal setting.
- Set SMART Goals
SMART Goals are goals that are specific, measurable, achievable, relevant and time-based. Put simply, SMART goals help you turn a vague idea into an actionable plan for results. A quick example of this is how we look at our current goals. As business owners, we all want to “get more business,” but to accomplish a goal of achieving more business, we need to set goals that are specific, measurable and easy to track. For that reason, a goal to “Increase revenue by 20% in 6 months” is easier to better than “grow revenue.”
Try using these questions to see if you’re being smart about your goals.
Goal – ________
S – Specific – What do you want to accomplish?
M – Measurable – How can you measure progress and know when you accomplish your goals?
A – Achievable – Do you have the skills or resources required to achieve this goal?
R – Relevant – Does this goal align with your overall objectives/vision?
T – Time-based – What is the deadline (and is it realistic)?
- Schedule Follow-up
Once you’ve set your goals, you need to bring consistent follow-up and focus to the goal. Make a monthly, if not weekly, appointment with yourself or your team to review your goals and ensure you’re taking the necessary steps to move towards the goal.
This allows you to check-in with yourself and your team to really ensure the goals you’ve set are still achievable.
- Macro to Micro
Begin with your macro goals in mind and work your way backward to break your goals into smaller goals. Breaking your macro goals into micro goals opens an opportunity for smaller victories on the road to larger and longer-term success while simultaneously giving you the transparency to see what might break or what needs to shift in the business to get to the next level.
Whether you’re just getting started or you’ve already set some goals for the quarter, give some of these tips a shot.