I have never been a fan of New Year’s Resolutions. There is something so depressing about saying you’re going to do something and then, BAM, January 2nd rolls around and you fail.
Not my favorite way to plan for the year.
So instead, I have focused on goal-setting, specifically S.M.A.R.T. goal-setting. Yes, theoretically a resolution is just a goal, but the difference is a goal has an action plan and action is the key!
By setting objectives, strategizing time and resources, and making step-by-step action plans, you are helping to create a clear path to the success you are hoping to achieve. This, by the way, works for business or personal goals. If your goals are too vague or challenging without a specific plan, you are practically doomed to fail before you even begin.
S.M.A.R.T. is an acronym that stands for Specific, Measurable, Attainable – Achievable, Relevant, and Time-based. Here’s how S.M.A.R.T. goals work and how you can implement this system into your 2022 goal-setting strategy:
- T- Time-based
Let’s look at a generic example:
“I want to increase profits.”
Duh! Don’t we all?! Let’s look at this goal from the S.M.A.R.T. perspective:
Let’s narrow this down. Just like niche marketing, the more specific you get, the easier it is to break-down the steps required to see results.
Example: “I want to increase gross profits by 25%.”
How do you know? Obviously, the end-of-year Balance Sheet can tell you a lot, but how are you also measuring your progress along the way? Do you really want to wait until the end of the year to know if you are on the right track? I don’t think so.
Example: “I will implement three new products and services to the company business plan to increase gross profits by 25%.”
Not to be a buzzkill, but is this a reasonable goal? Sure, we all want to increase profits, but if you want to achieve and sustain it in the first month of Q1, you might be aiming a bit high. Using the above “profits” example, you should also include the proper research and experience or resources necessary to achieve your goal.
Example: “I will research the market and capitalize on my partner’s retail knowledge to implement three new products and services to the company business plan to increase profits by 25%.”
What’s the point of increasing profits if your end goal isn’t in sight? Find your “why.” Your goals should naturally align with your values and larger, long-term goals. Ask yourself how achieving this goal will help you with your “big picture.”
Example: “To achieve my goal of hiring a new manager so I can step away from the business more, I will research the market and capitalize on my partner’s retail knowledge to implement three new products and services to the company business plan to increase profits by 25%.”
When will you reach your goal? What’s your time-frame? A specific date can help you find motivation, strategize, and even regroup in the event that your plans don’t quite work out. For example, if your goal was to lose ten pounds in six months, and you actually gained five, the end-date can provide an opportunity to analyze why you didn’t achieve your goal. Maybe the timeframe was way too unrealistic, maybe you gained muscle and lost fat, maybe those late-night pizza trips were a bad idea, maybe you got so confident in your fitness that you’re pregnant (hey, it happens). The important thing is that a specific timeframe can help you sort out some of the details that may or may not be helping you.
Example: “To achieve my goal of hiring a new manager so I can step away from the business more, I will research the market and capitalize on my partner’s retail knowledge to implement three new products and services to the company business plan to increase profits by 25% October 1st of this year.”
Why should I use the S.M.A.R.T. system?
Setting S.M.A.R.T. goals can dramatically shift the way you achieve success by providing a solid, structured action plan for you to follow as you progress (hopefully). Woah, that was a mouthful. In short, S.M.A.R.T. helps you goal-set smarter. Download my free worksheet HERE.
Let’s get S.M.A.R.T. about our goals! Let’s do this, 2022!
What are your business and/or personal 2022 goals?