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Setting Smart Business Goals

Simple Alliance, Kenya Limited


Goals

The objectives you set for your business constitute your goals. Your business’ success largewly depends on the goals you set.

Importance

Your business goals are important because they:

  • Guide actions
  • Establish performance motivators
  • Could act as benchmarks for assessing performance

Setting Goals

Goals help you to avoid unnecessary distractions while running your business.  With goal setting practice makes perfect.  The more goals you set, the easier it becomes to set others. Further, setting and achieving goals creates a force for setting even more goals.

Dilemma

Most persons fear documenting their goals. They are reluctant to commit to the goals.

Solution

If you are among those who dislike writing their business goals down, you need not worry. You could change goals even after documenting them. This fact should ease businesspersons’ fears of writing their goals down.    

Goal Principles

For effective goal setting and goal accomplishment, you need to abide by several guidelines, including:

  • Setting both short- and long-term goals  
  • Introducing the S-M (Specific, Measurable) concept into your goal setting
  • Ensuring the attainability of your goals
  • Making your goals challenging
  • Making relevant goals
  • Showing persistence and patience
  • Constantly reviewing your goals

Establish Short- and Long-term Goals

Your goals could be weekly, monthly, yearly, 3-year, or even 5-year-long. Generally, you first settle on your long-term before arriving at your short-term goals.  The following steps could help you:

  • Pinpoint your long-term goal
  • Enumerate the tasks you need to undertake so as to achieve this long-term goal
  • Break the tasks down into smaller goals

Making your Goals Specific, Measurable-Compliant

Your goals need to be specific. Clearly quantify your goals. The goals also need to be measurable. You can make your goals measurable by quantifying them. This initiative permits assessment of your goals.   

Making your Goals Attainable

Unattainable goals are a recipe for failure.  You thus need to make your goals achievable.

Introduce the Challenge Aspect into your Goal Setting

Avoid setting very easy to achieve goals. Challenge yourself by making your goals tighter perhaps with each successive trading period. 

Ensuring your Goals are Relevant

Make sure that your goals are crucial to your business’ success. This quality will prompt you to actively pursue your goals.

Exhibiting Patience and Persistence

You may fail to attain your set goals. Let such an eventuality not dampen your spirit. Instead, continue setting goals on a regular basis. 

Frequently Reassess your Goals

Through constant review, you will suitably modify your goals based on changing aspects such as your business model.  This alteration will reflect your equally changed business focus. For efficacy you need to organise your goals based on their scope, as in:

  • Place your short-term goal documents within easy reach
  • Keep longer-term goals at a place you can conveniently access them, for example, in your drawer

Goals impact on your business’ success to a large extent. They are crucial business management tools. Goals guide your actions. They help establish a benchmark for measuring performance. Goals also help you to pursue particular course of action. Certain business principles will help you to make proper goals. These standards include;  Setting both short- and long-term , Introducing the S-M (Specific, Measurable) concept into your goal setting, Ensuring the attainability of your goals, Making your goals challenging, Making relevant goals,  Showing persistence and patience , and constantly reviewing your goals.

Copyright (C) 2016, Simple Alliance Kenya Limited

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