The Importance of Setting Meaningful Goals for Your Business

As an entrepreneur, what are your goals for your business? You undoubtedly want to grow and upscale your business, expand your customer base, boost your profit margin, and utilise technology so that your business is future-proofed for the 21st century.

If you have goals, are they clearly defined and measurable?

When setting goals, it is important that your goals be meaningful and help you to grow in the process. 

There is a framework that helps create effective and attainable goals – The S.M.A.R.T method.

What do SMART goals mean?

SMART goals are an excellent way to set a criterion for your goal. This acronym is a great framework for setting goals. Each letter of the acronym represents a characteristic that the goal must have:

S – Specific: make your goal concrete and defined

A goal must be specific to be attainable with focused effort. A specific goal states:

  • what you want to achieve
  • who is responsible for this


Example: “I want to grow my email list” is a more clearly defined goal than saying “I want more leads.”

Thanks to a specific goal like this, you know whether you are ‘on target’ or whether you need to make adjustments. 

M – Measurable: make sure you can measure it

To determine goals that can actually be measured, ask yourself the following questions:

  • what exactly do I want to achieve?
  • how am I going to measure the results?

It is best not only to put a number on the final goal, but also on some interim milestones. 

Example: “I want to grow my email list by 10 people per week” 

A – Attainable: is the goal attainable?

Your goals should feel scary, but not cause you to panic. If goals are too easy, they will be reached, but not much is really gained. If goals are too big, you can end up discouraged or lose money or resources unnecessarily.

Example: “I want to grow my email list by 10,000 people per week in three months.”

 As much as this is a great goal, it may not be attainable in that timeframe. Be ambitious, but make sure your goal is achievable.

R – Relevant: does it contribute to the growth of your business?

The goals you choose should fit your business, mission and vision. So think carefully about whether the goals add value and help your business to grow in the longer term. For example, as a growing business, do you want better brand awareness? Then the start of a new marketing campaign with a new radio spot, or more online advertising can be a good next goal.

T – Timely: set a clear deadline

Set a specific deadline or time period for achieving each goal. This way you are building in accountability, as you have a date to aim for.

“I want to grow my email list by 10 people per week from 1st October 20xx – December 20xx.” 

 

"Setting goals is the first step in turning the invisble into the visible" - Tony Robbins

why should i use smart goals?

Setting SMART goals can help you achieve your desired success in your business. While setting goals can be challenging, using the SMART method will assist you in the process and provide structure as you define the goals.

work smarter with smart goals

If your goals are SMART, you have a clear direction and focus. Moreover, they are the perfect benchmark for evaluating your progress: by following your SMART goals, you can immediately see whether or not you are making progress in your business.

Also read: How to Measure Your Progress Against Your Business Goals

"A goal properly set is halfway reached" - Zig Ziglar

start setting smart goals & planning for 2023 with bpd!


We are hosting our GET FOCUSED WORKSHOP to get you and your business ready for 2023!

We will assist you with creating SMART goals, developing a plan and providing practical tools and techniques so your business can thrive next year!

Want to know more about this workshop and to secure your place? CLICK HERE!

Take the opportunity to get the support you need to better understand how to define your business goals and know what it takes to build a 21st-century profitable business.

Live Your Passion!

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