goals for business

SMART Goals for Business Owners

By Alison Flangel

SMART goals are used in the professional world to define and guide the importance of goal setting. As a small business owner, creating strong and attainable goals is essential for success. Below, we will walk through what SMART goals are, and tips for creating your own!

What are SMART goals?
SMART goals have five components …
S = Specific: Well-defined and clear goals with a purpose. This includes questions such as: who is involved in this goal, what do I want to accomplish, where is this goal to be achieved, and when do I want to achieve this goal.
M = Measurable: Includes criteria that measures progress toward the end goal. Measurable goals specify indicators of progress, as well as tools to determine if a goal has been met.
A = Attainable: Not impossible to achieve, something that is realistic. When thinking about attainability, it is important to ask yourself if you have the resources and capabilities to achieve the goal at hand.
R = Relevant: Within reach and aligns with your business targets. To determine if your goal is realistic, ask yourself if your goal is reachable given the time and resources you have available to you.
T = Time-Based: Includes a timeline that is clearly defined with a start and end date. When creating goals as a small business owner, it is important not to rush the process. Creating a timeline that is reasonable based on your own abilities is essential.

Why should you use SMART goals as a small business owner?

  • SMART goals provide structure to your business. Whether you are working on a specific project, or want to achieve personal growth, creating a SMART goal helps to outline clearly what you want to achieve.
  • It is easy to track the progress of your goals using the SMART method. Closely tracking the developments within a goal can not only help you stay organized, but more importantly stay motivated to hit your deadlines.
  • It is easy to get overwhelmed when attempting to complete a big goal. Using the SMART structure, each part of your project is clearly outlined, which creates a non-stressful work mindset.

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