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How To Set Business Goals

Business : Running Your Business

When setting goals for a business, you should remember the acronym SMART. This is the model around which all your goals should be based. It stands for the following:

S - Specific.

You must ensure that all your goals are specific - e.g. easily identified and understood

M - Measurable.

There is no point having a goal if you cannot measure if it has been achieved or not

A - Achieveable.

It is fine to set goals that are stretching, but if there is no chance of reaching them they will be demotivating.

R - Relevant.

If you are selling ice cream, don't set a target to your staff to sell more chocolate biscuits! If you want to increase profits by 5%, don't set it as a target for your secretary - set it to your salesman who impact on sales.

T - Timely.

Ensure there is a clear timeframe for the goal to be achieved - e.g. by the end of the year.

By: Stephen

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