Your Dream Job: How Business Goals Help Make it Happen
When you're a new entrepreneur, it can seem as though everything is possible. But starting a business without an idea of what direction you need to go, you'll end up wasting time, money and energy on details that may not move your business forward. One of the most recognized ways to create a list of your goals is using the SMART method to lay out attainable goals.
S. Specific. Is it specific enough to be able to stay on track? Simply stating that you want your business to be successful isn't enough. Wanting to become one of the top five residential plumbers in your area is more specific.
M. Measurable. Is there a way you can see how much progress you're making? Using the above example, you need to state how you're measuring growth. Are you in the top five by income, market share, customer satisfaction? Determine how you want to measure progress and record it as part of the goal.
A. Attainable. Can you actually reach the goal you're planning? If the top five plumbers in your area have a strong customer base, great customer service, low prices and great warranties, it may not be reasonable to break into that group in a short period of time. Instead of looking at overoptimistic figures, go for a more reasonable figure.
R. Relevant. Does it actually have to do with improving your business? It's easy to set goals that make you feel good, but don't actually move your business forward. Having your plumbing company listed on the back of every Little League shirt this summer may make you feel good, but doesn't necessarily grow your company.
T. Timely. How long will it take to reach? Are you planning on becoming one of the top five plumbers in six months, a year, five years? Adding a time for your goal to be achieved helps you focus your efforts on solid, ongoing business growth.
By using the SMART method to plan your goals, you can start making progress in your new enterprise as quickly as possible. But what if you're not sure whether the goals you're making are attainable? AccountRely can help. Please feel free to contact us today to speak with one of our experienced business associates to get started.