Now that 2017 has begun, business owners that are serious and committed to growing their business can greatly benefit from the establish SMART goals for their business. SMART is an acronym that serves as a guide for optimal goal setting using straightforward principles:
Below are explanations of these principles to help you formulate your own SMART goals for your business:
Goals should be distinct to ensure there’s no misconceptions of what is trying to be achieved. With clear goals, one can truly focus on the tasks-at-hand in order to get where they want to be.
Measuring your progress is imperative to any type of improvement effort. In any business, from retail to restaurants, without measurable goals one cannot analyze and improve.
Personal or business goals should be achievable, but don’t mistake that with making them easy. Goals should push people to their limits while still remaining reachable, otherwise you risk losing motivation.
Goals being realistic, in comparison to attainable, refers to setting goals that make sense. Can it be achieved? Do you have the time and resources available to reach this goal? Are they relevant to what you’re trying to achieve?
All goals should have a timeframe or target date so you can realize the importance of focusing on the main task. Setting these helps to keep the eye on the prize.
At Verdeja, De Armas & Trujillo LLP, our team of Miami accountants is dedicated to providing personalized, financial guidance. Contact us today for a consultation!