Hello springtime! Time to check-in on those New Year’s resolutions and annual company goals you’ve set. Have you stayed strong and made progress in first quarter? We recommended some apps to help you all keep your personal goals in check, but consistently meeting your business goals can be a very different task.
So today, we’re sharing with you the SMART way that The Simplifiers set targets for each quarter. This is a tool that will help your firm monitor and measure your success and of course, hit those all important goals!
As some of you might have already guessed, we’re talking about SMART goals.
By setting goals that adhere to the S.M.A.R.T. criteria, the structure will allow your firm to easily monitor your aims, making the necessary changes to ensure you get there.
So, let’s break down S.M.A.R.T.:
Be specific when setting your goals. This means that saying “this quarter, I want to book more brides,” is a no-go. Instead, try setting a goal which compares to your firm’s previous performance. Try setting a goal like “achieve an 10% increase in booking full-service client events, compared to last quarter.” By being specific with what you want to achieve, you are much more likely to achieve it!
By making the goal measurable, you’ll have tangible evidence when you’ve reached it. And if you’ve not got there just yet, you’ll be able to see exactly how far you are from reaching it. Know exactly how many client events you’ll need to book and estimate how much revenue you aim to hit…as we all know, not all events are built the same nor have the same budgets.
Is your goal actually attainable? Be honest with yourself here. If you set yourself a goal that you don’t have the time/money/manpower to achieve, you’re unlikely to get there. It’s great to reach for the stars, as long as you’re not setting yourself up for a fall that could damage your team’s moral or worse, set you off-course completely.
How relevant is what you want to achieve to your broader business objectives? Basically, check your reasoning for wanting to reach this goal. Will it improve your position in the wedding market or will achieving your goals not benefit your firm in a wider sense? Does it fit in with your firm’s branding, vision and mission statement? What about your core values?
Linking your goal to a set time-frame provides a practical sense of urgency. By doing this, it stops the goals getting pushed to the wayside, to be completed ‘another day’ (spoiler alert: that day never comes). However, make sure you give yourself an achievable timeframe because again, setting yourself up for failure serves no one.
By using SMART goals, you’ll be able to track your aims for the next quarter and quickly identify missed targets. Remember, tapping into the Lean Startup method of running your business, your goals are set to be tested, validated and pivot, when necessary.
Have you used SMART goals before and found they’ve helped hit your targets? Or does your firm use another great tool for keeping on track with goals? Let us know in the comments section!