Drew | Business Insights

Do you know how to define SMART goals?

Written by Drew's editorial team | Sep 1, 2022 9:43:05 PM

Who has never heard of SMART goals? Sure, almost everyone, but how do we apply these objectives or goals daily in our life or business?

Let's take a quick look at what Smart Goals are. SMART is a methodology that allows us not to forget the essential elements when writing an effective objective.

<<< How to write a SMART goal for the success of your company >>>

 

In a few words, S.M.A.R.T. is an acronym for 5 words (elements):

  • Specific
  • Measurable
  • Achievable 
  • Relevant 
  • Time-bound 

Having these goals within the company has these advantages:

Smart goals are easy to understand.
The Smart methodology is based on setting goals that can be achieved. In this way, we will know clearly when an objective has been reached (completed).
Writing objectives serves as a guide throughout an entire project.
Defining goals allows a work group to identify goals and assign tasks and responsibilities to each member.

So, how to define smart goals in your company?

Define a “smart” goal keeping in mind the five characteristics:

 

1. Specific.

When defining a Smart goal, it should not be ambiguous, whether we set personal goals or if we work together with a work team in the form of a company or agency.

A good way to achieve this is to write a specific goal answering as many questions as possible:

  • What.  Details of what we want to achieve with our goal.
  • Which. Including possible real obstacles that prevent us from reaching our goal.
  • Who. The person assigned to achieve a goal. It may be a delegated job for a third party. In many cases, it's ourselves.
  • Where. If the location is relevant to meeting a goal, we must not forget the "where".

 

2. Measurable.

If we do not measure the progress of a goal, we will never know how far we are from reaching it. A goal to be Smart must be quantifiable.

When defining a goal we should ask ourselves these questions:

  • How much? How many?
  • How will I know when it's done? (with the objective or goal).

Measurement implies monitoring; in other words, being able to measure means being able to track.

 

3. Achievable.

When creating a goal we must seriously think about whether it is something possible to achieve.

Realistic goals should encourage us to move forward and not discourage us. But do we already have the necessary skills and tools to achieve it? Is there not some previous stage or step that we are leaving aside?

An achievable goal should answer:

  • How can a goal be achieved?
  • How attainable is the goal?

 

4. Relevant.

To be relevant, a goal must be found according to the global strategy of our brand, company, or personal strategy.

Some questions to define relevant goals:

  • Why.  Asking ourselves "why" helps us realize whether or not it is an important goal. We will give priority to those that really are.
  • Is the individual goal important to the overall goal (strategy)?
  • Is it the right time to set this goal?
  • Is the person assigned to the goal the right one? (company, group) Am I the right person? (personal/professional brand).
  • Does the objective adapt to the reality or context in which we find ourselves?

<<< How to write a SMART goal for the success of your company >>>

 

5. Time-bound.

It is essential to establish a deadline to meet a goal. This is usually more difficult to achieve in the case of personal goals. Being ourselves the ones who “control” ourselves, we tend to cheat.

In any case, in the case of a company or startup, it is important to set a time frame to prevent certain tasks from being postponed due to new problems that seem "apparently" urgent.

When formulating a Smart goal, we should ask ourselves:

  • When should it be finished? Set a deadline.
  • What should I do today, tomorrow, the day after...? Avoid emergencies or urgencies.
  • What should I do in 6 months? Avoid putting out fires within 6 months.