How to set smart goals when starting a business: the SMART technique

How to set smart goals when starting a business: the SMART technique

The main difference is that the second was raised with a technique called SMART. Smart in English it means: smart, insightful, bold, etc. In this context, it is an acronym made up of 5 characteristics that good objectives must fulfill simultaneously:

S: Specific (Specific). Define a clear and concise range of action. You must identify what aspect of the organization I am going to evaluate and why it is significant. If you are talking about followers in networks, identify which network you are talking about and why it is important for the organization.

M: Medible (Measurable). Goals should be numbered. Whether in terms of sales, billing, growth percentages, cost reduction, scope, marketshare, among other. Being measurable will allow determining to avoid ambiguities and subjectivities. Once the deadline has passed, it must be measured and corroborated if it was met or not. It is important to avoid vague concepts such as: many, improve or reduce. Quantities must always be specified.

A: Achievable (Achievable). The goals should be challenging, but not impossible. An objective that is too simple will not require an effort from the collaborators, on the other hand, a very complex one may demotivate and frustrate.

A: Relevant (Relevant). They should contribute to the achievement of the organization’s long-term goals. Many employees spend time performing tasks that do not add value, therefore wasting the scarcest and most valuable resource: their own time.

T: Time (Time-bound). There should always be a time limit. Time horizons may vary. The most used measure is a month, since it is enough time to evaluate its results and consider whether to implement a new strategy, or continue with the established one. However, it is also important to set quarterly and annual goals. These will clarify the north of the organization. For more complex goals or whose results will be seen in a longer time, it is advisable to divide them into simpler goals.

This tool, although not miraculous, simplifies management and the constant feedback cycle necessary for the proper functioning of any organization. Like any tool, it is perfected with practice.

Therefore, I invite the reader to take a few minutes, reflect and write the answers to the following question on a piece of paper: “What are the goals I plan for 2022?”

Responsible for the Center for Entrepreneurs UADE Hub Costa Argentina.

Source From: Ambito

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