It's important to have a good business plan for your company, but not all business plans are created equal. The best business plans stay sharp, clear, focused, and manageable. Unfortunately, many business plans instead are vague and unrealistic. Business guru and manager Peter Drucker invented the principles behind SMART goals, goals intended to be more easily achievable for individuals and businesses. When you follow the SMART rubric when creating business goal plans, your business is more likely to succeed.
Here’s what to focus on as you create a SMART business plan:
Here’s what to focus on as you create a SMART business plan:
Specific. Keep your business goals simple and to the point. Make clear and easily interpretable goals that the entire team or staff will easily understand and agree upon.
Measurable. You need to be able to measure goals quantitatively in order to make them specific and achievable. Make sure any goal your business makes has a non-arguable rubric using numbers.
Assignable. If a goal can't easily be assigned or delegated, then it's not specific enough or achievable. Make sure you have a staff member, or team, who understands the goal and feels able and willing to take it on.
Realistic. Company goals needs to be something the managers and staff agree the business can achieve realistically. Look to create goals for improvements that are incremental, rather than expecting massive changes immediately.
Time limited. Part of measuring a goal means that it needs to have an end date. Develop business goals that have a specific beginning and end date. After the end date, you'll be able to reassess and create new SMART goals.
By making your business plan SMART, you will find it easier to keep your business on track and find success. Contact us for help making your business great this year.
Measurable. You need to be able to measure goals quantitatively in order to make them specific and achievable. Make sure any goal your business makes has a non-arguable rubric using numbers.
Assignable. If a goal can't easily be assigned or delegated, then it's not specific enough or achievable. Make sure you have a staff member, or team, who understands the goal and feels able and willing to take it on.
Realistic. Company goals needs to be something the managers and staff agree the business can achieve realistically. Look to create goals for improvements that are incremental, rather than expecting massive changes immediately.
Time limited. Part of measuring a goal means that it needs to have an end date. Develop business goals that have a specific beginning and end date. After the end date, you'll be able to reassess and create new SMART goals.
By making your business plan SMART, you will find it easier to keep your business on track and find success. Contact us for help making your business great this year.
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