How to set a SMART Goal?

Goals are part of every aspect of business/life and provide a sense of direction,motivation, a clearfocus, and clarify importance. By setting goals for yourself, you are providing yourself with a target to aim for. A SMART goal is used to help guide goal setting. SMART is an acronym that stands for Specific,Measurable,Achievable,

Realistic, and Timely. Therefore, a SMART goal incorporates all of these criteria to help focus your efforts and increase the chances of achieving that goal.

The Importance of SMART Goal Setting

Often, individuals or businesses will set themselves up for failure by setting general and unrealistic goals such as “I want to be the best at X.” This goal is vague with no sense of direction.

SMART goals set you up for success by making it specific, measurable, achievable, realistic, and timely. The SMART method helps push you further, gives you a sense of direction, and helps you organize and reach your goals.

SMART goals are:

• Specific: Well defined, clear, and unambiguous

• Measurable: With specific criteria that measure your progress towards the accomplishment of the goal

• Achievable: Attainable and not impossible to achieve

• Realistic: Within reach, realistic, and relevant to your life purpose

• Timely: With a clearly defined timeline, including a starting date and a target date. The purpose is to create urgency.

1)Set Specific Goals

Your goal must be clear and well defined. Vague or generalized goals are unhelpful because they don't provide sufficient direction. Remember, you need goals to show you the way. Make it as easy as you can to get where you want to go by defining precisely where you want to end up.

:Set Measurable Goals

Include precise amounts, dates, and so on in your goals so you can measure your degree of success. If your goal is simply defined as "To reduce expenses" how will you know when you have been successful? In one month's time if you have a 1 percent reduction or in two years' time when you have a 10 percent reduction? Without a way to measure your success you miss out on the celebration that comes with knowing you have actually achieved something.

:Set Attainable Goals

Make sure that it's possible to achieve the goals you set. If you set a goal that you have no hope of achieving, you will only demoralize yourself and erode your confidence.

However, resist the urge to set goals that are too easy. Accomplishing a goal that you didn't have to work hard for can be anticlimactic at best, and can also make you fear setting future goals that carry a risk of non-achievement. By setting realistic yet challenging goals, you hit the balance you need. These are the types of goals that require you to "raise the bar" and they bring the greatest personal satisfaction.

2.Set Relevant Goals

Goals should be relevant to the direction you want your life and career to take. By keeping goals aligned with this, you'll develop the focus you need to get ahead and do what you want. Set widely scattered and inconsistent goals, and you'll fritter your time – and your life – away.

:Set Time-Bound Goals

Your goals must have a deadline. Again, this means that you know when you can celebrate success. When you are working on a deadline, your sense of urgency increases and achievement will come that much quicker.

For example, building on the goal above: On August 1, I will obtain a gym membership at my local community center. In order to be healthier, I will work out four days a week. Every week, I will aim to lose one pound of body fat. By the end of August, I will have realized my goal if I lose four pounds of fat over the course of the month.

3. Set Goals in Writing

The physical act of writing down a goal makes it real and tangible. You have no excuse for forgetting about it. As you write, use the word "will" instead of "would like to" or "might." For example, "I will reduce my operating expenses by 10 percent this year," not "I would like to reduce my operating expenses by 10 percent this year." The first goal statement has power and you can "see" yourself reducing expenses, the second lacks passion and gives you an excuse if you get sidetracked.

4. Make an Action Plan

This step is often missed in the process of goal setting. You get so focused on the outcome that you forget to plan all of the steps that are needed along the way. By writing out the individual steps, and then crossing each one off as you complete it, you'll realize that you are making progress towards your ultimate goal. This is especially important if your goal is big and demanding, or long-term.

5. Stick With It!

Remember, goal setting is an ongoing activity, not just a means to an end. Build in reminders to keep yourself on track, and make regular time-slots available to review your goals. Your end destination may remain quite similar over the long term, but the action plan you set for yourself along the way can change significantly. Make sure the relevance, value, and necessity remain high.

Key Points Goal setting is much more than simply saying you want something to happen. Unless you clearly define exactly what you want and understand why you want it the first place, your odds of success are considerably reduced.