Creating SMART goals
If you haven't defined your target how are you going to hit it?
When a client sits down with me for their first business coaching session the conversation usually goes something like this:
Me : "what do you want to achieve from your business?"
Them: "I want to earn a lot of money"
Me : "how much is a lot?"
Them: "More than I have now"
Me : "1p is more than you have now, would that be enough?"
Them: "NO!"
Me: "Then how much money exactly do you want to generate from your business?"
Them: "ummmmmm ......"
Without a clear target in mind you will end up taking a scatter gun approach to business which is time consuming and draining.
After this clunky start we spend an hour or so working through their personal goals so we can create business goals that they are inspired and motivated to achieve.
Make goals SMART and personal. Let your personal goal drive your business goal. Make them SMART so you can get where you want to be as quickly as possible.
Here are some simple steps to creating an achieveable & inspirational target that you are sure to hit
1. Determine what you want to be, do, and have in your personal life.
2. Work out how much time, money and resources you will need to achieve that life style.
3. Write this down as it will form the foundation of your business revenue/salary target.
4. Bring in longer term goals: what do you want to achieve this year, in 5 years and 10 years?
5. Write a SMART goal for each of these years - most people fail because they do not make
SMART GOALS : Specific, Measurable, Achievable, Realistic/Responsibility, Timely
'I want to become a millionaire' is not a SMART Goal. Why? Because it is missing the M A R T elements of a structured goal.
For it to become a SMART goal it should read something like this:
S - I want to become a millionaire by 01 January 2015.
M - On 01 January 2015 I will see £1,000,000 as a balance in my bank account.
A - I have evidence to show that this is achieveable in the form of a solid business plan
R - It is my responsiblity alone to achieve the actions outlined in my business plan
T - I will do abc by xyz date and def by xyz date so I can achieve my goal of becoming a
millionaire by 01 January 2015
6. Put your 5 & 10 year goals away for the moment so you can focus your full attention on achieving year 1's goal. Sometime people fail because the goals seems too far away or too daunting; breaking goals down into milestones helps to keep you on track and is less daunting.
7. Compose actions to achieve each milestone
8. Create a reward for when each milestone is achieved - it really helps to keep you motivated!
9. Change or adapt your goal if necessary based on experience or results - it's not set in stone
10. If your action doesn't take you closer to your goal STOP DOING IT!
Here’s to your continued success!
Leanne Flower
Like MInded Women