SMART Goals – What They Are and How to Set Them

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If you want to achieve anything in life, you need to set goals. This is true whether you’re an individual or a business. But not all goals are created equal. To be effective, your goals need to be SMART. It’s crazy to think that 80% of people have no goals and only 6% achieve them.

How many people achieve goals

In this blog post, I’ll explain what SMART goals are and how to set them. By the end, you’ll be ready to create your own SMART goals and start achieving your dreams.

Let’s get started!

What Are SMART Goals and Why Are They Important?

SMART goals are criteria set by businesses and individuals to measure the success of their projects and efforts. The acronym SMART stands for Specific, Measurable, Achievable, Relevant, and Timely, and these five criteria serve as key checkpoints when reflecting on the success of a project.

For businesses, having well-defined objectives is imperative in creating an effective strategy that will yield results. Additionally, implementing SMART goals into individual productivity provides a roadmap for employees to be accountable.

This ensures resources are invested in areas that offer true value, leading to better decision-making and ultimately more successful outcomes for everyone involved. On a personal level, we can use SMART goals to improve our finances, career, health, relationships, and more.

How to set SMART goals

To refresh, SMART stands for Specific, Measurable, Achievable, Relevant, and Time-Bound. These goals should be detailed and challenging, yet still achievable in order for you to stay motivated. Let’s break down each component:

  • Specific: Being specific ensures that everyone involved knows exactly what needs to be done.
  • Measurable: Keeping your goal measurable helps you track your progress and recognize when it’s completed.
  • Achievable: making it achievable increases your chances of reaching it.
  • Relevant: ensuring the goal is relevant keeps it focused on the overall mission or vision.
  • Time-bound: being time-bound provides a timeline by which the end result should be achieved.

Working towards these gradually actionable targets makes self-improvement an attainable goal rather than an abstract idea that remains on your to-do list indefinitely!

Examples of SMART goals in action

Now that you know what SMART goals are, let’s go over some examples so you can apply them to your own life.

For example, if you are looking to start a profitable online business then your specific goal could be to earn $100,000 in the next twelve months. In this case, you have identified the specific outcome (earn $100K), set a timeline (12 months) and made it measurable as well because you have quantified it with an exact dollar value. Additionally, this goal is attainable when assessed realistically and relevant because having extra money to support yourself is always helpful.

A personal example is losing 50 lbs of weight over the span of the next year. It has a specific outcome and timeline. Losing approximately 1 lb per week is also very achievable. It’s relevant if you value your health and fitness, and is easy to measure every week and month as well.

Think about the different areas of your life where you could apply SMART goals and write them down.

The benefits of SMART goals

SMART goals are important for both businesses and individuals. They help to keep everyone focused on the same objectives, reduce decision-making time, and leave no room for misinterpretation or misunderstanding. These criteria also provide measurable benchmarks that can be used to assess progress as well as identify areas in need of improvement.

Furthermore, did you know that people who write down their goals are 30 times more successful?

Goal setting statistic

Finally, SMART goals help you to stay motivated and committed by providing a clear roadmap for success. With these goals in place, you’ll have a better chance of achieving your desired outcome and living the life you’ve always dreamed of!

Final thoughts on SMART goals

Goal setting is one of the most important parts of being successful on a personal level and in your career or business. However, a lot of people float through life and entrepreneurship without goals. Unsurprisingly, they lack success or consistent growth. Look at goals as a north star that you can consistently travel towards.

SMART goals, specifically, are a fantastic system for creating goals that you can achieve and measure. The acronym stands for specific, measurable, achievable, relevant, and time-bound. Brainstorm where you can apply this system to your life nad track it on a regular basis.

Reach out to me via email or social media if you need want to workshop on your goals.

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