Create SMART Goals For Sustainability

August 2023
Growth is critical for any company for sustainability. Organizations constantly have pressure to break even, grow revenue, and become profitable. Although most may experience slow growth rates and achievements, the company may still need to catch up for sustainability. One way to fast-track growth is to evaluate the creation of company goals, and incorporating SMART goals may be a game changer.

What Are SMART Goals?

Goals give an organization or a company clear focus, motivation, and a road map to the target. It is often motivating to work knowing what you are striving to achieve. However, organizations need to employ the SMART goals model to increase the chances of achieving the set goal. SMART goals involve setting Specific, Measurable, Achievable, Relevant, and Timely goals.
The first step is a well-defined goal that is very specific. The goal should answer the 5 Ws, who, what, when, which, and why. What needs to be accomplished? Who is involved? Which resources are required to achieve the goal? When the goal should be achieved, why it needs to be achieved, and its importance. Once clear, you can break down the aspects contributing to the primary goal. An example of a specific goal is. "Hit the one million revenue target by the year's second half."
What is a goal if you cannot measure it? To make the goal measurable, it must answer how much or how many. It is also essential to define the data to use to determine the achievements of the goal. Continuously assessing the progress helps you stay focused on achieving it.

For example, we must sell 100K hand-crafted bags and sandals to achieve the I million revenue target by the year’s second half.
A goal should stretch the organization's abilities but also be possible to achieve. The numbers should be realistic. Data-driven decisions here will help. For example, it is unrealistic to set a goal to sell 500K bags monthly, yet your data, on your best months, shows you only sell 50k.
The goals should align with the long-term company strategy. It ensures that they contribute to the mission and are still goals under control. To ensure you are setting relevant goals, define the main benefit they bring to the company, which will guide you in making the decision.
Setting a timeline for achieving the goal is vital in helping identify its success or failure. It also helps people stay on track with what they need to do to contribute to the primary goal.

Importance Of SMART Goals

Smart goals give a company's employees direction and focus as what they are expected to achieve and work towards is clearly defined. Clarity brings motivation to achieve the set goals. The employees also get to evaluate their strengths and weaknesses when working on projects, which helps them know where added skills are required. SMART goals help a company achieve faster results and overall satisfaction knowing there is a well-defined road map to achieving most goals.

Creating SMART Goals

SMART goals can be a win for a company when well understood. It is not just about setting the goals but also a thorough evaluation of the company's vision, status, performance, skillsets, and end goal. Setting achievable goals and managing expectations that keep your employees from burnout is essential. Do not wait until there is revenue stagnation or a decline in growth. Be SMART about your business for sustainability.

Schedule a free consultation with us today to discuss setting your business on the path to success!