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Sign into your accountSMART Goals and Why Your Business Needs Them
April 20 2017
Every brokerage owner dreams of success, but far fewer define the goals needed to achieve those dreams. The S.M.A.R.T goal-setting methodology makes it easy to set realistic business goals and achieve them. Read on to learn about the methodology and how it can benefit your firm.
What are S.M.A.R.T. Goals?
S.M.A.R.T goals refers to a goal setting methodology that helps you set clear and reasonable expectations in order to maximize your odds of achieving a goal. Each letter of the acronym identifies an essential component of effective goal setting.
"S" – Specific
Business goals like "make more money" are rarely attained because the goal isn't specific enough to be actionable. You need to identify the driver and desired outcome of the goal.
The easiest way to do this is to ask yourself the five Ws:
- What do you want to achieve?
- Why do you want to achieve this?
- Who is involved?
- Where will this goal take the business?
- When do you plan to accomplish it?
With this approach, you can swap the goal of "making more money" for the specific goal of "finding one new client by the end of the month." This specific goal checks all the five Ws and can actually be implemented.