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Sharing Economy / Gig Economy Why Setting SMART Goals Will Make Your Company Successful
Every company has the same goal – to be successful. But this is a beautifully vague goal. How do you actually achieve success? It’s all about setting SMART goals.
Goals that utilize the S-M-A-R-T goals model help employees, teams, and the entire company stay focused on the end result. SMART goals helps to define specific and tangible short term and long term objectives that must be reached. These stepping stones create the pathway to success.
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S-M-A-R-T is an acronym that stands for:
- S – Specific – Clarify exactly what you want to accomplish. Answer: Who? What? Where? When? Why?
- M – Measurable – Define how success will be achieved. What metrics will show that you have achieved the goal?
- A – Achievable & Agreed Upon – Ensure that you have the skills and resources to accomplish the goals. Is everyone on the same page? What do you need to make this goal possible?
- R – Realistic & Relevant – Align goals with the company’s bigger projects and missions. How does this goal relate to your products, clients, and business?
- T – Timeframe – Set a timeframe for accomplishing these goals. Define target dates where you will sample and measure progress. Dates also create a sense of urgency which can motivate your team.
Can you see why setting SMART goals is important? Check out the difference between a vague goal and a SMART goal:
- Improve guest satisfaction VS. Obtain 95% guest satisfaction rate from hotel surveys for the month of December.
- Develop social media presence VS. Get 1000 new Facebook fans, 250 new Instagram followers, and 750 new Twitter followers through strategic social media posts by end of calendar year.
By setting SMART Goals you will motivate your employees to achieve specific things in a timely manner. Once you determine what your SMART goals are, write them down and make a plan on how you will achieve them. Hang them in an obvious place where your team can see them on a daily basis.
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When setting SMART goals, focus on your main objectives. If you create too many goals, it’s easy to lose track and it’s hard to track your accomplishments. When you reach your goal be sure to celebrate your successes.
Setting SMART goals will change everything.
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