A new year brings a fresh start as well a laundry list of new business goals. January brings new hopes and aspirations for entrepreneurs around the world. Some will succeed while others will fall short of their desired goals. What sets those that succeed apart from those that fail? There are 5 key elements of business goal setting that every business owner needs to master and implement.
5 Elements of Business Goal Setting
The first step in setting your business goals is to be specific. When you draft your goals write them with clear specifics on what exactly you want to accomplish. Rather than generalities be detailed and specific with exactly what you want to accomplish.
For example, a non specific goal such as “Increase page views” is turned into a specific goal when restated as “Increase page views by 10,000”.
How are you going to measure your goal achievement? Your specific goal needs to also include an element of measurement. Using the example above, you could break down your page view goal into smaller segments. For example, “I will increase page views by 5,000 this month.” and can be measured through google analytics or another platform that tracks your page views.
Are your goals within reasonable reach? Do you have processes in place to attain the goals you’ve set? Again using the example above, if you aren’t creating new content or marketing your site you aren’t going to see a significant increase in page views.
Are your goals relevant to your current business model? Setting a goal of 10 new clients when your business doesn’t need client revenue isn’t relevant. Instead, if your goal includes increasing page views you would expect to have a website that earns revenue from ads, sponsored content and the like.
Every goal you set for your business should also include a time based element. You need deadlines for your goals or you will procrastinate indefinitely. Rather than simply stating “Increase page views by 10,000”, you can add a time based element to the goal statement with “Increase page views by 10,000 by March 1st.”. Now you have a definitive deadline for your goals and a timeline with which to operate in executing the steps and tactics needed to accomplish your goal.
If you’ve created a specific, measurable, attainable, relevant, and time-based goal statement you now have a SMART goal. Congratulations!
Ready to take your goal setting a step further and plan out next month’s editorial calendar? This editorial calendar planner is our gift to you because we want to see you succeed.