Janna's Blog Article

Apr 19, 2013

WHY WRITTEN GOALS ARE SO IMPORTANT?


Category:Success In Business Management Leadership Family Business Executive Coaching Entrepreneur Business Management Business Coaching Business General 
Posted by: actionjanna

Have you ever wondered what percentage of the wealthy actually wrote out goals, created a plan of action and diligently followed their plan through to completion?

Goals are like a little compass in your mind. They keep you going the right direction. Once your brain knows where it’s going, it has a better chance of actually getting you to your destination. But not just any goals will work; you need SMART Goals.

SMART Goals are:

  • Specific
  • Attainable
  • Measurable
  • Time-based

Specific: Saying that you want to increase revenue in your business is an ambiguous goal, but it’s not a specific one.  A specific goal is one that states you want to increase revenue by five percent this fiscal quarter by engaging in newspaper advertising.

Attainable: An attainable goal is something you can actually achieve; it is within your ability to accomplish within the time you allotted and within the framework specified. It’s a goal that won’t make you work eighteen hours a day, but it will be a challenge to reach.

Measurable: A measurable goal is one that is clearly visible; you know what you need to do and how to evaluate if you accomplished your mission or not.  More importantly, your clients will also see or experience the benefit of you reaching your goal. Customers know when you’ve worked to improve your business and it often creates sense of loyalty within them.

Time-based: You need to accomplish your goal in a reasonable amount of time. For example, it shouldn’t take six months to add a phone line. If it does, you are either procrastinating or you need to find a new phone company!  Establish when you want the goal completed and state a date or that you want it done tomorrow, next week, next month, etc.

When making plans, set goals using the SMART Goal system. Where do you see your business in 90 days? How about six months? Six years? Do you see yourself twice as big, or do you see yourself as twice as small? What goals need to be established to reach your business plans?

Why is it important to make goals? Why does this matter? Why go “goals digging”? An MBA survey a group of students compared their wealth over a span of 25 years. Of the students participating in the survey, 70% had no goals at all, 27% had verbal goals, and 3% had written goals. The last 3% had 98% of the wealth of the group. Now the question is, “When are you going to start planning out your own goals? Will you start today?”

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