Happy New Year!
“I am going to lose weight & get in shape.”
“I will be more organized this year.”
“I plan to spend less and save more.”
Sound familiar? These are all examples of common New Year’s resolutions millions of us set every year. Despite our best intentions, 80% of us fail by the second week of February. (Source)
What about your business New Year’s resolutions? For example, just like in our personal lives, we begin the year with a renewed excitement and passion. However, when the daily workload reaches capacity, it is easy for us to slide those business goals to the back burner where they tend to get forgotten. Therefore, start this year off right by setting SMART goals which are designed to help set you up for success.
What are SMART Goals?
SMART is an acronym for a goal-setting framework that establishes a solid foundation designed to improve success rates in achieving goals. SMART goals are:
- SPECIFIC – the goal is well defined and detailed. As a result, the more narrowly defined the goal is, the easier it will be to lay out a step-by-step plan to achieve it.
- MEASURABLE – the goal can be quantified to track your progress and determine metrics for success. For instance, think about how you will measure success when you create your goal and if possible, set milestones by breaking the overall goal into smaller pieces. When a milestone is achieved, celebrate the success.
- ATTAINABLE – the goal is realistic, and the resources (time, money, people) are available to achieve it. By doing so, you’ll set yourself up for success by creating achievable goals.
- RELEVANT – the goal is aligned with your company’s overarching vision. Above all, understanding the “why” behind your goals and how they fit into your organizations’ long term plan will help sustain motivation to achieve it.
- TIME SPECIFIC – the goal has a specific time frame with a clear completion date. In other words, a concrete timeline will assist prioritization of goals and provide a sense of urgency to complete tasks necessary to fulfill goal requirements.
How to Keep Your Business New Year’s Resolutions
Once your organization’s goals have been developed using the SMART goal setting framework, the next step is to design the roadmap for your company to achieve those goals. Follow the steps below to set up your team for success in 2021 and beyond:
- Document your goals. Take the time to write your goals down so you and your team can refer to them regularly.
- Share with your team. If the entire team is aware of and bought into the company goals, the greater the likelihood they will be motivated in achieving them.
- “Many hands make the workload light.” Trust your team to own certain goals or specific tasks to improve team productivity and improve your work/life balance.
- Create accountability. Meet as a team to measure progress on the goals. If possible, break large goals into manageable tasks with measurable milestone project markers.
- Celebrate successes! It is important to take time to acknowledge team wins. Celebrations increase employee engagement, boost morale, and strengthen team connectivity.
Looking for Guidance?
Most importantly, let us help you reach your Business New Year’s Resolution this year. Our business consultant, Brenda, works with small to mid-sized businesses to implement simple business tools to align your team and integrate all segments of your business. Feel free to contact us at 952.279.2424 or online to set up a meeting!