How to Set Short and Long Term Business Goals

Climbing to reach a goal

Reach for your goal

You’ve probably heard the old adage many times, “”If you fail to plan, you can plan to fail,”. For any business to succeed, you need to have very specific plans and they can and will be revised over time as things change, but you need to start somewhere. In addition, you need several types of goals that are SMART. Namely, specific; measurable; attainable; realistic and timely.

  1. Specific. Make sure you are very specific about what you want to achieve. You need to answer five questions:
    • What: What is it that you want to achieve?
    • Why: The benefits of achieving this goal.
    • Who: Who will be involved in the tasks needed to achieve this goal?
    • Where: Identify the setting.

      Use a measure

      Measure your progress

    • Which: What are the requirements for, and constraints on, working toward this goal?
  1. Measureable. How will you know whether you have achieved your goal? You need criteria for measuring progress; and measuring progress will helpkeep your sights on the goal.
  2. Attainable. Create a step-by-step plan for achieving the goal. In theory, setting an attainable goal enables you to identify opportunities to bring you close to reaching that goal.
  3. Realistic. When a goal is realistic you are able and willing to work toward achieving it.
  4. Time

    Make your goal timely

    Timely. Put a timeframe around your goal. This will set your unconscious mind at work to attain that goal. Having a time frame helps prevent the goal being left behind by day-t0-day “firefighting

Your goals define your roadmap to your success. Every successful business person goes through the process of defining goals not only yearly, but monthly and weekly as well. Setting and meeting long term; short term, and immediate goals will show you just how much you are achieving as well as keeping you motivated.

 

Terence Kierans CAVB (Certified Australian Virtual Business)
Principal, Cyberspace Virtual Services
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