According to small business consulting services, good goals must be measurable. There’s a big difference between stating that you want to make a lot of money and saying you want to book $20,000 in new business in the next quarter. The reason—you can measure $20,000, but you can’t measure a lot.
Qualities of a Good Goal
When small business consulting services help owners and managers create objectives, the experts make sure the goals meet certain criteria. The most popular way to do this is to verify if the goal is S.M.A.R.T.: specific, measurable, attainable, realistic and timely. While each quality is important on its own, you cannot measure a goal without the remaining four qualities:
- Specific: You need to include details about the goal so you can measure your progress.
- Attainable: Making a goal “do-able” sets you up for success.
- Realistic: Unrealistic goals can be difficult to measure. Use the help of small business consulting services to help you decide how high your goal should be.
- Timely: Without establishing a time frame for a goal, it’s harder measure your progress toward achieving it (and remain motivated).
Measurable Components of a Small Business Goal
Small business consulting services can help you tailor your objectives to your specific need and industry. While the process of creating, planning and achieving personal and business goals are similar, there are components that you can add to make a goal more successful. These components can include:
- Cost: It’s never a bad thing to operate efficiently. Setting a budget can help you determine how attainable or realistic a goal really is.
- Product or service performance: If you sell a product or service, creating performance factors can help you measure the benefits to your customers.
- Quality: Surveys can help you determine if your products or services meet the standards set by your customers.
- Revenue and profits: The bottom line is a good indicator of a goal’s success and can indicate the need for change or reassessment.
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