It’s the beginning of a new year and I’m sure a lot of you have made resolutions to be better people or build better businesses. Well, that’s sweet but I’m not a fan of New Year resolutions. In fact, I think they are designed to fail. Ever wondered why it is so had to keep resolutions after the first few days of the year? It’s simple. Because they are not done the right way. A resolution is basically an intention so when you have an intention with no plan on how to achieve it, you’ll be building castles in the air.
So instead of making resolutions, you should set SMART goals. That’s what this post is about- how to set smart goals that you’ll stick with in 2020. There are many reasons to set goals and I summarized them into the two points below;
- To eliminate distractions, keep you motivated and on track
- To help you organize your time and be more efficient
What Are SMART Goals?
SMART goals are essentially goals have the characteristics listed below. Each letter in the word represents one characteristic.
- S – Specific
- M – Measurable
- A – Attainable
- R – Relevant
- T – Time-bound
Here’s an example of what I mean;
RESOLUTION: save six million from my fashion business this year.
SMART GOAL: I will save five hundred thousand naira every month this year. In order to do this, I will increase my income by cross selling and up selling to my customers and collaborating with other fashion business owners like Desire 1709 Fashion. I will cut down on spending by eating from home at least five times a week and making a budget plan for each month.
From the example above you can see that the difference between a SMART goal and a resolution. The smart goal is more feasible and a serves as a road-map to help you achieve your goal.
Not having SMART goals is why your fashion business will might fail this year. You need a game plan to keep you in check and strategy on point.
With that said, I shared some steps to help you set SMART goals in 2020
HOW TO SET SMART GOALS THAT YOU WILL STICK TO THIS YEAR
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REVIEW THE PAST YEAR:
This is necessary if you want to actually make progress this year. What did you do well, what were you unable to achieve, and what are you going to do differently this year? The answers to these questions will guide you in setting goals for the new year.
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HAVE A BIG PICTURE.
Have a bigger picture. Why do you want to save five million from your business this year? Is it to buy a house, expand your shop? Travel the world? This will give you something to look forward.
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WRITE IT DOWN:
Write down your goals and actions steps you will take to achieve them on a sheet of paper, in your phone, wherever you will be able to quickly access them.
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POST IT WHERE YOU CAN SEE IT EVERY DAY:
After writing these goals, post them where you can see every day. This is in form of a vision board. You could put your big picture where you can see all the time to give you all the motivation you need. If you can see it, you will be more likely stay focused on it.
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GET AN ACCOUNTABILITY PARTNER:
You need an accountability partner. This has to be someone who will encourage you, kindly remind you and keep you in check. It could be a friend, your partner, or your coach- Like Me.
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CONSTANTLY RE-EVALUATE AND UPDATE YOUR GOALS:
You have to keep track of your progress. Review your goals weekly, monthly and quarterly. You must not wait till the end of the year to measure your progress. Note that you might have to update your goals depending on a variety of factors so don’t be rigid.
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REWARD YOURSELF:
Have a set out reward package for when you achieve a small goal or big goal. This will give you something to look forward to.
I hope you found this article helpful. What SMART goals do you have for 2020? Let me know in the comments and hold you accountable!