As an entrepreneur, being intentional about setting goals is key to measuring progress and ensuring your business endeavors are staying on track. However, when dealing with a newly established business, it can be tough to know where to begin with setting reasonable and achievable goals. Below, we’ll explore some principles to keep in mind and guide your goal-setting process.
Use the SMART Goals Model
If you’ve ever done any professional goal-setting before, you’re probably familiar with the SMART goals model. The acronym stands for specific, measurable, achievable, realistic, and time-bound. The general principle is to make goals that aren’t vague or unrealistic and have a “due date” of sorts. Rather than a nonspecific goal such as, “we want to improve our digital marketing strategy,” using the SMART goals strategy will look more like this: “We want to be generating 25% more leads with our digital marketing strategy by the end of next year.” The second example is specific about what you want to achieve, measurable since it gives a specific numerical value, achievable and realistic based on your past performance and your current plans, and time-bound since you set a goal date.
Focus on More Than Numbers
While it is imperative to set measurable, numeric goals for your business, make sure you think about your goals as a more general vision for your business as well. Getting caught up in the numbers can make goals feel overwhelming and technical. Think of your goals as steps to building your vision and mission–they might be numbers and metrics, but ultimately those numbers and metrics will add up to the business you’ve been dreaming about.
Invite Others to Help
Don’t try to tackle all of your goals on your own. As part of setting a plan for achieving your goals, ask yourself who is best equipped to help you work towards them. Who can you delegate tasks to or hold you accountable and help you rework goals in the future? You can’t do entrepreneurship alone; every successful business enterprise has a team of supporters, employees, and mentors behind it.
With these principles in mind, set yourself some goals for 2022! Following these tips, you will be well on your way to growing your business and fulfilling your vision.
Doaa Dashoush is an experienced businesswoman in the fashion industry. She currently serves as the President and CEO of GFASHION, a global luxury brand currently based in New York City. GFASHION prides themselves on their unique approach to the industry. They don’t follow trends set by others. The Luxury brand focuses on innovative design through their work with the top designers on collections that reflect the company’s craftsmanship.