Welcome to this weeks’ episode of The Australian Small Business Show.
In today’s episode we are talking about setting your goals and intentions for 2025.
Specifically today, we unpack the SMART goal setting framework. SMART is an acronym and here is the breakdown of how to create SMART goals:
- Specific: Your goals needs to be specific, this means you need to clearly define what you want to achieve. This might be increase revenue by 10%, secure 5 new high ticket clients who spend at least $50k each in the calendar year, help 50 new people, hire 5 new sales staff – it can be anything, but it must be specific.
- Measurable: You need to be able to measure your goal, so set criteria to track progress. Take the increase revenue by 10% example – that’s measurable, and you could break that down so that you can see how you are tracking towards that on a monthly basis.
- Attainable: Whilst we love a lofty goal, and may have set a few ourselves in the past, it’s important to ensure your goals are realistic and achievable. It also needs to be something you have the control to action.
- Relevant: It’s critical to align goals with your broader business objectives. There is no point chasing a goal that doesn’t align with the bigger picture of what you want to achieve long term.
- Time-bound: This is essential, do you want to get this done this week, this month, or this year. There needs to be a date on any good goal.
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* Disclaimer: The information shared on The Australian Small Business Show is general in nature and does not constitute professional advice, legal or otherwise. We recommend consulting with your advisors on your specific circumstances.
