What Are SMART Goals?

• October 08, 2019
• Pamela Lewerenz

People struggle with setting goals. It can seem like a daunting task largely due to the lack of proper knowledge of how to set SMART goals and not having an accountability partner or a coach to support them through the process..

This may be the reason why the late management consultant, Peter Drucker, came up with a system as part of his Management By Objectives (MBO). This system is essentially the SMART Goal setting system. If you are not familiar with SMART, it is an acronym that stands for

• Specific
• Measurable
• Achievable
• Realistic
• Time-bound

Each component deals with a part of goal setting that is essential for goals to not only be set, but to be successfully reached. Some have interpreted the letters in different ways, which is completely okay if you are using the acronym for your own purposes. Use what makes the most sense and what works best for you.

SMART Goal 5 Step System

To have a specific goal, imagine creating a video in which you are explaining to the viewers what your goal is about. They should be able to comprehend your goal without any questions or concerns. The more specific you can get, the better the overall goal setting process will be for you.

Step 1. Specific Goal

Let’s set a specific goal that you will seek out 2 new clients using your connections through LinkedIn, by reaching out to them through personal messages and offering them an opportunity to see your brilliance at work via a free 30-minute consultation. Once you decide on your overall goals, the next step is to understand how to measure them. General goals will be difficult to measure, whereas specific goals will be easier. This is the part that can help you be accountable for meeting your goals. 

Step 2. Measurable Goals

Then, you will reach out to 300 connections within 30 days with a personalized message, asking for them to respond to your request. For a goal to be achievable, you should make it so that you are pushed outside of your comfort zone and feel challenged, but not stressed.

Step 3. Achievable Goals

Then, you will perfect an elevator pitch and make sure to have a formal list of services that you can share with your connections. Your goals should be realistic. People often get overzealous when setting their goals, they believe they should push themselves. Non-realistic goals can actually instead, frustrate you and set you up for failure from the start. Of course, you don’t want to set goals that are so easy you don’t see any growth at all. Be sure to maintain the best balance you can by utilizing support and tools around you.

Step 4. Realistic Goals

Then, you should meet with an accountability partner each morning before reaching out to your LinkedIn connections, and further support your efforts by creating a positive affirmation of “I humbly honor my strengths, abilities, and gifts and I commit to sharing them with my connections.” You need to set time frames for your goals. If your goal doesn’t have a time frame, you are likely to come up with excuses to push them off, and you will never get them completed. The best way to do this is to break up your goals into manageable chunks (smaller goals), and then come up with tasks for each of those.

Step 5. Time-bound Goals

Now that you've decided you have 30 days in which to reach out to 300 connections, you must add 30 minutes to your daily schedule in which to make 10 connections per day.

Goals, Growth and Support

Using the SMART Goal framework that I’ve outlined above is a great way to start creating goals that will make a long term, positive difference in your entrepreneurial journey. Keep in mind that you should expand your goals for your business as you and your business grow. Also, getting support along the way is key to not only setting, but achieving your goals. If you’re looking for free resources to help with goal setting, you can find many in this article I wrote.

For reference on how specific you should be- you should be able to explain your goal to a friend in a way where they don’t need much explanation of your concept. If you find they have a ton of questions or need clarification, this is an indication that further refinement of your SMART goals is needed. For more information on goals or to grab a free SMART Goal workbook, feel free to visit our SMART Goal Workbook.

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