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Setting Smart Goals

Setting Smart goals for Monday motivation.

When goal setting whatever that goal is for, you must ensure that you are not just enjoying the process of goal setting while talking about it is important.  Writing it down is important but the most important part is in the action of accomplishing or taking steps to accomplish the goal and setting smart goals is the key.

Some people are always talking about what they want when “x” happens when the get a better job when they win lotto or when they get the promotion or when the kids have grown up. You get the idea.  Then there are the people who are less vocal but make the decision to act.  Such a small word with such meaning.  Because without action you don’t achieve anything.

So I came across this clip below which helps those people in the former group realise how to take their goals from the going to do into the action group.  It also is a great tool for managers in communicating requests to staff to motivate and be more time efficient.

The concept explained by Edward Muzio of Group Harmonics, follows the S.M.A.R.T rule

S. Be SPECIFIC in your request or goal narrow down what it is you are after so you know what you are striving for

M. Measurable – make sure that the goal is MEASURABLE so you know when you have reached it. Like I would like to achieve $10,000 in blue chip shares with a minimum of 5% return of dividends by then end of the year.  You know there are 42 weeks left, so you will need to invest or save ready to invest roughly $240.00 a week to achieve your goal.  You can now measure your success based on the savings being put away each week.  Not only does this give regular positive enforcement as you are accomplishing a small part of your larger goal each week it is easily measurable that you are on track.

A. Attainable – make sure your goal is ATTAINABLE.  So if you know at the present time you only have $100 spare cash a week there is no use setting the above target as you will set yourself to fail.  It is a possibility that you can look for other ways to improve your financial situation to make extra income to achieve your goal but set aside the time to do that. This is where setting smart goals is important or vital to your success.

R. Relevant – Where are you focusing your time.  Are you getting the right advice from the right people?  Is the goal you wish to achieve RELEVANT to your plan.  There are many ways to look at this area depending on your situation.  Keep your goals RELEVANT to your financial plan it is important to revise your financial plan regularly and ensure your efforts are being directed to relevant activities in achieving them.

T. Time Based – writing goals down is important. You feel more accountable and you are reminded of what you are trying to achieve.  An important part of achieving your goals is setting time frames in which to achieve them.  By setting the clock or making your goals TIME BASED you are giving yourself direction, making yourself accountable and providing a firm guideline to follow.  You will then have a clear idea on how you are progressing and when you have achieved your goal.

Whatever your goal is (as everyone has a different plan) I believe the above principles will help you set more realistic goals and therefore achieve them.

 

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