Setting goals is an important activity that everyone should engage in to achieve growth and development. In setting our goals, we should think critically on the type of goals we set to avoid disappointment which can reduce one’s morale to develop.
We should make sure the goals we are setting are ours and are not as a result of the influence of another party.
One should also have a reason for setting the goals and the goals set should be encouraging to engage in, because if they are boring, then one might lose interest in developing the goal.
When the goal is set, one should be able to visualize himself enjoying the benefits from the target after the specified time has elapsed, to avoid engaging in unachievable ventures (Robbins & Coulter, 2009)
In setting goals, we should have a method or some kind of approach to enable one to choose fruitful goals. The best method of goal setting is the SMART goal setting process. The acronym stands for:
S-Specific
M-Measurable
A-Attainable, but challenging
R-Rewarding
T-Timely
This model can be used to set any type of goals, and whether personal or professional they are all achievable. For example, I would like to set a specific goal which is opening a new branch for my fashion business, and I expect to be worth half a million dollars by the end of this year.
T hat is not enough to set a specific goal; hence I should set a measurement to determine my success in the undertaking.
I should be able to measure the operations of the new branch to determine my progress. Measuring the goal would entail taking into account all the sales, costs and revenues from the new branch.
My goal should also be attainable in that; it should be easy to achieve and manage to avoid discouragement, but they should not be too easy to achieve otherwise that would be wastage of resources and time.
However, our goals should not be complicated or set to a very high mark that is not realistic.
In setting my goal I considered that it took me a year and a half to achieve a half a million worth business in my first venture hence now that am more experienced, I should be able to achieve that in a year if all other things remain constant (Robbins & Coulter, 2009).
One should also be able to predict whether the goal will be achievable through measurement and if it appears otherwise, then the strategies used should be changed. Goals set should also be rewarding; they should yield benefits or revenues.
This is the main reason for setting goals, and hence one should evaluate the progress of the venture.
Rewards depend on the type of goal, or venture one is involved in, and for my purpose, I should be able to determine the revenues of my new parlor to know whether am making profits and how I can to make the profits more so that the business can expand more.
The achievement of goals should be timely, and this involves setting deadlines or a time frame in which the goals should be achieved. Otherwise one can spend too much time on one venture instead of using that time to perform other activities.
The time frame will also be determined by the type of goals set; for example, one can not expect to lose weight in two weeks nor can you wait for five years without any change in the weight.
My goal is business oriented, and in setting the time frame, I should consider all eventualities that characterize the fashion market and also consider previous experience; my time frame is one year. The approach is very effective because it is easy to analyze, logical and applicable.
Once we have set the goals we need to make plans on how to achieve them and planning can be managerial or operational; managerial planning is done by the managers and in my case am obligated to do that, while the operational planning involves the first level managers and who are not present in my business because it is not very big to have such employees hence I and the sales staff will do that since they are the only employees.
We should always set well-written goals for easy planning of their implementation.
In planning developing plans to pursue a goal, we should always consider the level of the business the environmental uncertainties and any other future commitment because this is some of the major factors that are likely to influence the implementation of our plans (Robbins & Coulter, 2009)
In making good goals we should review the mission of the organization, in this case, the business, we should also consider the available resources required for the implementation of the goals and finally other people that will be involved in its implementation should also be involved in setting the goal.
Goal setting is very important to achieve success hence the need for proper planning, implementation, and evaluation of our goals. By using the smart approach, one will always stay motivated to achieve the goals and is less likely to fail.
The approach encourages creativity and allows for flexibility hence enables you to work at your pace and capacity while still keeping you alert. It is a good method and very recommendable especially for in setting business goals.
Reference list
Robbins, J & Coulter, M. (2009) Management, New Jersey: Prentice Hall.