A SMART goal is one that is Specific, Measurable, Attainable, Realistic, and Timely.
- Specific means that the goal is clearly defined,
- Measurable means that a clear picture of the outcome exists,
- Attainable means that the goal is reachable,
- Realistic means that the goal falls within the scope of what you and your team can accomplish.
- Timely means you have set aside enough time to achieve the goal.
Note that some companies define the “A” in SMART goals as “agreed upon.”
As a small business owner, you can use SMART goals to manage short and long-term projects, and to ensure your company stays focused on its mission. You can also encourage your employees to create professional SMART goals and use their goals as a guide when conducting performance reviews.