As an Entrepreneur, it is important to choose appropriate and well-defined goals. The best way to do this is by creating SMART goals. SMART is an acronym that stands for: Specific, Measurable, Actionable, Realistic, and Time-specific.
Specific – As an entrepreneur, your goal needs to be specific or there’s no way to know whether you’ve achieved it. It should not be vague like “spread brand awareness.” You need to choose an indicator that tells you exactly how far you’ve spread your brand.
Measurable – Wherever possible, make it measurable and lay out the numbers. Rather than saying you want to increase your profits which is not specific, you want to earn a certain dollar amount per month/year, etc.
Actionable – Entrepreneurs should choose a goal that you can be broken down into actionable steps to achieve.
Realistic – Your goals should be challenging, but should also be realistic. Make sure each goal is something you could achieve if you put forth the
effort. If your goal is unrealistic, you’re setting yourself up for failure (however goals can change later if you find you’ve chosen one that’s unreasonable).
Time-specific – Choose a specific deadline for when you want your goal to be achieved. This will help keep you on track. Do the same for all of your smaller goals and milestones (although goals can be tweaked later if you find you’ve chosen one that’s unreasonable).