Starting New Year with Smart Business Goals
Nothing embodies a brand New Year more than the required resolution list does. We find it so exciting to plan and to set goals only to realize that these goals are hard to achieve. While others may have kept their New Year’s resolution to a hilt, many have also failed.
In field service management, how do we write business goals and make them achievable?
Setting business goals for 2019 needs to be SMART, an acronym derived from George T. Doran’s 1981 published paper, “There’s a S.M.A.R.T. Way to Write Management’s Goals and Objectives.”
S-pecific M-easurable A-ssignable R-ealistic T-ime-based
While the idea is not new, a fresh spin on how we can apply it in our New Year’s list is something to ponder on.
Goals must be written down in the most detailed way. The most notable example would be giving a specific number when you wish to increase profit, or followers on your business page. Here’s an example, “Our company will have a 30% increase in the net profit every month” or “I will build a following of 10,000 on Facebook before the year ends.”
Measurable objectives may mean the completion of projects, company milestones regarding productivity, the volume of repeat customers or even acquiring software as a service. In businesses, the metrics may vary, but it is important that business owners and managers know which appropriate tools to use when measuring or keeping track of progress.
Know the key persons who will be involved. This could be anywhere from assigning tasks or listing down key people or team to complete the goal.
Setting goals must be realistic. In order for a goal to be realized, there’s always stories of perseverance, patience, and discipline behind it. Important keys are planning and continuous learning. Building on what you know and challenging yourself keep things realistic as well as achievable.
The time element in setting business goals not only makes it specific and measurable but also a smart way to plan and create strategies. Workloads and tasks are given a reasonable time frame to be done. Without setting the time in your goal, it is impossible to measure its success rate.
Starting 2019 with these smart goals benefits field service companies regarding scaling up or simply going up to the next level. Asking the question, “How can our company do it better?” will also be a perfect avenue to be open to innovation and not be afraid to take risks. Why not write the SMART list and start the New Year right?