SMART-Method

You might have heard or use SMART-method before. But I still find it fascinating because of it’s significant in business and private lives. People have also use it for different reasons, and understand it differently. In our daily lives, we use it. For example, saying “I have a doctor’s appointment five o’clock” is a way of using the method.

When it comes to business it is much more complex than that. An entrepreneur has to be specific, but the stress lies in achievable (we must plan and execute to prove this capabilities). That is why I want to discuss the helpful method.

Specific is the place to state our objectives. They are necessarily incorporated for the business to know the way forward. It specifically know what you planned to do, including your goals within short and long period of time. This has to be specific, because it determine your chances of success. For example, aiming to run a business within two months does not fit in.

But aiming to have a company that manufactures processors for computers and other technological devices within a year is a specific goal. This might seems big and others have already established themselves in the branch. The fact is, you are in business for the excitement.

Measurable is designed for knowing measurement of the specific goal we’ve stated. One way to have a measurable specific goal is to divide the objectives into pieces that will respectively be achieved over time. Using the business of process manufacturers, the pieces would be things like legal, marketing, partnership, manufacturing, distribution and sales.

The legal will be accomplished within a month, manufacturing within 3 months, and so on. We can measure how we are doing with the process, and accomplish respective piece before the deadline. This allows us to actually measure what we are doing. If it is going according to plans, then you can measure how it goes.

Achievable is suitable. I love to call it analysis because it is where we see if the goal is achievable. For example saying we will have already started the business within a week does not sound achievable. It will requires significant amount of preparation to know what we are getting ourselves into. The achievability of a specific goal depends on the time, and capabilities.

Aiming to sell one million products within 6 months without a product is not achievable. We have to know that we can achieve it, which depends on how we wants it. For your specified goals to be achievable, ask yourself how you will do it.

Realistic has been the most challenging part. People mostly have issues with a new idea. They will try to argue the unrealistic of your plan. Using the same example as running a processor manufacturing company, challenges emerge when you present it to the first group. They will be pessimistic about it. They would argue that the business will not be profitable or leads to success.

This is where you really need to “trust yourself”. It is challenging, because people argues that biggest idea sounds crazy – or insane – to people. For it to be realistic, you have to see it. Seeing it means knowing how it will be realistic to do what you want. Sometimes, we have to be very problematic in order to define realistic of the goals. Other people do what we do, but things differentiates us from one another. The main point of realistic goals are for you to have realistic vision to it. Send positive feeling, and you’d have positive result.

Time-bound verifies realistic accomplishment of the goals. It drives the consistency, because they know that time determines it. Following the example of manufacturing processors, we need to choose appropriate time. It can’t be accomplished within 6 months, unless we have already done most of the work. It includes creating a prototype, and a lot of things can happen in the process.

I’ve heard stories of things going wrong in the mass production process. It is where we know that time matters to everything we do. Timing the process must corresponds with measurability, achievability, realistic and what we plan to achieve. You have to give yourself time to process everything. In conclusion, a SMART-method is used most of the time.

It is the perfect method to signify the importance of knowing the destination within a specific timeframe. We have to be specific to know what we want. Then we have to measure how we are doing it, know how to achieve it, ensure it’s realistic with trusting yourself and give it the time it needs to succeed.Because your business is like an infant.