S.M.A.R.T. Goals

S.M.A.R.T. goal setting and planning is not a concept I developed. It has been a lost science to be very conscious in setting goals. The basics are noted here.

S=Specific.

Ex: I am going to achieve 10% market penetration into the $12.5 billion industry within 5 years through organic sub-segment expansion.

Anti-Ex: We're going to double our size and win many customers giving us great market presence in the focused industries we serve.

M=Measurable.

Ex: We will achieve 30% growth in net margins and 50% in revenue in the next 12-16 months and 100% growth in EBITDA over the next 3 years, while adding no more than 20% % of Net in overhead YoY.

Anti-Ex: We will double our company's revenue while remaining profitable and keeping headcount lean.

A=Actionable.

Ex: We are going to create industry awareness and acquire 200 leads, 50 qualified prospects and 10 80%+ pipeline opportunities with a 4-6 month close rate in the next 12 months through participation in key trade shows, developing 3 cornerstone clients and an integrated, multichannel online marketing strategy.

Anti-Ex: We are going to create 500 leads and over $2m in revenue.

R=Realistic.

Ex: We are going to invest $2.5 million in human capital, marketing and platform development over the next 2 years with a projected BE target of 3-3.5 years, performing a semi-annual review to adjust target ROI and allocation.

Anti-Ex: We are going to quadruple our size every 6 months through aggressive marketing and get bought by Google in 3 years.

T=Timeable.

Ex: We will create 12 new positions over the course of 6 quarters, which 50% will be contract or part-time to allow for minimal overhead.

Anti-Ex: We'll create a couple more positions to accommodate for growth experienced by increased demand in the markets we serve over the next 12-24 months.
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The theme here is quite obvious. Be more comprehensive and don't put big targets into your big plan without a clear path. This is, sadly, not exercised with enough vigor and regularity in many organizations. While it's easier to do things much more non-committal and vague, the returns are less likely and increasingly more frustrating to coalesce a team and pave a tactical plan to success.

While there are numerous subject matter experts on the importance of goals and philosophy of communicating goals to teams to ensure support... hardly enough attention is paid unto the science of creating smart... and S.M.A.R.T. goals.

Go. Be Smart.