Team Alpha 375

What are your goals for the new year?

A Business Perspective
By Ray Silverstein

If you’re like most of the business community, 2010 represents a welcome opportunity to turn the page. Needless to say, we all hope that the new year will usher in brighter days.

However, hoping and wishing are not enough. It generally works out much better if you also do something. Like figuring out what you want to accomplish this year and determine how you will make it happen.

In other words, do some serious goal setting.

Here’s the secret to effective goal setting: regardless of your goal, there’s only one way to achieve it, and that is to create a practical, step-by-step action plan.

You probably already know what you want, in sweeping terms. Now, frame it in concrete, measurable terms. Studies show that when businesspeople set measurable goals, they are more likely to attain them. That means not just describing your objective, but identifying the resources, time and dollars you’ll need to invest in order to achieve it.

It’s a step-by-step process.

Step 1: Get it in writing
It’s common knowledge that every organization, regardless of size, should have a business plan, marketing plan, sales plan and financial plan. You’ll note the common word in all this activity is “plan.” Goals are nothing more than what you plan to accomplish.

Now, record your goals in writing and start filling in the blanks between Point A—where you are today—and Point Z—where you want to be. What will it take to get you there?

The act of capturing your ideas on paper, or in a PC file, will force you to think in concrete terms. It will also spark additional ideas; write them down as they come to you. This is the birth of your action plan.

Step 2: Assign due dates
Break your plan down into baby steps, then assign a realistic due date to each step. Determine how you can measure your progress each step of the way. These measurements are your reality check.

Step 3: Define your investment
How much will each step cost, in terms of dollars, time, research and energy? Can you delegate certain steps to your employees? What resources can you draw from, and what additional resources will you need to acquire?

By following these steps, you’ll eventually have a complete action plan. Don’t tuck it out of sight in a drawer; keep it where you can refer to it. Make regular appointments with yourself to ensure you stay on track. Is there someone with whom you can share it? Accountability can make an enormous impact.

Remember, your action plan is a work in progress. Give yourself permission to make changes as you go. That’s okay. It means you’re working on it.

Set SMART goals
If you haven’t set formal goals before, try using the SMART goal-setting format. With this process, goals should be:

S – Specific
M – Measurable
A – Achievable
R – Realistic
T – Timely

In other words, state what you want. It must be something achievable. Frame it in a way that allows you to measure your activity. And include a goal date, or a time period in which you’ll accomplish it.

Whatever you do, steer clear of BHAGS: “Big, Hairy, Audacious Goals.” Focus on close-in goals that you can attain in the course of a year or less, right now, under current economic conditions and using current resources. Otherwise, you may be overwhelmed and if you fail to plan, you plan to fail.

Remember, goals are a lot like elephants, and there’s only way to eat an elephant: one bite at a time.