For some of you, this will be a reminder of a little acronym your first heard about years ago and for others, it will me the first time.
The acronym SMART has a number of slightly different variations, which can be used to provide a more comprehensive definition for goal setting:
S – specific, significant, stretching
M – measurable, meaningful, motivational
A – agreed upon, attainable, achievable, acceptable, action-oriented
R – realistic, relevant, reasonable, rewarding, results-oriented
T – time-based, timely, tangible, trackable
This provides a broader definition that will help you to be successful in both your business and personal life.
- Well defined
- Clear to anyone that has a basic knowledge of the project
- Know if the goal is obtainable and how far away completion is
- Know when it has been achieved
Agreed Upon (Also Attainable)
- Agreement with all the stakeholders what the goals should be
Realistic (Also Relevant)
- Within the availability of resources, knowledge and time
- Enough time to achieve the goal
- Not too much time, which can affect project performance
- Specific completion date
5 Quick Tips for Setting Powerful Goals
Think about which area of the business you want to focus on for this exercise. Let’s choose sales. We’ll get even more specific – restoration sales to agents and adjusters.
A weak (Not SMART) goal might sound like: Generate more revenue through agents and adjusters.
A SMART goal version of this goal is: Generate $100k or more through new agent and adjuster relationships by 12/31/2020
Metrics: $30k Agents/$70k Adjusters
Milestones: Agents ($5k/month over next 6 months) Adjusters ($12k/month over next 6 months)
Steps Required: Agents (similar exercise for adjusters is needed)
- Get agent name on every job
- Call agent to introduce your company on day 1
- Email agent a 24 hour update
- Hand deliver a copy of your COS with customer comments
- Ask for referrals
- Add agent to email marketing list
Who is accountable for each step? Could be one or more people.
How is progress communicated? Weekly meeting/create simple tracking sheet
Scott Miller has been in the restoration industry since 2005 and focuses on helping owners grow revenue, improve profitability, manage cash-flow and develop a culture of accountability with their teams. He is a certified coach with Best Year Yet and The Center for Executive Coaching.
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