How SMART Are You?

By Doug McElhaney Business Consultant, Small Business Development Center, University of Georgia at Clayton State University

In today’s fast paced business environment, doing more with less seems to be the norm. Many projects or goals are not completed due to time, energy and organization. However, it is important to keep projects and goals on track. One tool I use when completing goals is SMART. SMART stands for Specific, Measurable, Attainable, Realistic and Timetable. An example of a SMART goal for a retailer, would be:

The goal is to increase children’s clothing sales by 10 percent over the next 90 days.

So, is my goal SMART?

• Specific- Increase children’s clothing sales, yes.

• Measurable- A 10 percent increase, yes.

• Attainable- 10 percent growth is possible, yes.

• Realistic- The growth rate is a

realistic number, yes.

• Timetable- A 90-day goal has been set, yes.

The SMART tool helps the organization stay on track. Many goals and projects are not completed because the scope is too broad and unclear. When beginning a project, there are always limited amounts of resources, time and energy. The SMART tool keeps information and goals clear and attainable. When goals and projects are not clear and attainable, the employee could become frustrated and lose focus and motivation. Therefore, causing failure.

Studies show approximately 40 percent of all projects fail due to numerous reasons. However, I am a firm believer that when goals have a timetable and are measured, completion is inevitable. The adage, “What gets measured gets managed,” is true. Part of measuring success is being able to see how far the organization has come before the goal or project was implemented. Putting a timetable on projects sets expectations and allows others to manage resources.

In closing, it is important to keep projects, objectives and goals simple and SMART. Use the SMART tool and success can be right around the corner. If an organization is to continue grow and be successful, objectives must be identified and met. So, how SMART are you? For additional assistance, feel free to contact UGA Small Business Development Center at Clayton State University.