Recently I have talked to a few people who are upset with the progress of their business. After talking with them about their goals and progress towards goals, I realized that part of the problem is they don’t have SMART goals. Their goals are more like dreams.
We can all dream but if you want to use your goals as a roadmap to success you have to invest a bit more time into creating smart goals.
You need to know what you’re aiming for, plan and simple. Sort of like a road map. You also need to know when you can reasonably achieve your goal. What is your target?
It’s important to have that focused block of time established to get your work done. Not while watching TV or listening to a baseball game.
Depending on how many focused blocks of time you can carve out each week will be a determining factor in how much time you have to invest and how much money you can make.
I highly recommend you write down your goals for your business and for any projects you are working on. You are more likely to make progress on your goals when you’ve written them down!
Use the SMART goal format to construct a goal you can act on today…
S: Specific – What exactly do you want? Be detailed.
M: Measurable – How will you measure success?
A: Actionable – To meet this goal, I will do what?
R: Realistic – To meet this goal I will do something and that will create or earn what?
T: Time-bound – What is the time frame?
Using the SMART goal format, you can use a side hustle to tackle mortgage debt…
Specific: I want to pay off my business debt.
Measurable: I want to pay off my $100,000 debt.
Actionable: I want to pay off my $100,000 business debt by working an extra 10 hours each week.
Realistic: I want to pay off my $100,000 business debt by working an extra 10 hours each week making $75 per hour.
Time-bound: I want to pay off my $100,000 business debt in less than 3 years by working an extra 10 hours each week making $75 per hour.
You could be a couple of months or a couple of years from achieving your goals. Tracking the progress you make on your SMART goal will help you stay motivated, week after week.
Whatever visual you decide to use or create, put that visual in a location where you will look at daily…like your fridge! You want a constant reminder of what you’re working toward.