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Have a S.M.A.R.T. New Year

It’s the official start of a New Year as we step in to 2024 and many businesses are setting plans for 2024 into motion. One way to help ensure a good year is to be S.M.A.R.T. in your goal-setting process.

First introduced in an article by George T. Doran in the November 1981 issue of Management Review, S.M.A.R.T. is a mnemonic acronym that outlines criteria for helping to develop effective goals for an organization or business. Specific, Measurable, Assignable, Realistic, and Time Related/Bound.

According to a Forbes article The Ultimate Guide to S.M.A.R.T. Goals by Kimberlee Leonard and Rob Watts, there are several benefits of utilizing this framework:

  1. “A S.M.A.R.T. goal helps to give you an objective. In doing this, you can identify strengths and weaknesses.
  2. A S.M.A.R.T. goal provides motivation to succeed. When you know where the goal line is, you’ll want to work to meet or beat it.
  3. A good S.M.A.R.T. goal, while attainable, will also be challenging and force you out of your comfort zone."

This isn’t to say there aren’t some drawbacks when utilizing a S.M.A.R.T. goals strategy. Leonard and Watts warn that you can sometimes get so focused on these goals that you may neglect other tasks or operations, so balance is key.

In the end, S.M.A.R.T. can help you stay focused on achieving your goals and help you to have a successful and prosperous new year!