The Anatomy of a Goal

At Profitable Growth Partners, we believe setting goals is a key component to a sucessful business, so why do they seem so daunting? Often, the threat of failure is so intimidating that it’s easier to not make any at all.

Whatever the reason, a simple anatomy lesson in the basic parts of a goal can help make them more doable.

The following are characteristics to include when setting goals:

• Specific. Clearly define the plan of action. If your goal is vague, you won’t know where to begin or what direction to go. For example, a goal such as “increase company profit” may be what you want, but it doesn’t prompt you to do anything because you don’t know what to do. Instead, try something like “increase sales by 15 percent in the next six months and reduce paper costs.”
• Written. Writing clarifies thinking and makes things feel more permanent. By writing your intent you’re invested more into it and will be more committed.
  Dated. Without a time deadline, there’s no sense of urgency to make your goal a priority among other present demands.
• Measurable. When possible, your goal should be quantified in numbers so you can measure whether you’re making progress. “I want to retire early” isn’t measurable, but “I want to have X amount of dollars in the bank in 10 years” is.
• Attainable. Set your goal at a level to which you’re willing and able to work. If it’s too high, you probably won’t try, but if it’s not high enough to challenge you, you won’t want it enough to do it. The goal is probably possible if it makes sense to you and feels right. Just make sure you don’t set too many goals for too short of a time frame.
• Realistic. Consider the time, skills and resources you have available. The goal might be attainable yet still unrealistic if you don't take into account what you have to work with. For example, you may be able to finish a project in six months, but with present resources it might take a year. It would be unrealistic and even de-motivating to expect to achieve the goal in six months when the resources needed aren’t available.
• Compatible. Your goal must be compatible with your other goals so that accomplishing one won't hinder the achievement of another. Otherwise, you will be uncertain of which goal to pursue and may end up not fulfilling any of them.
• Personal. To be committed to a goal, it should be one that you set for yourself. You must own it and have a stake in it. You can accept a goal that someone else wants you to do, but only by making some part of it your own will you succeed.

In short, a good goal is one that motivates action and gives direction to that action. And that’s something that’s not too hard to make after all.