Goal:- Today I'm gonna make a fortune Forex trading.
Well since I don't trade Forex I think that's gonna be a bit hard, however that is how some peoples' goals sound. They aren't exactly smart, in all sense of the word, they aren't even inspirational anymore, they are just fiction.
Goals should drive you, fuel you, help you with your consistency and determination. A good way is to set those kind of goals is to set smart goals. Using the "S.M.A.R.T " acronym gives simple Key Points Indicators and clearly a well-established tool that can be use to plan and achieve your goals.
FUN FACT: This well-known acronym was found in The November 1981 issue of Management Review contained a paper by George T. Doran called "There's a S.M.A.R.T. way to write management's goals and objectives." There discussing the importance of objectives and the difficulty of setting them.
So here are the questions to ask and structure to make to ensure you are setting smart goals.
1. Specific, Your goal should be clear and specific, otherwise you won't be able to focus your efforts or feel truly motivated to achieve it.
When coming up with your goal, ensure you can answer the five "W" questions:
What do I want to accomplish?
Why is this goal important?
Who is involved?
Where is it located?
Which resources or limits are involved?
Example: As I am opening this store I will be profitable
2. Measurable It's important to have measurable goals, so that you can track your progress and stay motivated. Measuring your progress helps you to stay focused, meet your deadlines, and feel the excitement of getting closer to achieving your goal.
A measurable goal should address questions such as:
How much?
How many?
How will I know when it is accomplished?
Example: As I am opening this store I will be profitable by selling 300 items
3. Achievable Your goal also needs to be realistic and attainable to be successful. In other words, it should stretch your abilities but still remain possible. When you set an achievable goal, you may be able to identify previously overlooked opportunities or resources that can bring you closer to it.
An achievable goal will usually answer questions such as:
How can I accomplish this goal?
How realistic is the goal, based on other constraints, such as financial factors?
Example: As I am opening this store I will be profitable by learning sales and marketing so that I can make at least 300 sales.
4. Relevant This step is about ensuring that your goal matters to you, and that it also aligns with other relevant goals. We all need support and assistance in achieving our goals, but it's important to retain control over them. So, make sure that your plans drive everyone forward, but that you're still responsible for achieving your own goal.
A relevant goal can answer "yes" to these questions:
Does this seem worthwhile?
Is this the right time?
Does this match our other efforts/needs?
Am I the right person to reach this goal?
Is it applicable in the current socio-economic environment?
Example: As I am opening this store I will be profitable by learning sales and marketing so that I can make at least 300 sales. (as it does not interfere negatively with any other important aspect of my life)
5. Time-bound Every goal needs a target date, so that you have a deadline to focus on and something to work toward. This part of the SMART goal criteria helps to prevent everyday tasks from taking priority over your longer-term goals.
A time-bound goal will usually answer these questions:
When?
What can I do six months from now?
What can I do six weeks from now?
What can I do today?
Example: As I am opening this store I will be profitable by learning sales and marketing so that I can make at least 300 sales by December 2020.
BOOM a S.M.A.R.T goal!!!
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