How to set effective goals

Have you thought about where you want your business to be in five years time? Are you clear about your main personal objective at the moment? Do you know what you want to achieve by the end of the week, or even the end of the today?

If you want to succeed you need to set goals. Without goals you lack focus and direction.

Goal setting techniques are used by top-level athletes, successful business-people and achievers in all fields. They give you long-term vision and short-term motivation. They focus your acquisition of knowledge and help you to organise your time and your resources so that you can make the very most of your life.

By setting sharp, clearly defined goals, you can measure and take pride in the achievement of those goals. You can see forward progress in what might previously have seemed a long pointless grind. By setting goals, you will also raise your self-confidence, as you recognise your ability and competence in achieving the goals that you have set.

Here are our top tips for goal setting:

Set SMART Goals

You have probably heard of "SMART goals" already. But do you always apply the rule? The simple fact is that for any goal to be achieved it must be designed to be SMART. There are many variations on what SMART stands for, but the essence is this - Goals should be:

Time Bound

Set Specific Goals

You goal must be clear and well defined. Vague or generalized goals are not achievable because they don't provide sufficient direction. Remember, you need goals to show you the way. How useful would a map of Australia be if there were only state and territory borders marked on it and you were trying to get from Byron Bay to Yallingup? Do you even know which state you are starting from let alone which one you're headed to? Make it as easy as you can to get where you want to go by defining precisely where it is you want to end up.

Set Measurable Goals

Include precise amounts, dates, etc in your goals so you can measure your degree of success. If your goal is simply defined as "To reduce expenses" how will you know when you are successful? In one month's time if you have a 1% reduction or in two year's time when you have a 10% reduction? Without a way to measure your success you miss out on the celebration that comes with knowing you actually achieved something.

Set Attainable Goals

Make sure that it's possible to achieve the goals you set. If you set a goal that you have no hope of achieving you will only demoralize yourself and erode your confidence.

However, resist the urge to set goals that are too easy. Accomplishing a goal that you didn't have to work very hard for can be an anticlimax at best, and can also make you fear setting future goals that carry a risk of non-achievement. By setting realistic yet challenging goals you hit the balance you need. These are the types of goals that require you to "raise the bar" and they bring the greatest personal satisfaction.

Set Relevant Goals

Goals should be relevant to the direction you want your life and career to take. By keeping goals aligned with this, you'll develop the focus you need to get ahead and do what you want. Set widely scattered and inconsistent goals, and you'll fritter your time - and your life - away.

Set Time-Bound Goals

You goals must have a deadline. This again, is so that you know when to celebrate your success. When you are working on a deadline, your sense of urgency increases and achievement will come that much quicker.

Key Point

Goal setting is much more than simply saying you want something to happen. Unless you clearly define exactly what you want and understand why you want it the first place, your odds of success are considerably reduced. By following the tips you can set goals with confidence and enjoy the satisfaction that comes along with knowing you achieved what you set out to do.