Posted by A few days ago I described what qualities a goal should have in order to make it easier to achieve. Let me remind you – it should be clearly defined, measurable, achievable, related to something more and time-bound. Now I’ll show how the SMART technique can be used to set specific and achievable goals in preparation for opening a business.
First – metrics.
Example 1. You are opening an online language school. After a period of preparation, before you start enrolling courses, start mailing to friends and existing students, etc., you need to have a few things nailed down. Here are examples of metrics for preparation:
- Prepared in terms of content (lesson topics, exercises, passing level rules, etc.) 4 levels of the English course.
- Agreed terms of contract with the English teacher.
- Ready website with a full description of the English course, with full functionality of payment and lesson transmission.
- Decorated online lesson space for the teacher (furniture, equipment, background).
Example 2. You open a LEGO store in the city center. After a preparation period, you open the store’s doors at 10 a.m. Monday morning and wait for customers. Some measures of the goal of the preparation period:
- Renovated store premises according to the renovation project.
- Stocked store with 50 different sets of LEGO bricks, one box of each set.
- Employed person for the position of salesman on a contract.
- Concluded insurance for conducting such commercial activities.
Second – achievability.
Example 1. When you ask yourself, “What needs to happen, and what does not depend entirely on me to achieve the set metrics?” in the language school, you can make yourself such a list of things:
- To have enough time to prepare the 4 grades of the course in terms of content.
- The teacher must be convinced of the terms of employment.
- The company that makes the website for me must have time to finish it on time.
- The site must look good to the eye of the camera.
Example 2. When opening a LEGO store, the same question can be answered adequately according to the metrics I described above:
- Getting a loan from the bank to renovate the premises in a sufficient amount.
- All 50 sets I chose available at the toy wholesaler.
- The person I chose as a seller will agree to the terms of the contract.
- The insurer will take out favorable insurance with us.
Third – tying to something more.
Example 1. Why do you want to set up an online language school? You will probably answer – to make money. But can’t you make money otherwise? And even if you can’t, what do you need them for specifically? (Don’t answer – for living expenses, but specifically – you want to spend them on travel, to save for old age, to give to your children…) And if money is not the reason for starting such a business, then what? Your own passions, the desire to be useful to someone, to work with someone you like? These are the things that your goals are related to.
Example 2: Why do you want to start a LEGO store? Did you love playing with them as a child and know so much about them? Are they a break from everyday life for you? Or are there other reasons? Think about them, if you find them – start such a business. If not – think again.
Fourth – fix in time.
Example 1. An online language school is usually worth opening at some point during the school year. Not in November and not in March. So it would probably be a good idea to determine for yourself, for example, that your preparations will take 3 months and no matter when you do them, you will launch the business at the right time of the year.
Example 2. A LEGO store is best opened a month before Christmas, before the communion period or before Children’s Day. So these are the deadlines you would need to stick to in order to make money early on.
If you have a different opinion or other examples, please write to us.