Studies done with the graduating class at Yale University in 1953 showed that 3% had written goals, 13% had goals that were not written, and 84% had no goals at all. Twenty years later, a subsequent study of the same graduates showed that the 3% who had written goals had achieved greater financial success that the other 97% combined. The goal setters also enjoyed better health and relationships. Without goals we are like a ship without a rudder, wandering aimlessly and risking failure to achieve our true potential. Goals give us something to shoot for, a roadmap for success. The evidence is quite compelling. Goals are dreams with a timetable. When setting your goals, insure that they meet the SMART criteria.
- Specific
What specifically do you want to accomplish?
- Measurable
How will you know when you have achieved it?
- Achievable
Is it realistic in terms of your ability to make it happen?
- Relevant
Does it fit in with your overall lifestyle and values?
- Time specific
Does it have a completion date?
Here are examples of poorly defined goals, and SMART goals.
Poor goals:
I need to lose some weight.
I’m going to make more money next year.
SMART goals:
I will lose 15 pounds by January 1 of next year.
I will make $100,000 in salary and bonuses this calendar year.
The benefits of setting SMART goals are…
- You have a purpose & direction.
- You will accomplish something worthwhile.
- You can track you progress effectively.
- You will feel good about yourself when you accomplish it.
- Setting SMART goals is a habit that will bring you success in life.
Ask yourself why you are setting this goal. The
how
will be difficult unless the
why
is important enough. When you set your goal, determine a reward that you will give yourself when the goal is achieved. (People always respond more positively to incentives.) Put your goals in writing. Finally, share your goals with someone who is supportive and wants you to succeed.
Self-Study Assignment:
Develop at least one SMART goal for each of the following areas of your life: business, educational, health, financial, and family. Add others if you desire. Share them with someone who is supportive and wants you to succeed.