Why ‘SMART’ goals are dumb in business plans
f you have ever delved into to goal-setting and planning, you will have inevitably come across one of the most overused planning tools around.
SMART Goals. This stands for
Specific, Measurable, Attainable, Relevant, Timely
It is a valuable resource if you are starting from scratch. But at the same time ‘SMART’ goals are self-limiting. They provide a good template for things such as ‘what do I wish to achieve today,’ or smaller goals.
SMART goals are definitely dumb for business planning. Why?
Because we wants to achieve BIG – and when you first start a business your short term goals should be ‘SMART’ but the long-term large trajectory should be as large as you can imagine. Aiming big with growth plays into our psychology that if we can imagine ourselves at the very end, our subconscious minds will fill in the journey in between.
In business planning, you have to set yourself up for success. For example, I had a client who only wanted one small shop and the strategist in me kicked into action.
“But you can be so much more,” I said – flustered and confused. The owner didn’t want to change because they had already planned to only have one business based on the SMART goals.
I understand that not everyone wants to run large franchises and multi-global businesses. However everyone is capable of growth, of doing better, of perfecting their craft. When we rewrote the business plan to set higher goals and higher standards the client saw a massive increase in growth and client retention.
Aim for the moon, and you will fall among the stars.
With love xo