Goal setting is an essential part of the business. I remember in one of my college business courses; the instructor asked us if we had a road map.  Mind you; this was before cell phones and GPS, so we used the old-fashioned way to get around in unknown places.  He said if we didn't have a road map, we'd drive around in circles, waste our gas, and feel lost.  He went on to tell us that we needed to have goals in life, goals in business, and goals that would make us grow.  Entering the business world during my first year in real estate, I spent a lot of time going in circles with no clear direction. I'd forgotten his advice from long ago. Then I met a great mentor and friend, Zan Monroe.  He reminded me that I needed specific, measurable, achievable, realistic, and timely goals. SMART is an acronym that I often use when talking about goals.

Specific:

In real estate, I needed to detail a specific number of appointments that would lead to listing homes. At the end of each year, I knew how many appointments I'd been on, how many homes I'd listed, and how many had sold. This created a new specific goal for the following year. Each year I meant to do better than the last.  You won't give up on a specific goal or give in if it gets tricky. It's a realistic approach to obtaining whatever it is you are seeking to do. 

Measurable:

A goal has to be able to be measured.  Do you want to increase profits? By how much? This creates a measurable goal. You have to be able to ascertain how much you grew in profits. What was the root of the growth? How many more customers were you able to serve? This allows you to know and understand where your goal took you.

Achievable:

I always wanted to be a natural runner. So much so that I would determine that whatever new year it was, I would run weekly until it became easy for me to do. That became a frustration for me instead of being an achievable goal. The same thing applies to our businesses. A goal should be lofty but not so lofty you won't be able to achieve it. I'm all for wildly achievable goals but not the ones that are too far out of my realm like running was. I now vow to walk so many miles a year, and it's a much more obtainable goal.

Realistic:

Just like above, a goal must be realistic.  We should set goals that are realistic to our business.  I created realistic goals based on my prior year's performance and sales.  Keeping myself grounded in my truth was important. Make sure that your goals are realistic for you. Again, don't be afraid to stretch and grow.

Timely:

Setting target dates is essential. Having monthly, quarterly, or yearly timelines will help keep you on track for the goals you want to achieve.  In real estate, I knew I needed so many weekly appointments to list x amount of homes per month. Knowing when you want to reach the goal will help you stay on track.

Whatever your goals are, if we can help, please let us know!