10 SMART Goals Examples for Small Businesses (+ Free Template)

In order for your small business to succeed, you need a plan. These 10 goals are designed to help get you started and give an overview of what it takes to be successful.

10 SMART Goals Examples for Small Businesses (+ Free Template) is a free template that includes 10 examples of SMART goals. The goal of each example is to help small business owners create their own goals and track progress towards them. Read more in detail here: smart goals examples for students pdf.

The SMART goals technique will assist your firm in achieving its strategic goals. Specific, measurable, attainable, relevant, and time-bound objectives are referred to as SMART goals. This method will help you concentrate your team members on the most critical business goals, allowing you to achieve them more effectively.

We’ve included some SMART goal examples to assist you come up with your own and keep focused on your objectives.

The greatest approach to properly grasp how SMART objectives are used in small businesses today is to put them into practice. These SMART goal examples demonstrate how you might use the method in your own company.

1. Within a month, create a marketing plan for a new business

There are plans inside plans to develop when launching a new firm. Developing a marketing strategy for the new firm is a critical SMART objective.

• Specific: We need to establish a marketing strategy with a detailed outline that we can follow to guarantee we’ve covered all of the essential points.
• Measurable: We will complete 25% of the plan’s elements each week of the month to assure completion within one month.
• A month should be enough time to complete all of the necessary market research and business analysis for a strong marketing strategy.
• Relevant: The firm is missing a critical component to success if it does not have a sound marketing strategy.
• Time-limited: There is a one-month time restriction.

2. Pay off a $10,000 business debt in 30 months or less

Setting financial objectives is a crucial step in achieving financial control over your company. Paying down the company’s debt, for example, may be a SMART objective that frees up funds for staff raises and other initiatives.

• Pay down $10,000 in full.
• Measurable: We can check our cash accounts as we go and follow our progress month to month to see how we’re doing.
• Achievable: We’ll do so by spending less on growth-related products and focusing on getting suppliers to pay on time and in full.
• Relevant: Throughout the year, we will highlight development and project possibilities that will benefit from additional investment after the debt is paid off.
• Time-bound: We will attain our goal within 30 months.

3. Within 7 days, set up a remote sales networking system

In the early months of 2020, this scenario proved all too true for many businesses. Setting SMART targets for migrating to remote operations at the start of the COVID-19 epidemic was critical to sustaining a productive sales culture during a difficult period. This SMART goal example is based on a real-life situation that many individuals have encountered.

• Specific: Our remote sales crew should be connected and operating at all times.
• Measurable: When the networking system is up and running and our remote employees are able to work, the job is accomplished.
• Although this objective seems to be lofty, we may bring it to the top of our priority list and temporarily divert resources from longer-term initiatives to fulfill it.
• Relevant: Remote work is an excellent setting even if there isn’t a pandemic requiring it. Companies were able to continue functioning in 2020 because to remote networking. Remote networking helps people be productive and organizations accomplish goals in the post-COVID environment.
• Time-restricted: This objective has a seven-day time constraint.

4. Increase the number of new customer reviews by 30% year over year

Most firms’ development these days is determined by their brand recognition in the marketplace. Your brand awareness expansion throughout the year is one of the most significant objectives in brand nurturing.

For example, on a year-over-year (YoY) basis, the amount of new customer reviews we get must climb 30 percent.

• Increase the number of customer reviews by 30%.
• Measurable: We track our progress via monthly reporting, which reveals whether or not we’ve met our goal.
• Achievable: Last year, we saw a 20% rise in customer reviews. We feel that the 30% objective can be met.
• Relevant: According to our current data, a rise in the number of customer reviews correlates with an increase in sales in our top growth channels.
• This is a year-over-year comparison.

5. Ensure that all of our factory workers in other countries are paid a living wage within three months.

The demand for ethically produced items is growing as customers become more cognizant of where their commodities originate from. You may earn client loyalty while charging a premium if you source your items responsibly.

The term “ethical” is ambiguous and may refer to a variety of things. Companies have varying ethical standards that they are competent and willing to apply. For example, you may demand that your product’s foreign employees be paid 25% more than the industry’s average income, or that your manufacturing lines give well-paying positions and meaningful job training to women fleeing domestic abuse. You may also make your production carbon-neutral by planting trees to offset the carbon emissions generated during the manufacturing process. The particular aim in this SMART goal example is to inspect the working conditions of our international manufacturers and guarantee that all employees are given a livable wage.

• Specific: We are committed to ensuring that all of our manufacturing employees in other countries are paid a livable wage.
• Measurable: We will ask our abroad partners for cost of living statistics, which we will use to assess their compliance with our living wage target or to identify new partners on a region-by-region basis.
• Achievable: Because we currently engage with companies in other countries, assessing suppliers and selecting new partners based on our revised criteria is a feasible aim.
• Relevant: Many consumers make purchasing decisions based on their moral principles. We will get loyal consumers if we source our items responsibly.
• Time-limited: The objective is to finish this in three months.

6. Increase our top-selling software’s global market share by at least 10% by the end of the year.

Most businesses, big or small, want to increase their market share.

• We’re specific about the geographic location, product line, and growth rate (10%) we’re looking for.
• Measurable: We will be able to monitor new consumers, growth in new markets, and overall growth in existing markets to achieve our target.
• Achievable: We expanded by 8% overall last year, so we believe we can meet this new objective.
• Relevant: More market share often leads to increased revenue and more consumers, among other advantages.
• Time-bound: By the end of the year, we will have accomplished our objective.

It’s critical to set and implement SMART goals because they provide everyone involved a point of reference. As a result, at the conclusion of the measurement period, your team may reevaluate if it was genuinely “achievable.”

7. In six months, transition IT support from contract to in-house.

IT assistance is required for all businesses that employ computers. Many businesses engage IT support firms to handle their computing demands. As a business expands, it may be more cost-effective to establish an IT department and handle those requirements in-house rather than outsourcing out to a service, as shown in this SMART goal example.

• Specific: This aim necessitates the creation and staffing of a new department inside the business.
• Measurable: The presence or absence of an IT department is a metric for this aim. Because SMART objectives may and typically do contain extra goals necessary to make the plan reality, the number of employees who will need to be employed will be calculated under a sub-goal of this overall goal.
• Achievable: We have the means and experience to develop this department and employ suitable personnel, and we have a realistic schedule for achieving this objective.
• Relevant: By reducing technology-related downtime, an in-house IT staff will save us time and money while also increasing employee productivity.
• Time-bound: This objective has a six-month deadline.

8. By the fourth quarter, you should have planned five customer education webinars.

It could be a good idea to organize and execute five customer education webinars by the fourth quarter, each with 15 or more attendance and at least 80% extremely happy or very satisfied content replies.

• The objective is to organize five webinars.
• Measurable: We will count the number of people who attended each webinar and disseminate and evaluate the findings of the participant survey.
• Achievable: Personnel and system resources are available, and there is a pressing demand.
• Relevant: These webinars will aid in the acquisition of new consumers and/or the establishment of our brand’s competence in the market.
• Time-bound: We want to finish this by the fourth quarter of this year.

9. This year, increase sales cold calls by 10%.

Cold calls are crucial to the success of many companies. If your company model needs you to reach out, boosting your cold calls, as seen in this SMART goals example, may be the key to establishing greater sales goals, whether you’re conducting business-to-business or direct-to-customer sales.

• We intend to make 10% more cold calls this year than we did last year.
• Comparing the number of calls made last year to the number of calls made this year is simple.
• We may use incentives to encourage our employees to make more calls. We can recruit additional personnel or convert certain part-time employees to full-time employees if necessary.
• Relevant: If our call conversion rate stays steady, our total revenues will improve.
• Time-limited: We only have till the end of the year to finish this task.

10. By December 2022, increase website traffic by 25%.

If your website is successful, you already know your overall conversion rates, both in terms of search engine and social media click-throughs and in terms of sales produced per click-through. In this SMART business objectives example, increasing your website traffic will boost your revenues as long as your sales conversion rate stays basically constant.

• Specific: To increase the amount of people who visit our website by 25%.
• Increase our yearly visitation count from 100,000 to 125,000 people.
• Our inbound marketing team has robust social media and content development techniques in place, making this a realistic goal. To boost our exposure and website traffic, we may engage more professionals as required.
• Relevant: The more traffic we get, the more money we generate, and the wider our reach becomes.
• Time-bound: We’d want to finish this project by December 2022.

According to research conducted by the Center for Management & Organization Effectiveness, goal-setting teams perform 20 percent to 25 percent better. Employees who have objectives are also happier, less stressed, and more productive at work.

What Are SMART Goals and How Do They Work?

Here’s how each letter in the SMART goal acronym may help you concentrate your efforts on getting the outcomes you want:

S stands for “specific.”

A SMART goal’s “S” stands for “Specificity.”

We all know that writing down what we want to accomplish using action words makes it easier to remember. Instead of stating, “I want more clients,” you may say, “Within the next quarter, I’m going to sign up four new clients.” Using action verbs and being explicit helps you concentrate on what you or your team needs to accomplish. The following are the important questions you or your team should be asking:

• What exactly is the goal?
• What tasks must be completed?
• Who (or what team) is in charge of finishing or leading this work or project?
• What actions do you or your team plan to take to get there?

Notice how the objectives in the following SMART goal examples give information about what you need to achieve, even if you still need to describe additional activities and sub-goals to complete your plan.

Measurable is a term that refers to anything that can be measured.

The “M” in a SMART objective aids in the clarification and quantification of your efforts, allowing you to “Measure” them.

We might add the comment that your aim is to increase the number of new customers by four in the SMART goals example of signing up new clients. Despite the fact that setting a target may seem apparent, many people forget to include it in their goal framework. In other words, your measures will decide whether or not you reach your objective.

A = Attainable

The “Achievability” component is represented by the “A” in SMART objectives.

This stage reminds us to double-check if the aim is achievable; is it feasible? People are driven by objectives that push them, as long as they are not unreasonable, according to experienced leaders. Let’s say you want to get four new customers, but the proposed deadline isn’t realistic. Ascertain that you are both ambitious and realistic.

R stands for “relevant.”

The “R” in SMART objectives refers to the goal’s “Relevance.”

Perhaps new clients aren’t your main aim if your entire company strategy calls for expanding profitability rather than sales. Instead than concentrating on attracting new consumers, you could choose to concentrate on keeping current customers and increasing their profitability per sale transaction, raising prices, or lowering manufacturing costs. Make sure the objective you’ve chosen is appropriate for you. Notice how Relevant generally implies “how would this help me?” in the following SMART goal examples.

T = Time-constrained

The “T” in SMART objectives refers to the goal’s “Time” component.

Setting a time limit for your objectives is critical; it not only specifies the end or completion of your goal’s length, but it also pushes you to complete the task. Working to get four new customers is acceptable, but if you don’t establish a deadline, you risk undermining the entire goal since gaining four consumers might take much longer than anticipated.

(ADD: SMART goal infographic template.) Fill in the blanks with the following information: “S: What do I want to accomplish EXACTLY?” “M: How is this MEASURED?” says the narrator. “A: Is this ACHIEVABLE?” says the narrator. “R: Can you tell me how this is RELEVANT to my business?” “T: Can you tell me how much TIME I have?”)

Setting SMART Goals: Dos and Don’ts

We’d like to discuss with you the “do’s and don’ts” of making SMART objectives now that you’ve seen some instances. This list includes instances of what others have done in the past that have hampered their ability to develop and achieve effective SMART objectives.

As you can see, sticking to a few basic guidelines and ensuring that your team does the same can help you develop SMART objectives that everyone understands.

Additional SMART Goal-Setting Advice

There are ways for getting your team on board with your SMART goals, which will increase your chances of achieving your objectives. Evaluate these suggestions as you consider your SMART business goal examples.

• Involve your coworkers. People are more enthusiastic about objectives that they have a hand in developing. Encourage your team to come up with ideas and participate in the process of narrowing and choosing the objectives they wish to focus on.
• Make a strategy for moving forward. Each phase should have its own set of objectives. This is similar to setting mini-SMART objectives to assist you in achieving your larger SMART goal.
• Make a note of it. Every team member need a copy of the plan, which includes both the broad and little objectives. This makes it easier for everyone to remain on track.
• Evaluate, evaluate, and evaluate some more. After each project, have everyone assess their personal performance as well as the team’s overall performance. What was the objective? Did you manage to complete it? What went particularly well? What went wrong, exactly? What might you have done to make things better? What did you discover? What particular activities can you take in the future to enhance your performance?
• As required, reevaluate the objectives. As you work on a project, you may discover that you need to alter your strategy or even your SMART objective. Take the time to double-check that your strategy is still in line with your overarching objectives and vision.
• Make use of a mechanism for tracking performance. In a big business, keeping track of all the parts of goal formulation and follow-up may be difficult. You can keep track of everything with the aid of a performance management system.

Conclusion

It’s like traveling without a map or constructing a boat without a blueprint. Making your objectives SMART guarantees that you not only know what you want to do, but also how you plan to accomplish it (as well as a way to measure your progress along the way). We also recommend that you learn more about how to use SMART objectives as part of your performance management strategy.

The “5 smart goals examples” is a free template that can be used to write your SMART Goals. This article provides 10 different examples of SMART Goals for small businesses.

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