What does the SMART goals acronym stand for?

If you investigated goal setting before, you'll have come across the SMART goals acronym. Most of the articles you've read might have been about setting SMART goals where SMART is an acronym for different attributes. If you're feeling confused, then you've reached the right place because we've tried to deconstruct the SMART goals acronym for you, in an easy to understand manner.

Before we get into it, here's a quick recap of why you need to have goals if you're an entrepreneur. Having your goals outlined before you will help you to:

• Face different problems and have a contingency plan at hand
• Help you in making difficult choices
• Keep you on track with what you really want as opposed to what you think you should have
• Help you understand your needs better and how you can work towards them

So, what does the SMART goals acronym stand for?

• S - Specific - The general rule is that if you have specific goals you will be able to reach them faster and better rather than if you have some general goals. The idea is to help you bring forth your deepest desires and to put them into action. Don't simply say that 'I want to be rich'. Make your goal into one which also tells you, just how rich you want to be, by when and how you will do it.
• M - Measurable - Being able to measure how much you have achieved is an important facet of any goal. If you can measure how close you are to achieving what you set out to do, then it works as a fantastic motivating force for you to pursue your goal further.
• A - Attainable - No one knows yourself better than you. So ideally your goals should be kept with your limitations and strengths in mind. If you set up a goal that is unattainable and you know that you won't be able to achieve it, you know that you're going to fail. So be a little practical and have goals that can be met and are not just mere pipe dreams.
• R - Realistic - Just as with the previous point, make sure your goals are achievable by you. Are they realistic for you? You know yourself best so make sure you set goals that can be actually achieved and not just those which sound good on paper.
• T - Timely - Aah, the T factor. Or rather the D factor. Do deadlines strike fear in your heart? Are you afraid of setting a deadline and not being able to meet it? Ideally, smart goals are those which have a deadline attached to them because time is immeasurably important. Make sure that you set up goals which meet all the above criteria and which can be achieved in the given space of time.

The SMART goals acronym for goals is not just about cleverly phrased words couched in spiel. It is about things that you can actually do if you set out to do them right.

Related SMART goals resources

• The SMART goals acronym is always changing - see Wikipedia for the different meanings.